This MIGHT Lead To A Breakout | Stock Market Analysis & 6 Trade Ideas

In the Mid-Week Market Update show, we do an in depth stock market analysis and show you trade ideas headed into the end of the week of October 6th 2021.

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00:00 – Intro
00:17 – S&P Sectors
02:13 – Interest Rates (10 Year)
04:00 – Volatility Report
04:41 – SP500 Technical Analysis
06:22 – Market Internals
08:06 – Market Profile
10:12 – QQQ Technicals
11:36 – IWM Technicals
12:12 – Trade Ideas (AMD, UBER, WFC, C, DKNG, ASO)

The SPY is now stuck in a major area of balance. For the past five days we really haven’t made significant progress in either direction and we would only expect things to change in the S&P500 when the top end or bottom end of balance is breached. To the upside we have the gap as a target overhead. On a look above and fail we should retarget the bottom end of the range.

The QQQ and nasdaq stocks have shown relative weakness to the SPY, yet again making lower lows. However they started to break a critical resistance trend line. On the 30 minute chart we can see that we technically have a close above key resistance. IF we can see follow through this may build the case for a higher SP500.

IWM Russell 2000 and the small caps have not gone anywhere in all of this madness, thus signaling neutral risk….still.

We also look at trade ideas in AMD, UBER, WFC, C, DKNG, ASO.

If you’re a day trader looking to make fast money online this stock market analysis has you covered! Keep these areas of support and resistance in mind, as well as any technical patterns, before taking on the rest of the day trading week.

Going into the trading day with a plan is important and will give your trading the edge you need to be a successful retail day trader. This S&P500 analysis will give you that edge.

Instead of looking at stock market news and googling ‘stocks to trade today’ or best options to buy today, every Monday morning, technical analysis makes our job a lot easier. A quick glance at the stock chart can tell us where to expect buying and selling battles.

$SPY $QQQ $IWM — These are the three market index funds that are always on our trading watchlist. Some people call them hot stock picks but we like to call them our ATM.

This MIGHT Lead To A Breakout | Stock Market Analysis & 6 Trade Ideas

#OptionsTrading #TradeIdeas #TechnicalAnalysis

DISCLAIMER: The information provided in this video is for informational purposes only. It should not be considered financial or legal advice. I am not a Registered Investment Advisor. Buying and selling financial instruments is highly speculative and carries risk.