12/01 Market Update

Bear trap inbound?

First off, congratulations on making it to the final month of 2020. It has been quite a year in many regards, including the markets. If you’ve traded this year’s market, I’d say you’ve gained at least 5 years worth of experience and lessons. December started of with a bang, as $NQ_F shot up 1.43% and pulled the rest of the market with it. We could see a bear trap tomorrow, so be on your toes!

It was a nice day for the set ups posted yesterday, and also another great day in the trading group. $DIS runners hit 130% in the morning and we opened $RKT and $WMT calls at some nice entry points. There should be some great buying opportunities tomorrow, so be ready!

*DISCLAIMER: Not financial advice. I am not a certified financial advisor. The ideas shown in this newsletter are representative of my personal opinions and should not be interpreted as a buy or sell signal. Always do your own proper research and understand the risk before making an investment*

Setups Recap:

$AMD Long: Passed, Still developing

$NFLX Long: Passed, Gapped above entry level and ran for a 3.5% move

$RKT Long: Open, dropped right into the buy zone towards the end of the day. I have a position open and am very optimistic for tomorrow

12/02 Set Ups:

$ES_F Long

I’m looking for a bear trap here. We should fall overnight and tag the 3624 range towards tomorrow’s open. I will be looking to go long here for a nice rip to 3700. Invalid below 3592

$BABA Long

This looks like a 1,2 combo off the recent low. I will be watching for a strong rebound tomorrow, possibly even an attempt to fill the gap above.

$WKHS Long

$WKHS fell hard after hours today (dropped to around $21) on the news of the USPS contract delay. Depending on where it opens, it could be a great buy the dip situation. I’m looking to take a long entry upon signs of a bullish reversal. The count is invalidated at $19.20

$ZM Long

Looks like a 1,2-1,2 set up on $ZM. I will be looking to enter long early tomorrow. Count invalidated at $374

If you’re interested in live alerts, check out my new trading group! Remember, don’t force any trades, let the set ups come to you! If the set up does not develop, don’t chase… That is a sure fire way to lose money. There will always be another set up right around the corner!

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