Will The Market Correction BOUNCE At Support?! | 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 December 6th 2021.

In the SPY we continue to see big volatility, and massive intraday ranges. Because of the whipsaw nature of a market in the throws of volatility, the direction into this upcoming week isn't abundantly clear. There are no patterns to help us out and we also did not hold at the daily 50 SMA. Instead, we will just remember that the higher time frames are still in bull trends, and we are quickly approaching support trend lines. Focus is on 444.5-446.5 support trend line based on time of week to the downside, and to the upside 462 is the most important resistance.

In the QQQ and Nasdaq we see less impact from the news on the variant and some decent relative strength still. Watching this back test of the head and shoulders neck line, and making sure we hold the prior swing high and 50 SMA around 382.

IWM and the small cap stocks have now officially seen the look above and fail back down firmly into the range. The small caps have the most to lose in terms of shut downs and travel restriction. Being back in the middle of the range they are signaling risk off and a move to the bottom end of the range should be anticipated. Could we get some oversold bounces first? Yes. But ultimately the lack of strength the past few weeks has been incredibly telling.

We also look at the following trade ideas: WMT, DELL, HD.

00:00​​​​​​​​​​​​​​ – Intro
00:48 – Broad Market (SPY, QQQ, IWM)
16:13 – Core Companies (AAPL, NFLX, TSLA, BABA, FB, NVDA, MSFT, AMZN)
28:02 – Trade Ideas (WMT, DELL, HD)

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.