The market just gave us one of the most bullish setups we’ve seen in a while. After yesterday’s Fed Day shakeout, we gapped up today and saw a strong all-day rally. The QQQs broke out of a key trend line, the SPY hit all-time highs, and the IWM is holding its own despite seven straight days of gains.
Key Market Moves:
- SPY: Broke and held all-time highs, confirming a strong bullish trend.
- QQQ: Finally broke its trend line and large caps are heating up.
- IWM: Still holding up after seven days of gains, showing that small caps are participating in this rally.
Stocks to Watch:
- Meta (META): 21 points today, breaking through key levels. This stock is hot, and all dips should be considered for buys.
- Tesla (TSLA): Broke out of a range today and looks primed for more upside. Watch for continuation tomorrow.
- AVGO & TSM: Both semi-stocks are in strong setups after breaking out of ranges. Add these to your watchlist for potential gains.
- RCL & Lunar: Strong volume and bullish patterns. These names are worth keeping an eye on in the coming days.
Conclusion:
With tomorrow’s Opex, we may see some volatility, but the overall market structure is strong. Be mindful of your stop losses, but don’t hesitate to take some calculated risks with swing trades to capture the momentum. This was about as good as you can get on follow through for a post Fed Day. The market is hot hopefully we get a 2-3 day pull and we can really load in.
P.S. Don’t forget to check out our 60-Day Bootcamp for all traders: 60-Day Bootcamp we start up in a week!
