The Shakedown 1-19-25

by Shake P
Strongest week for the market since the election as the S&P & Nasdaq collectively closed just shy of gaining 3% each. We opened the week with a gap down, closing the gap from the election, that found big support. CPI Wednesday came in light causing the market to surge higher in the pre market while continuing to gain all day. Thursday was a fakeout move as bears were in control all day from the opening print, only for us to open above Thursday's highs Friday and hold onto gains. We have off tomorrow with it being MLK day but also Trump's inauguration.
 
Overall I thought we saw very healthy action this week as bulls fought off every attack the bears put on this week with many charts setting up. Do we get a "trump bump" from the inauguration Monday?
 
We are extremely light on the economic calendar this week but have our first big week of earnings with Netflix kicking off tech this Tuesday afternoon.
 
Let's checkout some charts.
 
 
 
 
 

 
Economic Data This Week

 
Upcoming Earnings
 
 
First big week of earnings on tap! ALWAYS know when your stocks are reporting earnings. We typically do not hold stocks into earnings unless we have a 20% cushion in the name.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
AVGO Long
 
 
 
AVGO proved it wanted to be a market leader last time it released earnings when it ripped 35% in the two days following the print. In the 5 weeks since it's digested the move and finally began to turn higher off support last week. Now we are looking for follow through playing off Friday's inside day below the inflection point. Watching 239 for the entry.
 
Trigger: $239
Stop: $229.89
Target: $285+

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