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 ahead.
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The SPY is continuing to move higher after completing the look below and fail pattern. The assumption here is that the path of least resistance is still up. With the prior balance area highs now acting as support that is the area we want to see hold if there is any more pullback. With a heavy rotation of tech earnings coming out this week, many of those companies will determine wether or not the market will continue to make new highs or the market will "crash." With NFLX already reported, that could set precedent that markets may far surpass their expected moves in terms of the options chain estimation.
QQQ is forming a massive daily bull flag, and IWM is consolidating sideways at the highs which is a bullish type of consolidation.
We also cover the following stock tickers in the quick fire round: NIO, NNDM, TWTR, PLTR, CRM, XPEV, BYND, BA, SQ, /BTC (Bitcoin Futures & Crypto)
0:00 – Intro
00:45 – Broad Market
8:36 – Core Companies
20:10 – Bonus Companies
If you're a day trader looking to make fast money online, 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.
SPY QQQ IWM AAPL NFLX TSLA BABA FB NVDA MSFT AMZN — These 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.
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.