Weekly Update 12/14-12/18: Tech Explosion…(For real this time)

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Well, last week we didn’t quite get the explosion I had hoped for…but it’s coming soon. There are several key names all showing the same 1,2-1,2 pattern, which is very bullish. I expect this week to be very strong! Let’s get right to it….

$ES_F & $NQ_F

ES 120m
ES 15m
NQ 120m
NQ 15m

$NQ_F and $ES_F both look to be finishing up ending diagonals for leg c of wave (ii) of 3. This means wave (iii) of 3, generally one of the most bullish waves, is up next. Looking at the 15m charts, $NQ_F appears to have bottomed out already as it has completed the full ‘abc’ structure. $ES_F may also be done with its correction, but I do see a possibility that $ES_F makes one more low around 3610 as $NQ_F retraces for a sub-wave 2. In either case I think we see some extremely bullish momentum this week, taking us to 3750 $ES_F and 12,600 $NQ_F.


Make or break here for $AMZN. We could see 3400+ by Christmas but it MUST hold above 3020 or we’re likely in for some heavy bearish action. Take note of the count on $AMZN… look familiar? It is the exact same 1,2-1,2 set up that $ES_F and $NQ_F are showing… you’ll be seeing this pattern quite a bit in this update, and it is one of the main reasons I am so bullish. All the major names are setting up for a synchronized move up.


$DKNG looks to be starting wave (iii) of 5. If it opens flat on Monday I will be getting in asap. We should see $60 in short order. Invalid below $45.74


I took an entry on $FSR on Friday after it finally hit the buy target I gave 2 weeks ago. I’m looking for a gap up or early momentum to kick off wave (3)


$NFLX appears to be in the same 1,2-1,2 pattern as many market leaders after putting in a leading diagonal for wave (i) and a zig zag wave (ii). I will be looking to enter on a pullback. Invalid below $492


Wave iii of (v) looks to be starting. I will look to enter on a small pullback if it presents itself. Invalidation is $206.63


Notice the pattern? Another 1,2-1,2 set up in a major tech name… Look for an explosion this week from $MSFT. I already have a position open, but if I didn’t I would be looking to enter on the first pullback. Invalidation at $208.


$NIO looks just about ready to go. If it can hold above $38.46 I’d expect to see $57 by the end of the year.


I’m looking for $SPCE to retrace down towards $26-$28 before getting back in. From there, it should start a move back up targeting roughly 45 by late January. A trade may also be found playing a bounce off of $28.30.

I am very excited for the week, an I’m hoping we finally see that explosion that’s been setting up! I wish you all the best and hope everyone has an awesome week of trading!

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