A Resilient Market: NVDA, JMIA, GLD, and more.
Definitely not a dull week, with a new rally into the close; it just goes to show us once again how resilient this market is. Next week I want to buy NVDA, JMIA, GLD, and most likely FCX.
Archives: Daily Videos
Update on ES. 12/14/2020
We have symmetrical support on the ES Daily and 120, but be a cautious bull as we get into resistance.
Is There Anything To Be Worried About?
The market continued its 3rd day of the pullback this week which looked pretty ominous in the morning session but bounced nicely to close in line with the previous 2 days. Waiting for this to play out means looking at higher time frame charts to see if this is anything to be worried about.
Even Big Cap Tech And Precious Metals Are Going Sideways…
As the market continues to pullback, we look around at higher time frames to see if there is more to worry about or if this is perfectly normal price action. Big Cap Tech seems to be going sideways and so do precious metals, so when will they fire up again? I also show a few tickers out there that have no idea the market is pulling back, which may indicate that strength isn’t completely absent.
Focus on the First Two Hours
For traders that are beginning their daytrading or experienced traders looking to get their trading back on track, here’s a time-based approach that has worked well for traders in the chatroom.
Daytrading Into Year’s End
While my overall directional bias is still bullish, there are plenty of reasons to keep our trading short-term and look for clarity after Monday next week.
The 3 P’s
Whether you’re looking for short term trades or longer duration opportunities, this list of 3 should give you a few solid ideas to consider.
The Path Into Expiration
Next Friday will be the last witching expiration of 2020, and it’s usually one of my favorite times to trade. We’ll review the current lay of the indexes and our positions, along with the plan into December 18th.