The Shakedown 11-24-19

Sideways Week

Completely healthy sideways action out of the market this week as we spent most of the week just digesting the breakout move in the indices. Many individual names remain strong and we're still in a great trading environment.

On the trade war front, there was a Thomas Reuters (shoutout TRI) article Thurday stating the Trade Deal could be delayed until early 2020. Stocks largely shrugged off this negative news as they have been since we broke all time highs. We will have to continue to monitor stocks reactions to these headlines and whether or not we continue to shrug them off.

Earnings season's end is in site as we're front loaded Monday to Wednesday this week with reports and not too much going on the end of the week. 

Click the Pic for Detailed Look

Wanted to make this trade of the week but risk right now looks like $3 and making $15 in this name will take some time, hoping it tightens up by the trigger

EA Long

EA has been basing since February and finally appears ready to break out of the base through $100. Can't ask for much more than 9 months of consolidation creating a well defined box. Will definitely need some patience with this one as its definitely a more macro trade. Wouldn't expect huge feasty moves, but more of a grinder.

Trigger: $100

Stop: $95.89

Target: $116-120+

Hope to see you in the chat Monday!

Watchlist coming in the following email.