SPY New Highs, QQQ Not So Much | Options Trading Weekly Watchlist | 10 May 2021

During the Weekly Watchlist we review the best stocks for options trading. We go over key levels of support and resistance and create an actionable game plan for the week of May 10th 2021.

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After taking some time to resolve its balance area, the SPY has finally shown some conviction in an upside break. With the chop back and forth through the balance area last week, it has been especially difficult to make a definitive call on direction. With an engulfing bar on Thursday and a continuation candle Friday, we are going with the larger break out of the daily bull flag which was never violated to the downside. Blue sky levels remain above. If the divergence in the Nasdaq brings us back down into range, 410.50 should be the target with bumps in the road at 416.15 and 413.50.

On the other hand we have the QQQ which has failed to make a significant close back into the range on Friday. This extreme divergence between the two and lack of clear close, has us on high alert for the 334 level. IF we get some acceptance above, look for a look below and fail scenario where we target 342.50. Rejection here and expect a roll over to the 50 SMA.

IWM and the Russel 2000 small caps continues to be choppy around the two major moving averages, 20 and 50. would expect further chop in the small caps, with a slight edge to the bulls after putting in repeated higher lows.

We also look at the following trade ideas: EBAY, CRSR, LRCX, DASH, HZO, OSTK, KO, EPD.

0:00​​​​​​​​​​​​​​ – Intro
00:38​​​​​​​​​​ – Broad Market (SPY, QQQ, IWM)
08:23​​​​​​​​​​​​​​ – Core Companies (AAPL, NFLX, TSLA, BABA, FB, NVDA, MSFT, AMZN)
19:30​​​​​​​​​​ – Trade Ideas (EBAY, CRSR, LRCX, DASH, HZO, OSTK, KO, EPD)

If you're a day trader looking to make fast money online options trading, you certainly need to keep these areas of support and resistance in mind, as well as any technical patterns, before the opening bell on Monday morning. Stock analysis like this will save you a ton of time.

Going into the day with a plan is important and will give your options trading the edge you need to be a successful retail day trader. This stock analysis gives you that edge.

Instead of looking at stock market news and googling 'stocks to trade today' or best options to buy today, every Monday morning, technical analysis makes my job a lot easier. A quick glance at the stock chart can tell me where to expect buying and selling battles.

Our core watchlist are the stocks that are always on our options trading weekly watchlist. Some people call them hot stock picks but we like to call them our ATM.

DISCLAIMER: The information provided in this video is for informational purposes only. It should not be considered financial or legal advice. I am not a Registered Investment Advisor. Buying and selling financial instruments is highly speculative and carries risk.

Видео SPY New Highs, QQQ Not So Much | Options Trading Weekly Watchlist | 10 May 2021 канала Trade Brigade