TLDR: Four down days, then one bounce. 27,000 is still the line. Trade the market first. No new stock trades until Nasdaq confirms an uptrend. TQQQ at $74.20 is the first trade. Fourteen deep dives plus honorable mentions.
Welcome back to the Weekly Trading Plan. Here’s what we’re covering:
Market Pulse. Four down days, the 50-day held, 27,000 is still the line.
The market trade.
Space and software.
AI and memory.
Healthcare and biotech.
Crypto and other.
Honorable Mentions. A longer list of names worth watching.
Closing Thought. Trade the market first.
How we trade these names. This is not financial advice. Be sure to do your own research. Managing risk should always be your priority, and that means never blindly buying into names you see on a newsletter. Build your system and follow your rules.
Market Pulse
Four of five days were down on the Nasdaq. The first four days of the week. We went through the 10-day, the 21-day, and the 50-day, then found support at the 50-day, closed above it, and gapped so Friday’s low sat back above the 21-day.
Four days of discouraging price action. One day of encouraging price action at the end.
Net-net we ran into the same resistance we have been watching. Marked on the chart at about 26,700. Call it 27,000. We need to punch through that area to resume an uptrend.
FOMC is next week. That could be a catalyst through the range. It could also be noise. The stocks are giving false moves. The market is not breaking the range.
The most risk-averse trade is to wait for the market to confirm before entering more stocks. That is the play this week.
Trade the market first. I have three open positions. I am not opening any new stock trades until the Nasdaq confirms a new uptrend.
Futures are down, as is sentiment right now. We need a positive expectation breaker in the major indexes.
