With the market super strong, but also very technically extended, we need to take it day-by-day. Right now we are focusing on the 1-hour cloud to start a reversal, and the 4-hour cloud is our first target. If we start to break below that, we could see a full Reversion to The Mean (RTM). Day-by-day and ready to buy the dip and short the move down! We always try to plan ahead by thinking in an “if this, then that” manner.
Here is my focus list for the week:
AAPL – We are watching intraday squeezes and for a hold above 130. If it breaks 136, it can potentially rally toward 138
NVDA – We are watching to see if it will hold 605, if it does, we start looking for a push up toward 650 with the weekly squeeze momentum
FB – We are watching for a RTM dip buy, which is right around 300. If it holds we would like to see a push up toward Point of Control (POC), which is sitting at 312.4
GOOGL – This ticker is looking very strong, we are watching intraday squeezes to break and push through 2300 for a move toward 2330/2350
SQ – We are watching for a RTM dip buy near the daily cloud and we’re also looking for move back up toward POC at 263
Stay Focused!