From the Desk of Kimmy Sokoloff
What a big bounce this morning. Unfortunately, I didn’t hold the $SPY overnight, which was a bad miss.
I’ve been looking for this 373 zone since last week, and we might just get there today. The exact level is 373.44.
The $QQQ still has more work to do. The level I’m watching is 283, in time.
What I’ll be watching today is if this gap higher in the indices will hold or pull back to yesterday’s highs, which on the SPY is 368.55 and on the QQQ is 275.16.
It’ll be a “watch and see” situation.
Here are some setups I’m watching right now:
- I’ll watching $TSLA to see if it can hold the 250 level for a bounce trade.
- I’m also looking at $TGT to see if it can digest this pop up and continue higher to 156.
I also have my eye on oil stocks for a quick short on this morning’s pop.
I’ll see you live at the open.
Here are a couple of key things to remember about what we’re doing here.
First, it’s important to be in the live chat. As you know, the market has been extremely volatile, and we’ll likely continue to see many ups and downs.
What that means practically is that I’ll update not just price levels but even particular names we’re watching as the market moves.
Second, please understand that the focus of our discussions is simply my opinion.
Your results will vary based on many factors and variables including execution, timing, and market conditions. All of these issues are completely out of my control — and yours as well.
Our mutual goal is to win more than we will lose and that, by adding some of my strategies, we’ll help you boost your overall success.
Remember, the market is on its own schedule and subject to change without notice.
We’ve had many questions about position and allocation sizes. I will never advise you regarding the amount of risk or portion of your assets you should invest.
All trades are at your own risk and can be discussed with your personal financial advisor at any time should you feel necessary.
Thank you for joining us, and I look forward to working with all of you!
And please reach out with any questions.
We’ll see you LIVE on the ASC Rangefinder app to start the trading day.
All Star Charts Team