Market Watchlist 1/3/22 - 1/7/22

Updated: Jan 3

Hello everyone , and welcome to the start of a New Year. I'm sure many of you have goals you have set for yourself for the upcoming goal , especially goals set in regards to trading. Some of you probably had a lackluster year in 2021 , and this year can give you a clean slate on that P/L chart. Just a little reminder , that you can achieve those goals with the right mindset , patience and discipline , take the mistakes from last year and work to improve them , and have a great trading year !


Earnings are going to be starting again mid- end of this month , so that should provide some trading opportunities , apart from that , just looking for some increased volume this upcoming week after last week's low volume. So let's get right into it.


(ALL TIME IS BASED ON MST)


(for all trades below I mention level hold, stop loss, etc, I'm using daily or hourly closes for stop losses or holds, you can trade the levels on an intraday basis !).


1. S&P 500 ETF ($SPY)

$SPY - DAILY UNTIL 12/31


SPY is back on the list , its did basically nothing all last week , apart from making new all time highs. We were trading on reduced volume , but did see an end of week breakdown back under 476 support. Will be interesting to see if buyers come in towards the former all time highs around 472.5 , or if we keep pushing to the downside.

KEY LEVELS:

479 - The all time high , when watching the tape on 12/30 , there were some pretty big sellers sitting up here , if wee do come back into this zone , lets see if buyers can overpower sellers and give us a short squeeze or if it will be more of the same.

478 ISH (477.8) - This zone acted as support all day on 12/30 before that end of day breakdown that pushed us into 476. If buyers come back in over 476 , a retest back toward s

476 ISH (476.4) - 476 was support from 12/28 - 12/30 , but then when buyers gave it up to end last week , sellers gradually started piling in. It wasn't exactly at 476 , as buyers spiked it a few times on 12/31 , bu for the most part as long as sellers hold under lower 476 range , I would prefer looking at short side trades. Getting back over say 476.5 and holding opens the gates for a run back towards 478 and maybe new highs again.

472.58 - The former ATH , since we broke it last week , we have yet to run a retest of this zone. Would be interested to see how price action acts hre if we do see some continued selling next week , as it could be a potential bounce zone .

470.89 - Very crucial upside pivot before this most recent breakout we had last week. Their is an unfilled gap at 470.6 ad this area was all the prior highest daily close before the breakout on 12/27. Will be a important area to watch on a pullback , if sellers take control under , it can start getting ugly for the market.


2. MICROSOFT ($MSFT)

$MSFT - DAILY UNTIL 12/31


Tried to get that new high going last week , but fell just short of breaking resistance , almost looks like we have triple topped just under 345. We broke that support at 339 last week , but find ourselves back at the breakup candle at mid 335 , but will buyers hold , or sellers flush us lower 👀

KEY LEVELS:

344.62 - The breakdown candle resistance , going to be very difficult to make a new high until this level can be breached , but if it does give in , new highs are very likely. Until it breaks , it is a good short location.

339.4 - was a multiday support last week before the gap under to end the week . If we see a bounce early in the week this would be my first upside target, Getting back and holding over this could help build momentum again for a potential retest of that 344 resistance zone. Staying under would help give sellers momentum to break that 355 support . So this level will be a good intraday pivot .

335.46 - The breakup candle , plus we did hold this zone to end last week. If buyers can hold we ca get momentum back towards 339, if buyers fail and stay under , we could get going back to the downside towards 330 again. (their is also an hourly buy zone in the low 334's like 334.2 ish , would use that ass a downside target as well.)

330 ISH - Seen better on hourly chart , we have had a lot of price action develop around low 330's -331 in the last few trading week's. Would use this as a downside target , plus a potential bounce zone for a long side trade. Break here would get us going back down into 325.





3. APPLE ($AAPL)

$AAPL - DAILY UNTIL 12/31


Apple , along with many other tech names were unable to make new all time highs this past week , despite the DOW and S&P soaring to the upside. Apple ran a retest of the former breakdown cadle , but failed to clear it. We ended a week with a sell back into the open of last week. Lets see if buyers come back in early neXt week , or if we continue to break to the downside.

