The Shakedown 1-24-21

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LAST WEEK, S&P 500 (+1.91%)

Monday: OFF

Tuesday: +0.79%

Wednesday: +1.38%

Thursday: +0.09%

Friday: -0.35%

Stocks continued to trend higher last week. This market has been pretty unrelenting the past few months, individual stocks have been making incredible moves. It has been a great time to trade the way we do. We are heading into a huge week of earnings with names like AAPL TSLA AMD FB MSFT and CAT all reporting this week alongside hundreds of other companies. It's imperative to always know when a stock you're trading has earnings.

This market needs sideways action or some sort of consolidation pretty badly from a technical standpoint. But with the moves we've been seeing within individual stocks, who knows how long this run can continue. Just currently sticking with the script until we see something change. The IPO market has been insane the past few weeks, we just saw PLTR run 25% on Friday among a plethora of other runners out there. So I will put more of my focus towards those setups this week as that's been working best.

Overall we don't need to see the market rage everyday for names to continue to trade so well. As long as the market doesn't fall apart we should still see risk-on behavior.

Earnings This Week

Click the above picture for a full list of the companies reporting this week

Massive week of earnings incoming.

*MAKE SURE YOU KNOW WHEN STOCKS

YOU'RE TRADING HAVE EARNINGS*

A Million charts out there when the market is this strong. Favorites heading into the week:

NLS, SNOW, FSKR, LAZR, DKNG, NFLX, DOCU, VEEV, API, CVAC, W, KRON, GRAY

FSKR Long

FSKR prvoides customized credit solutions to private middle market companies and are one of the largest managers of business development companies based on total AUM. Basically they lend money and invest into developed and profitable companies in the private market.

Their daily chart is so incredibly tight, it looks like its winding up to explode higher through the 17.30/17.50 resistance area. Looking for an explosion of volume through that area.

Trigger: $17.30 / 17.50

Stop: $16.49

Target: $19-21+

Click Below for this week's Watchlist

Hope to see you in the chat Tuesday!