The S&P and Nasdaq made new, all-time highs today and the FAANGs finally awoke from their slumber. They’ve been soft the past few months, but I think it’s time to get back in action. Let’s look at MSFT, AMZN, NFLX, and more, along with my favorite COVID and solar names.
Tomorrow, like today, we may have another chance to “fade” the rally into the testimony. Keep in mind, though, the market often sells off AFTER the event, so stay on your toes. Today’s fade produced a decent trade in YM, but a great one in NQ.
Bullish Bias helped even with the volatility of the Fed Chair testimony, and the markets stuck with their tried and true pattern. Here’s how we played it.
We are seeing a setup that implies a rotation back to momentum tech stocks. The indexes are extended, but if they hold steady, these stocks should continue to get bid higher.
The FANGs have a rare setup on multiple timeframes and the bond market is cooperating with the idea of rotation back to momentum. Let’s review what stocks will benefit if the indexes hold steady.
With a futures first approach, the YM is opening the door to pullback entries in the YM/DIA, transports, financials, and more.
With tech finally coming around to double green on the NQ, there is a lot to like, and YM related sectors and stocks are at the top of the list.
One of the best ways to adjust your perspective is to alter your timeframe. I knew this move in TSLA was coming 22 days ago and these are the stocks I’m thinking could be next.
I knew AMZN and TSLA were both at critical junctures last week. They really came to life over the holiday and will give us a place to begin the weekend review. We’ll also get into managing TSLA at expiration, swing trades in ATVI, RH, and TDOC, plus the latest setup in PTON.
