TLDR;
This YouTube video provides a market update, focusing on key levels for SPY and QQQ, analysis of MAG seven stocks, and trade ideas based on stocks showing strength. The video discusses potential market movements influenced by geopolitical events and inflation data, while also highlighting specific stocks like Nvidia, Apple, and others for potential trading opportunities.
- Key levels for SPY and QQQ are identified for both upside and downside scenarios.
- Nvidia and Apple are highlighted with statistical analysis suggesting potential upward movements.
- Several stocks showing relative strength are discussed as potential trade ideas.
Intro and Market Overview [0:00]
The video starts with a market update, focusing on SPY (SPDR S&P 500 ETF Trust) and QQQ (Invesco QQQ Trust) and then MAG seven stocks. The presenter also shares about 10 trade ideas based on stocks demonstrating strength, which could make moves by the end of the week. The presenter touches on news regarding potential de-escalation of geopolitical tensions and its possible impact on the market, while also noting that inflation readings are expected to remain elevated.
SPY and QQQ Analysis [0:31]
The presenter analyzes SPY, noting a gap down, followed by filling the gap during the day, and a slight gap up in after-hours trading. Key upside levels for SPY include 657.03, 662.62, 669.66, 675.79 and 683.36. Downside levels include 649.89, 644.72 and 639.85. For QQQ, upside levels are 587.93, 591.33 and 594.76, while downside levels are 587.93, 585.96, 581.93 and 578.54. The presenter notes that DIA (SPDR Dow Jones Industrial Average ETF Trust) and IWM (iShares Russell 2000 ETF) showed strength.
Nvidia and Apple Statistical Analysis [7:02]
The presenter discusses Nvidia, mentioning a 77% chance of it moving up to 189 by the end of the week, based on a three-year analysis of 19 occurrences. Apple is also analyzed, with the presenter noting that historically, it tends to bounce off the 200-day moving average, with a potential move up to 255.13 or higher. The presenter emphasizes the importance of being open to possibilities, as these patterns have worked out in the past.
Microsoft and Google Analysis [15:42]
Microsoft is currently at its 200-week moving average, which the presenter refers to as the "Warren Buffett indicator," suggesting it could be a good buying opportunity for long-term investors. The weekly RSI (Relative Strength Index) is oversold, a rare occurrence. Google, on the other hand, is starting to break down, potentially heading towards 129.393, with its daily RSI entering oversold territory.
Trade Ideas: Stocks Showing Strength [22:11]
The presenter discusses several stocks showing relative strength:
- AMD: Looking for an upward resolution over the coming sessions above 29.21, targeting 220, 227.30 and 236.60.
- PLTR: Watching for a break over 15.84.
- GEV: Expecting dips to be bought and for it to continue tracking higher.
- TSM: Watching for a break above 347.95, with a potential retest of the 21 EMA (Exponential Moving Average) from above.
- NBiz: Looking for 110.50 to start another position, or a move up off the 9 EMA.
- ALB: Watching for a move up to the highs, with key levels at 182.80, 195.69 and 206.
- Cipher (CFR): At the apex of a pennant, watching for the daily cloud to flip green, with potential targets at 15.48, 16.28 and 17.96.
- APLD: Watching for a break over 29.43.
- Dell: Showing strength, but extended, so waiting for a pullback might be a better entry point.
- Marvel (MRVL): Basing out above the daily 21 EMA, looking for a breakout.
- Vav: Showing straight-up strength, just at new 52-week highs.
- Laser (LSR): About to break out, potentially setting up for a larger move.
- Light (LI): Gapping into new highs, with a history of vertical moves after breakouts.
Final Thoughts and Disclaimer [37:48]
The presenter summarizes the stocks discussed, emphasizing the importance of focusing on names showing strength. The presenter also reminds viewers of the Nvidia trade, looking for a 10% move over the next two weeks, bringing it up to 189. The video concludes with a reminder that the presenter's trading community link is in the description.
