The markets finished the week relatively neutral. There are setups that fit the bill of our “buy the dip” checklist like ZM and CHWY. The issue is the SPY and QQQ are slightly oversold.
While CHWY and ZM are not oversold, we know that “as goes the market goes the stocks”. Our best bet is to wait patiently for a pullback.
The ideal time to take these trades is when the SPY and QQQ pull back to the 21 exponential moving average (EMA) and are set up to move to 2+ average true ranges (ATR).
In the video above, we’ll review the SPY and QQQ and introduce setups on our watchlist.
Stay Focused!