December 20, 2024

Good morning MonsterTrades.

Keep this in mind, when the market is running higher the number one thing you will hear; "I wish I could buy at lower prices".  As soon as the opportunity comes, they run.  Then they'll chase it higher again.  This is the most common mistake made by traders / investors.  Here is your reminder to not be that person and stay focused.  Understand this is a very short term event and nothing has changed technically for the overall market.

Over 6 trillion in option will expire today.  This is very manipulated price action and Powell knew exactly the chaos he would cause by stating what he did on Wednesday.  With that said – you have an opportunity to add your favorite stocks at cheaper prices here.  Take advantage and do not be surprised by end of year this entire move is made back plus more!

Here are the key lines to watch today.  Silence everything else we will lay it out for you.  QQQ massive line sits at 506.  SPY massive line at 577.  Touch and go expected here.  

Breath now overdone. Expecting violent action and to the upside next week.  

With that said we adjust our stops and patiently wait to add.  Don't allow a terrible opening to shake us out here.  

Adjust our stops on JOBY to 6.50, LMND to 35 and IONQ to 35.

We have time and this will look very different soon enough.  Patience here.