Finally… A Pullback!


We are finally seeing that much needed pullback that we’ve been patiently waiting for! We’re nearing the 2-3 average true range (ATR) Keltner Channel bands, which signals that the market is extended and close to a healthy pullback. That is what we are seeing play out now. If you’ve been listening and following along with Focused Trades, this reversion shouldn’t be much of a surprise. Pay close attention to the Nasdaq as the technology leader should drive the market higher.

Here is our Focused List:

NVDA: Pay attention to the price action after the stock splits into four on Tuesday to a $187.75 stock price. Will we get a big rip, a big drop, or will it stay neutral?

ZM: Finally breaking above the daily Ichimoku Cloud and experiencing its first healthy pullback. Possibility here for a dip buy. Looking for a pop back up to the daily mean at $370.

ROKU: One of the names that closed green and a name to keep an eye on for a move higher. If it breaks the 30-minute Ichimoku Cloud, we can expect a reversal. Looking for it to hold above $410 and above the 30-minute Ichimoku Cloud. Key levels at $420 to $425.

TSLA: If it breaks above the 30-minute Ichimoku Cloud, we could see a rally.

FB: Sitting under the 30-minute Ichimoku Cloud, looking for it to rally above.

Stay Focused!