Disclaimer: I didn’t have time for a super detailed outlook. I’m mainly missing Charts and PTs. Also, please note that this watch-list should be used in combination with your due diligence and extensive research. I’m here to make money, help educate, and share my findings and knowledge with you- I’m not very good at spoon-feeding, but I will do my best at guiding… Let’s have a great green week!
Let’s begin with a Market Breakdown, then work into a Market Prep and Watch-List.
This week kicks off with Columbus Day on Monday, where Federal offices and banks are on holiday, but stocks are open. We can only assume a low-volume trading day on Monday since major market participants will be off for the day. Q3 earnings season kicks off this week as well for the market, with banks starting off as usual. Additionally, multiple FED speakers are scheduled to talk this week on future FED policy. With last week’s less than ideal jobs report, expect some talk regarding future plans on tapering and other moves the FED will use to help the economy with the Delta Variant affecting the job market. On top of the FED speakers, this Wednesday houses the release of the newest FED minutes and CPI data, which should affect expectations going forward. All in all, I would expect a high volatility week between Wednesday-Friday with the majority of the economic news happening on these days! Plus, other catalysts.
–Top Economic Announcements This Week
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CPI Released Wednesday @8:30 AM EST
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FOMC Minutes Released Wednesday @2 PM EST
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Jobless Claims Reported Thursday @8:30 AM EST
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PPI-Final Demand Reported Thursday @8:30 AM EST
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Retail Sales Reported Friday @8:30 AM EST
FYI… Volatility IS going to continue to dominate the markets with fundamental factors such as the ongoing, Bullshit Inflation headwinds and instability around the globe. Future downside risks are expected to be at 100% possibility at this point. Cash Positions are recommended for beginner traders, but that does not mean using the proper risk management techniques could quickly help to offset any losses.
Broad Market Analysis: The SP500 made an extreme bounce off 4300, a fundamental level last week. The SP500 needed to hold for any bullish price action to occur. Right now, though, the market is continuing to develop in this tightening range, and with earnings season starting soon, expect the range to either get tighter or break here soon. For longs, the SP500 needs to break clearly over 4450-4460 with a nice daily bullish candle. This will switch the downtrend to an uptrend and most likely lead to new highs!
Dow Jones Industrial Average: The Dow is also stuck in a pretty tight range right now between 33800 and 34800-35000. If the Dow can manage to break above 35000 with a bullish daily candle, look to go long on the Dow with the anticipation of new highs to come in the future!
NASDAQ 100: The NASDAQ is also still holding this nasty downtrend, with last week’s bounce off 14400-14500 leading to another lower high with a pretty ugly daily candle to close the week If the NASDAQ can continue to create higher lows and break over 15400 in the future, then the downtrend will be broken, and the NASDAQ will most likely make new all-time highs! In terms of the weekly trend, the NASDAQ is still way above the weekly higher low of 13000. If 13000 breaks in the weeks to come, there will be some massive selling, but obviously, we are miles away from that at the current time.
Volatility Index: The VIX can’t still manage to break over $24-$25 resistance, which is a worrying sign for the bears but a nice sign for market bulls! Right now, the chart is too early for any major developments to be made, and more data is needed to find where the VIX is going in the future! Nonetheless, If the VIX continues to break down and breaks $17-$18 support, look for strong bullish price action in the broad markets!
Market Prep!! Things to do and watch for this trading week!
Interesting things to keep an eye on!
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Inflationnumbers regarding unciertians -
OPEXon October 15th -
Stocks bottoming in China Equities!
The S&P 500 : : US Equities (SPY) – The market is looking for a strong volatile mid-week October; some are expecting a market correction soon. Major indexes looked to be weaker on Monday, as investors worry about inflation putting pressure on the broader market and a rising 10-year Treasury Yield. I’m expecting Tech and Fin-Tech Sectors to make a full-rotation, as well as finance and energy sectors. The market wants more and more momentum to break past 442$ on the SPY. Nonetheless, Traders seem to be acting panicky; the downside overall could be ugly, especially if we fail to re-test 442-444!
Market Price Targets: A good enough dip and SPY could see a re-test of recent lows of 426.36 and below that could move SPY to test support at 425.00-419.70.
The NASDAQ : : ETF QQQ– It’s looking bearish, with more downside on QQQ into the coming weeks. NFLX, ROKU, and MSFT being the most Bullish!
Market Price Targets: any more rejections from recent highs at 365.69 where a Doji Candle Formed on the Daily and below current support at 357.38, would likely result in a re-test of lows 350.32, any further selling pressure, and we could see 341.69
Oil (XOP) WOW, heavily buying pressure, continued to be strong for a while now! IF the Bulls continue to buy, I’m expecting a strong possibility that it will continue the trend. Oil and Gas breaking ATH, Oil has many catalysts and an overall bullish continuation for the Energy Sector (XLE)
--Also intraday rallies on GOLD AND BTC! Speculating lower lows, but, no real data that Bulls have full control.
