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Show Notes

Summary of the day

A pullback to the 50 day ma for $SPX would be normal and still maintain bullish momentum. Keep watching yields. Under 4.5% is good. Over 4.5% is bad.

Trade setup

I wanted to share a freebie trade setup. This is a preview of the type of technical setups I wll share from my observations of hundreds of charts and companies per day.

$ARKK. Most will know this stock as ARK Investment Management LLC, managed by Cathie Woods. She is usually a regular on CNBC talking her book. The entire holdings of $ARKK are here.

Top 10 below:

Perfect setup whether you are bullish or bearish. Defined risk, defined stops. Offers initiative trade expectations. If you got in on Dec 13, 2023, it offered a nice pop for a trade. You could have easily sold for profit before the New Yrs eve party.

ARKK today:

It is currently offering a similar balance area to watch and trade. If you are bullish in the market and thus bullish on $ARKK, as it has performed very well in line with QQQ, you can go long or buy options as it breaks up initiatively out of this range.

If you are bearish