The Shakedown 10/27/19

Market Ready to Break Out?

As it appears we're getting closer and closer to a deal with China, the broad market closed at breakout levels with Nasdaq leading the way. There are a plethora of setups out there and earnings have been pretty solid thus far.

We have an absolutely massive week of earnings ahead of us, along with a Fed decision Wednesday so there will be plenty of market moving news every day. The market of course wants to see another rate cut, we'll see if we can still get it with the market at highs. If we see a China deal reached the market will soar.

Click the Pic for Detailed Look


We have to pound the table on this Microsoft. This is an A+ setup behind their stellar earnings report combined with a huge macro pattern. MSFT is a market leader and with Nasdaq leading the charge Friday, this is a can't miss trade. It's currently gapping up a bit but we'll see where it opens Monday. $142 is the big resistance.

Trigger: $142

Stop: $138.49

Target: $155-158+

Hope to see you in the chat Monday!

Watchlist coming in the following email. Big watchlist as the compilation of the best earnings names gets started. Tons of stocks out there I'm just waiting to setup a bit more before they're ready.

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