Time For Stocks To RIP Higher?
Some Top Trade Ideas For The Week
Now that we have the CPI shenanigans numbers out the way and the market pushing new all time highs, it’s now getting very difficult to make a compelling bear case for US stocks.
Today is likely to be a little choppy (CPI days tend to be), but on the other side, provide the market doesn’t shit the bed, there’s a lot to be positive about.
I learned a long time ago not to pick fights with price so in this weeks letter, rather than re-iterate our bullish outlook that we’ve had for a month now, I’m just going to keep it brief / simple and stick to some of the best looking charts for your consideration over the next week.
If you picked up last weeks letter, hopefully the ideas in China are going well for you.
I’ve got some bangers prepped below for those who subscribe beyond the paywall.
Invesco QQQ Trust (QQQ)
An update to last weeks chart, and with the biggest charts in the US Markets moving above key price levels, if the break out here sticks the landing, I’ll be working with 12% further upside as per the chart.
I also take the view we’re potentially moving into a HEAVY risk on environment because both small and micro caps (charts covered last week) are on the cusp of breaking out as well.
So I’m moving much more out on the risk curve just now with stock selections and here are a few of the 85 premium charts our clients and members are working with just now.
SoFi Technologies (SOFI)
Sofi is 1 of our recent buy low : sell high charts and with a 16% short interest, it’s a chart worth adding to the watchlists because if it breaks out, I think it probably flies.
NU Holdings (NU)
NU reported earnings after hours last night and by my reckoning, the numbers looked very good. If it can stick the landing on a break out, again, I think there’s some solid upside targets to aim for.
Alcoa Corp (AA)
Alcoa Corp has also been working well over the last few weeks, we’ve been bullish since $34 but it looks like it also wants higher prices.
Sea Ltd (SE)
Another chart on the cusp of breaking out on the back of earnings, again, I think there are some solid targets to aim for.
In Summary
It’s been a great last few weeks since the NYSE Composite signalled the market bottom a month ago.
Hopefully my work on the broader market has continued to aid you in some way.
If the major indexes stick the landing on these break out attempts, I take the view the perma bears are going to lose their minds.
And I’m here for it.
Have a wonderful week and thank you for subscribing to my quality over quantity work. Go tell your friends.
Access Our Premium Content & Chart Books