We’ve been climbing the wall of worry in SPY for weeks now, and while it could be poised for a drop, I’d rather try to find something that will outperform the market. There’s one stand out for that we’ll review in tonight’s video.
We’re at a point that placing hedges makes sense, but we also continue to hold some of the most bullish price points in the indexes. Tonight we’ll cover levels to be aware of for those bigger products, while also looking at a few smaller names that may trade well regardless.
There are a handful of setups that are showing up on the Dow relative performance layout that I use. HD, UNH, and MCD are heavily weighted names that YM futures traders watch closely. Here’s how these stock setups sync up with the broader average.
With the 480-minute pullback setting up a buy, what are other names and sectors within these averages that offer opportunities and insight into where the stock market is heading next?
XLC has shown its strength since December 26th, and it continues to do so. Today, FB was up 3% — and I’m looking for NFLX and CHTR to follow. Check out the Fibonacci + double squeeze setup here.
After waiting for a pullback for weeks, we got a bit of one today — but it rallied pretty quickly after the initial sell-off. What does that mean for tomorrow? Well, I maintain my bullish position in this market and I have a couple spots I’d like to add. Let’s talk about CRM, SBUX, DE, MSFT, ADBE, AMZN and GOOGL.
