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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 April 4th 2022.
In the S&P500, we finally saw the pullback, and the new question is should you buy this market pullback? Based on the spike lower from Thursdays afternoon sell off, we can make an informed decision. If that level at 455.85 is recaptured and we can confirm a higher low above it, the pullback seems buyable. If we remain below, watch out for the 441 line in the sand. On a swing higher, look for an equal high reattempt and then 473.
In the QQQ and Nasdaq we also see a reasonable pullback, that is supporting well above the double bottom neckline. Watch for the recapture of 364.62 and then higher lows for more confirmation that the move is higher, or use 352 as a line in the sand to remain bullish if we continue to pullback.
IWM and the small cap stocks are right at the all important pivot point. 208. After a look above and fail on the breakout, patience is required here for a more confirmed move. Over 212 at this point or under 204. Anything in between is anyones guess.
00:00 – Intro
00:30 – Broad Market (SPY, QQQ, IWM)
20:12 – Core List (AAPL, NFLX, TSLA, AMD, FB, NVDA, MSFT, AMZN)
32:42 – Trade Ideas (CLF, MA, SHOP)
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.
Should You BUY This Market Pullback?! | 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.