We’re sticking with our “buy the dip” game plan until the market proves otherwise. Below are key levels of support and resistance that we’ll use to navigate the market this week.
As mentioned in the Friday newsletter, the Big 3 indicator switched from bearish to neutral on the SPX weekly chart for the first time since March 2022. The lower time frame charts are also behaving like an uptrending market.
In the video above, we’ll lay out the key levels of support and resistance and targets above and below these levels. We’ll review names on our watchlist including NVDA, which we took action on last week in the Compounding Growth Mastery.
Mark these levels on your charts!
$3,900: Key support near the daily 21 exponential moving average (EMA)
$4,000: Key resistance, lining up with the daily 200 simple moving average (SMA).
The stock market is closed on Monday due to Martin Luther King Jr. day. There will not be a newsletter sent on Monday, but Chandler will be back on Thursday to deliver his focused list. In the mean time, enjoy your long weekend with family and friends, and we’ll see you again for trading on Tuesday!