A Top Down Analysis For 2022 | Options Trading Weekly Watchlist

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During the Weekly Watchlist we review the best stocks for options trading. We go over key levels of support and resistance and create an actionable game plan for the week of January 3rd 2022.

Taking a top down approach in the SPY we see a monthly bar with a solid lower wick and a higher high in place indicating buyers stepping up, this would suggest higher. Down one step to the weekly we have more of an inverted hammer but are clearly above the top of the weekly range, another bullish indication with the caveat that there was *some* selling on light volume. The daily would suggest that we are forming a bullish flag pattern with the line in the sand around 470.4. Internals dont have any divergences and support the liquidation break theory from Thursday / Friday. Profile shows us a more nuanced bearish perspective that we are below the spike from Thursday but remember that is only one data point.

In the QQQ and Nasdaq we see more divergence, in the sense that the monthly bars have opposing candles which would come together to form an indecision doji type candle. We also did not get the higher high which is a more bearish indication. The weekly inverted hammer is much more severe and sitting right on the top of the balance area, not well above like the S&P500. The daily is also experiencing pullback and is back down under that 400 breakout level.

IWM and the small cap stocks are back at the mid point of the range and supporting the neutral theory. The monthly consolidation continues, the weekly consolidation continues, the daily consolidation continues.

00:00​​​​​​​​​​​​​​ – Intro
00:38 – SPY Top Down
05:33 – S&P500 Sectors
11:10 – NYSE Internals
12:40 – Market Profile
13:48 – QQQ Top Down
17:20 – IWM Top Down
19:33 – Core Companies (AAPL, NFLX, TSLA, BABA, FB, NVDA, MSFT, AMZN)

If you're a day trader looking to make fast money online options trading, you certainly need to keep these areas of support and resistance in mind, as well as any technical patterns, before the opening bell on Monday morning. Stock analysis like this will save you a ton of time.

Going into the day with a plan is important and will give your options trading the edge you need to be a successful retail day trader. This stock analysis gives 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 my job a lot easier. A quick glance at the stock chart can tell me where to expect buying and selling battles.

Our core watchlist are the stocks that are always on our options trading weekly watchlist. Some people call them hot stock picks but we like to call them our ATM.

#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.