First few days of 2025 in the books. I was very pleased with the action Friday. Thursday the market was selling and the QQQ briefly broke below the 50sma. A firm break below the 50sma will have me risk-off for the time being. However, we broke below and it acted as a trap to rope sellers into the setup (so far at least). Friday's action picked up where Thursday left off as we gapped higher and moved higher the rest of the day. Besides the indices showing (somewhat) strong action, the action under the hood is what really impressed me. We saw the themes of the end of 2024 all come right back. TSLA, RDDT & PLTR were up huge. NVDA began breaking out. OKLO from the nuclear theme was up a cool 25%. This is the type of action we see in bull markets, so I am trading under the impression that the Thursday/Friday reversal will have the best stocks moving higher this week.
Rates continue to pump higher which I do not like to see. Do not want to see the 10 year test October '23 highs. Will continue to monitor the action here. As long as stocks are moving well under the hood, I want to be involved. Large plethora of setups I'm looking to buy this week included in the report below.
We have earnings season for Q4 '24 kicking off the end of this week. Let's collectively hawk every single stock that has a positive reaction for that post-earnings setup we crushed all year.
Let's hit the charts!
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