Weekly Focus List for 10/30 - 11/3👻🎃

Economic calendar

Huge week ahead with employment numbers, and FOMC. Patience this week is the main focus, it’s likely we have a choppier market Monday/Tuesday then we will see more momentum Thursday/Friday.

Main Focus

$NVDA

Last week, NVDA failed to hold the KEY 410 support level and pulled back into 400. For this week, if NVDA fails to hold under 400 then it can set up for a move into 398-395. For NVDA to work under 400 we need market support or a bearish catalyst. if NVDA can hold over 400 again this week then I would focus on a bounce.

The 400/410 levels will be the main focus for an entry. I like the 395p under 400 and the 410c off of 400 if price action matches a bounce.

$META

Last week, META gapped down following earnings and sold off into the 280 support before bouncing back into 300 where it failed to reclaim. The main trade this week will revolve around the 300 resistance. If META can reclaim 300 and we see SPY hold 410 then it can set up for another 2-3 points of upside. If META continues to hold under 300 then puts can work for a move back into 293 and under 293 can see 290.

Watching the 295p off of 300 or the 290p under 293. Also watching the 305c over 300

$TSLA

Last week, TSLA failed to reclaim the 220 resistance level and closed under the key 212.65-213 support zone. If TSLA fails to reclaim 212.65 this week and it gets the move under 205 then it should be set up for a move into 202 and then a 200 test. If TSLA fails at 200 then it can set up for a move into 190.

Watching the 200p under 205 and the 215c over 213.

$SPY $QQQ analysis/game plan for the week ahead.

Last week, SPY and QQQ ended up seeing a major breakdown and SPY sold off into the 410 support where it found some buyers and ended up closing above on Friday. QQQ sold off into the 342 support zone. For this week, QQQ needs to hold 342 and reclaim 346 to set up for a bounce. Sbove 346 QQQ has room into 350-351.15 and in this range, I would start to focus on a possible reversal. A reclaim and hold of 351.15 sets QQQ up for 353. SPY needs to hold 410 to have a chance of a bounce. Upside targets on SPY above 410 will be 412, 413.80, and 415. If SPY fails at 410 then it could ultimately set up for a move into the 400 support zone. In terms of economic data this week we have consumer confidence, ADP employment, ISM manufacturing numbers, and FOMC this week. FOMC this week will be the main focus and I do not expect this week to be easy by any means since we also have AMD and AAPL earnings. It's likely we see slow momentum before FOMC where the number of trades will be limited. Keep it light, and stay very patient, and let the setups come to you.

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