The market is closed on Dec. 24 for Christmas, so it’s a shortened trading week. The market has been more difficult to trade the last few weeks as recent events have caused more volatility and chop. Because of this, we’ll want to take shorter, quicker trades this week as premiums will be taking a beating.
Trade small, trade smart, and enjoy the week with family and friends.
We’ll finish off the rest of the year strong and approach the market in an appropriate manner heading into the new year.
Here is our focused list:
GOOGL — On Monday, GOOGL fell below the daily Ichimoku Cloud but finished the day inside of it. As long as it holds above the Ichimoku Cloud, it’ll be inside of a weekly squeeze. Let’s see if GOOGL can hold the $2,820 to $2,823 zone and reach Point of Control (POC) at $2,863. From there, we could potentially see a boost to $2,900. If GOOGL heads lower, we could see a lot of chop. If we break $2,788, things could start to get ugly.
NVDA — NVDA traded at the Ichimoku Cloud and the $271 key level, filled the gap, and started to pop on Monday. Let’s see if NVDA will hit POC at $283.60. If NVDA can keep holding the Ichimoku Cloud, look for a push through POC and a reversion to the mean at the $296 to $300 range. We could see a nice dip buy opportunity with NVDA.
Stay Focused!