Tech Stocks Drive Market Higher β Weekly Options Trading Watchlist π
Stay ahead with our latest analysis on tech's impact on the market. Discover top options trades and boost your strategy with expert guidance and resources.
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During the Weekly Watchlist we review the best stocks for options trading. We go over key levels of support and resistance and create an actionable game plan for the week of November 22nd 2021.
In the SPY we are still seeing all signs point to patience and cautious longs. The market is in a bullish location, however, not exhibiting signs of trend continuation just yet. Another concern is the fact that the S&P500 is really being held up by tech. Financials and healthcare took a beating into the end of the week. The weak market breadth has been compensated for by the big breakouts across tech, ie Amazon, Apple, Microsoft, Tesla.
One big carry forward is that we have an ATH which was set in the ext hours session and should be repaired. Historically speaking this will not be the true high of the move.
In the QQQ and Nasdaq we have made new all time highs and are focusing in on the break and retest scenario. On pullbacks watching the prior highs and then a higher low at the mid point. Any equal lows on pullbacks are slightly concerning.
IWM and the small cap stocks have broken out and are now pulling back. They are teetering on the edge of whats acceptable vs what is not. 233 will start to act as a line in the sane. Any acceptance below and we have a look above and fail on our hands. This would align with being more skeptical of a massive breakout in the S&P.
We also look at the following trade ideas: CSCO, TSM, SQ, NKE, MTTR, GS, BCTX, LULU.
00:00ββββββββββββββ β Intro
00:53 β Broad Market (SPY, QQQ, IWM)
10:26 β Core Companies (AAPL, NFLX, TSLA, BABA, FB, NVDA, MSFT, AMZN)
21:43 β Trade Ideas (CSCO, TSM, SQ, NKE, MTTR, GS, BCTX, LULU)
If you're a day trader looking to make fast money online options trading, you certainly need to keep these areas of support and resistance in mind, as well as any technical patterns, before the opening bell on Monday morning. Stock analysis like this will save you a ton of time.
Going into the day with a plan is important and will give your options trading the edge you need to be a successful retail day trader. This stock analysis gives you that edge.
Instead of looking at stock market news and googling 'stocks to trade today' or best options to buy today, every Monday morning, technical analysis makes my job a lot easier. A quick glance at the stock chart can tell me where to expect buying and selling battles.
Our core watchlist are the stocks that are always on our options trading weekly watchlist. Some people call them hot stock picks but we like to call them our ATM.
WEAK Market Breadth Saved By Tech?! | Options Trading Weekly Watchlist
#OptionsTrading #TradeIdeas #TechnicalAnalysis
DISCLAIMER: The information provided in this video is for informational purposes only. It should not be considered financial or legal advice. I am not a Registered Investment Advisor. Buying and selling financial instruments is highly speculative and carries risk.
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