Monday Market Breakdown
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Friday’s performance seemed a little bearish overall, but as we have said for the better part of the last couple weeks, any pullback may just be an opportunity to go long. As you can see on my charts in the below video, the trend is still very much up across the major indexes, so remember that we don’t want to fight the trend.
The trades you are looking to make should mostly be to the upside, however, if there is a clear resistance level on your chart that you have found, you could play a short term put only if the setup calls for it. Otherwise, most of the trades we would be looking at would be to the upside as the market still appears much too strong to reverse course just yet.
The tech sector is an obvious choice when looking for long positions to put on and Friday may have been just what we needed in order to get in on the action, a healthy pullback that is setting us up for a move higher.
The stocks in play from out point of view are Apple (AAPL), Microsoft (MSFT), Tesla (TSLA), Nvidia (NVDA), and Coinbase (COIN) for a refreshing look at a newer stock. Stay patient when looking to put on your next trade and be sure to have more than one confirmation as to the validity of your trade in order to give yourself the best possible chance at winning.
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