The bulls regained some control last week, as the S&P 500 (ES) and QQQ (NQ) traded above the 21 exponential moving average (EMA), in a bullish daily and weekly squeeze, and with stacked EMA’s and green 10x bars. This push in the indexes could lead the market to brand new all-time highs.
Heading into the week, watch the 4-hour squeezes in the ES and NQ which could set the tempo for a big move. Keep in mind we have monthly expiration and the final Fed meeting of the year, which could lead to back-and-forth action in the short-term.
In today’s video, we’ll review clean setups that we’re looking to add exposure to, as well as scenarios that need to happen before we can take action on certain names.
Stay Focused!