KEY LEVELS:

181.12 - That breakdown candle at the top , we ran a retest last week , but as you can see , sellers came in. We consolidated a few days looking to break to the upside , but were unable to do so , not yet at least.

179 ISH (178.8) - Little more clear on the hourly chart but this zone held with buyers for 3 trading days before that eod flush on 12/30. If buyers can start holding back over 179 would could try for that upside breakout once again , but this is more of an intraday key zone for me this upcoming week. (not putting as much weight on this level as the others).

177.09 - Breakup candle to start last week , should ideally see some buyers here if they are looking to break to the upside next week. Buyers did come in off the zone to end last week , but if we see some selling early , could definitely look to break to the downside.

175.64 - Had some nice consolidation at this zone on the most recent move up , if sellers break under 177 , this would be the next downside zone I would have my eyes on. Under this I'd have mid 173 next.


4. NVIDIA ($NVDA)

$NVDA - DAILY UNTIL 12/31


Similar to MSFT we see a 3x rejection off 311 , but can buyers come in at support and flip us to the upside early next week. If not we could see sellers over power us here as well , back to the downside into 288.

KEY LEVELS:

311.5 - We have now seen 3 pretty large rejection/ breakdown candles from that 311-312 zone. Sellers are definitely setting up camp here. Would love to continue being short off 311 until the zone gives in. If it breaks we could set-up with a squeeze on the upside towards 320's.

300 ISH - Was an important intraday pivot last week , if buyers can get back over 300 , and hold for a few days with a higher base like holding consecutively higher , they could be looking to build momentum to break thru 311. While if we bounce into this zone and reject , short trades are look good.

294 - The current support as are sitting at, we have had buyer's step in a few times off this zone last week , but if it does break , things could start to get ugly , and back towards 288 would be very likely. Meanwhile if we hold , a rally towards initially mid 296 and the 300 would be probable (that is if we can get buying back over mid 296.

288 ISH - Very solid zone , has been respected very well over the last few months , as buyers hold over , while sellers like to stay in control under. Easiest to see on an hourly chart , and will be a key pivot this upcoming week if we do see a downside break. Next big zone under this would be that 272 breaku candle support.


5. ADVANCED MICRO DEVICES ($AMD)

$AMD DAILY UNTIL -12/31


Been a while since I've traded this name , but looks like we can have a nice setup in play this upcoming week. We saw some extended selling last week after the initial rally to start the week, and we closed the week at the lows. Let's see if sellers can continue to crush us to the downsie under 144.

KEY LEVELS:

151.64 - Former breakdown candle , which we broke thru last week. After we broke we held if for 1 day , but then the next day , we reversed back to the downside , and have not looked back since. If we see a rally early next week back into this zone , I would look for a short opportunity ,especially if we have a sporadic/quick move up. If we do break we could head back to the pivot rejection off 156.

147.5 -149 - The 147.5 was a breakup candle to start the week , but we failed to hold , and after that it turned into a nice short zone. Buyers did have a few intraday attempt of a hold , but off the hold sellers have continued to step in just under 149 in the later half of last week , and until we can get back over that 149 I would prefer to stay short here .

143.89 - Closed right into a support zone. If buyers can hold a move back to 147 is likely, while is we break we could see 140 pretty quickly.

135.11 - The next daily support zone i have is quite a bit down there towards 135. Their are potential spots price could reverse at before like 139-140 , but would like long opportunities better in that 132-135 zone , at-least for an intraday bounce.

EXTRAS:

$CRWD - $213 has still into bee able to break succssesfully , as long as we are under it's a good short , if we can break , I like log side into 217 and then 220+ .

$ROKU - The multi-week range continues , sellers at 237 , buyers at 221-223. We had 2 breaks over 237 last week , but buyer's could not sustain , and they rejected off 241. If buyer can hold over 237 for an extended period , watch out for a squeezee over 241 into 245 and then low 250's. If we break the downside zone 210 would be very likely.



 

That's it for this week's list, if you have any questions don't hesitate to contact us or drop them below. These are just a few stocks im keeping my eye on this week, and as always, do your own due diligence and realize that their will always be risks associated with trading !



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