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The SPY retested this 365 areas last Friday. As much as it can possibly break this level, it can definitely turn back down towards the support level as well. I will keep a close eye on the movement of the market coming into this week. If it decided to retest.
Crazy week for $TSLA, $COST, and EV stocks. The market re-bounced from the ATH and heading towards the support. But as long as we still in the range, we are setting up for a bull run. Although, if the market decides to break the support. Get ready to buckle your seatbelt.
It won't take long for the investor to realize this and potentially moving the money back into the lockdown stocks. What's the news for us? This could be a great opportunity to buy the stock at a discount price once it oversold.
Although, let us step back a bit and think, is the virus gone? The answer should be clear. The US is still making the new record each day, resulting in many states facing another potential lockdown. As much as it is excellent news for all of us, this pandemic is far from over.
What a crazy week for the market; we got the vaccine news on Monday that pushed SPY to 364, leading people into thinking the pandemic is over. Then we saw the market made a sector rotation from lockdown stocks to value stocks.
There will be lots of charts to look into this week, although keep in mind that lots of them are not ready for entry: $TREX $CHWY $BABA $EBAY $WMT $CLX $DLTH $SGMS $VRM $HRL $ADM $CELH $AAP $NFLX $BYND $SBUX $PRPL $SJM $EAT $DKNG $TSLA $WKHS $CMBM $SPOT $FVRR $BILI $AMD $WIX $MSI
As a swing trading POV with the current market, it is still not ideal putting on too much risk yet. You might feel FOMO on this market but remember the BIG money time is still ahead of us.putting
What a wild market this week with the election result didn't even come out until yesterday. The market ran up what took August a whole month to move in 5 days. The market reaches this 355 to 360 resistance area; we will like to see some pullback or consolidation sore.
Before it breaks the resistance and confirms the bull rally, although the market always loves to surprise people with unpredictable actions with the future up high today we might see the market even gap up to the resistance.