The market is very strong right now, but we don’t know where things may go from here. We recommend sizing down in order to protect ourselves a bit as we are at some very extended levels. The Ichimoku Cloud and average true range (ATR) will continue to be great indicators to watch as you plan for the week ahead.
Here is our focused list:
FB – Watching to see if it will squeeze under all-time high (ATH) for a breakout toward 360+
GOOGL – Firing daily squeeze and 4-hour squeeze. It has accomplished its mission of hitting 2500 and could continue towards 2550
ROKU – Stalking a pullback and seeing if it will base towards 420. It could potentially work its way back to 463
SHOP – Watching daily wedge and 4-hour Cloud for a push back towards ATH
Stay Focused!