SPY, QQQ, DIA Prepare For New Historic All Time Highs

Market Trends, Outlook, and Trading Strategy
Stock discussed the recent market trends and his bullish outlook for the upcoming week. He noted that the market had been consolidating for two to three weeks, building liquidity and waiting for the moving averages to catch up. He predicted that the market would break the level of resistance and see upside from there. Stock also mentioned the upcoming economic reports and Fed speakers, and how they could impact the market. He suggested that the market could creep up slowly before the CPI data, and that the short squeezes could propel the market higher. He also shared his watch list, including the S&P 500, and his trading strategy for the week. He advised traders to have a stop loss at 569.73 if they are bullish, and to be out of their trades if the market breaks down below that level.
QQQ Analysis and Semiconductor Performance
Stock discussed the QQQ analysis, noting that despite an early fake breakout, bulls managed to close above the resistance level, turning it into support. He predicted that bulls could continue to step in on QQQ to head towards the 496 gap fill. He also analyzed the performance of Apple, noting a Bullish pennant formation and the stock's resilience despite bad news. He highlighted Nvidia as a key driver of QQQ's strength, predicting a potential breakout towards 131. He also mentioned AMD and Avgo as other strong semiconductors.
Stocks, Growth Potential, and Momentum Trades
Stock discussed various stocks and their potential for growth. He highlighted Nvidia and Amd as strong performers, with Nvidia's weekly chart showing a promising breakout. Dell was also mentioned as a potential for upside. In the financial sector, Jpm, Wfc, and other bank stocks were identified as strong candidates for growth. Oracle and Zoom were suggested as momentum trades, with Oracle showing a bullish momentum trade. Lithium stocks, such as Alb, were also discussed as potential for growth. Lastly, Dxcm, a diabetes stock, was identified as a good swing trade to hold for 2 to 4 months.
Chinese Economic Policies and US Stock Performance
Stock discussed the potential impact of Chinese economic policies on US stocks, particularly Baidu, Baba, and JD. He also shared his strategy for trading Velo and his interest in Uber's potential response to the robo taxi news. Stock also analyzed the performance of various industrial stocks, including Dia, and recommended keeping an eye on Sofi. He also mentioned his long-term positions in Carmax and Siri, expressing disappointment with the former's performance. Lastly, he highlighted the potential of Envx, a lithium stock, and encouraged the team to monitor the levels for QQQ and other stocks discussed in the weekly watch list.
1. Stock to trade above 574.18 on S&P 500 with targets at 578 and 581 by the end of the week.
2. Stock to trade above 484.37 on QQQ with target at 496 gap fill.
3. Stock to trade above 120 on NVIDIA with targets at 131, 135, and new historic highs towards 140s heading into November.
4. Stock to trade above 100 on ALB (lithium stock) with target at 130 for a long-term trade.
Summary
Stock discussed his bullish outlook for the upcoming week, predicting a market break and potential short squeezes. He analyzed various stocks, including QQQ, Apple, Nvidia, and financial sector stocks, identifying potential for growth and breakout points. He also discussed the potential impact of Chinese economic policies on US stocks and shared his trading strategy and watch list for the week.
Stock discussed his bullish outlook for the upcoming week, predicting a market break and potential short squeezes. He analyzed various stocks, including QQQ, Apple, Nvidia, and financial sector stocks, identifying potential for growth and breakout points. He also discussed the potential impact of Chinese economic policies on US stocks and shared his trading strategy and watch list for the week.
DISCLAIMER: This is for educational purposes only.