All right, now for everyone’s favorite part, Ticker Symbols and Technical Analysis!
Watch-List: AMD, TWTR, ROKU, NFLX, MRNA, NKE, AMZN, TSLA, SPY,
AMD Calls looking for above 108.44 : : Puts below 104.46
MRNA Calls looking for above 314.05 : : Puts below 297.54
$NKE Calls looking for above 152.87 : : Puts below 150.26
$ROKU Calls looking for above 328.75 : : Puts below 320.01
$NFLX
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$635: $637.50, $640
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$630: $627.50, $625
$MRNA
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$310: $320, $325
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$300: $295, $290
$TSLA
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$790: $795, $800
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$780: $775, $770
$AMZN
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$3310: $3320, $3340
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$3280: $3260, $3240
ROKU: Finding some support at .786 fib, we also have a deeper monthly support cluster in the 280 range, so overall, I’m expecting some accumulation for the next couple of weeks. Once our general market bottoms, this one will move hot and fast. Keep an eye on it. ROKU is looking very good here on the weekly chart. Trading in this range/cup and handle. This past weekly candle barely put in a higher low, a close about the red candle, and a nice hammer candle. ROKU is looking solid for a longer-term call spread. In order for this range to be invalided, ROKU will need to break under $294 with some strong selling volume. I really can’t see that happening unless we see a greater sell-off in the tech sector.
NFLX: Technically forming a bearish reversal. Strong head and shoulders pattern on NFLX. I would expect a strong bearish move with a cross below 630. If we are to break support on, I would likely aim for the 620 or 625 strikes with 10/15 expiration. This will likely just be a day trade as the theta will be high and don’t like shorting strong tickers, so we’ll be trying to get in and out for a nice day trade gain, also acting as a hedge for multiple bullish positions.
TWTR: Same as before, its on heavy watch. It’s currently bull flagging, and I’m expecting a breakout of the flag and continuation to fill to gap to 65.3 (blue line), which will also mean the bull flag price target has been realized as well. Expect it to move fast above resistances, so I’ll be watching 10/15 expires on the 65 strikes next week and will look for an entry on the break of 64.3 for an expected move topside which I would expect to be between +30% on a weekly call. Based on 23 Wall Street analysts offering price targets for Twitter. The average price target is $71.38, with a high forecast of $90.00 and a low forecast of $33.00. The average price target represents a 12.09% change from the last price of $63.68.
TSLA: Setting up here for the $800 breakout. TSLA has been a theta destroyer these past few weeks. This pattern is getting super tight, so I think TSLA should see a break soon. TSLA showing amazing strength while the market was falling and now seems to be lagging as the market seems to be rebounding. Not sure what TSLA will do if the market continues to show strength, but let her rip, damn it! Anyways, pretty simple… long over $800 with a quick trip to $825, and over $825 we should go… re-testing all-time highs.
AMD: Looking to be a crowd favorite for weekly gains, very popular ticker for this week. Mainly looking at the following levels: Calls above 105.69, 106.34 : : Puts below 104.89
MRNA: Acting inside a doubly day, looking for heavy amounts of consolidation, best bet; wait for a breakout, within previous HOD and LOD. Overall, Calls above 314.04 : : Puts below 297.54
SPY: How can you have any fun without including SPY… I could possibly not mention this ticker symbol… Currently, the market could possibly see more downtrend, SPY making its way below current resistances. More-or-less, its in anyone’s favors, safe territory for bulls and bears. I’m looking for a true breakout leading past 440. Nonetheless, the market is expecting a push-up, with a chance of downside… Oh, Bother. Calls above 439.41 and Puts below 437.19
NOTABLE MENTIONS: SNAP, UPST, IWM, QQQ, ~~Play Levels and set Triggers!
Risk It for The Biscuit Stocks: HOOD, MMAT, BABA, BTBT, OXY *$ANY
HOOD: So, this may have already been called out, but HOOD (RobinHood Market’s) wants to do something. Even the AI picked up on High Volume Nodes, Large amounts of Calls, and Sweeps for this ticker symbol.
So, here’s what I’m watching; more-or-less HOOD has been making its way coming down to its first-day IPO candle… Looking for it as support as it has before!
Now, I might not know what I’m talking about, but the 4th-day candle (4th day after IPO) that’s what we are chopping in between in the bigger picture…
Moderate Buy Rating for $53.00 ▲(26.85% Upside) Based on 13 Wall Street analysts offering price targets for Robinhood Markets in the last three months.
The average price target is $53.00 with a high forecast of $68.00 and a low forecast of $35.00. The average price target represents a 26.85% change from the last price of $41.78.
MMAT: Full- Blown FOMO after-hype prediction price: 17.42 (I’m still editing, I have more DD/TA for this ticker, but also make sure to check out the servers DD on MMAT to!)
*Lotto Ticket ONLY!
Apologies for any Grammatical Errors!
– This is definitely a better venue for these types of posts.