It’s been a big week for the market as we approach options expiration on Friday, which typically brings more chop and larger drops/pops.
The S&P 500 (ES) is starting to form a 2-hour squeeze heading into Friday. If the ES can rip through $4,711 we will likely see the squeezes fire and the ES move higher. On the other hand, we could see ES pull back to point of control (POC) at $4,673.
Our focus is on technology as it was the strongest index on Thursday with the Nasdaq (NQ) reaching an all-time high (ATH) at $16,490. Keep this ATH marked as a key level on your charts along with POC at $16,340, as these are the levels we’ll be watching for the NQ move.
Watch the video above to view setups that are exploding like GOOGL, SHOP, and AAPL. To view and download the Trading Calendar 2021 referenced in the video, visit the link here at Nasdaq Trader.
Stay Focused!