Hello Everyone,
Quick Notes: The major indices all closed higher today with solid breadth. However, the SPX/QQQ gave back some gains in after hours following reports by AMZN/AAPL. During today's session, I spotted a rising wedge (ending diagonal pattern) on the Nasdaq Futures two hour chart (NQ) which played out nicely with NQ falling over 150 points following those reports. ES support 4550-65 which remains intact for now. Also worth noting that the Put/Call ratio closed at 0.66 (lowest reading since early July).
On a personal note, I'm working through Covid after testing positive on Monday so will once again keep things brief tonight.
Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to re-examine each night. Consider making a fresh top 10-12 setups each night and put on front page along with existing trades. My advice is to keep your total ideas to a manageable number. Lastly, it's best to wait at times for valid setups to form - sometimes less is more.
Please take a moment to look at the trade ideas.
