Arete Sunday Newsletter

Are we ready to Rocket ? 🚀🚀📈

Are we ready to rocket higher in tech? The answer is no one knows. Yet! As I have stated for some time, we have seen the bottom in the $QQQ, $297 level has held and not even been retested. This is a pretty clear sign that tech has bottomed. For more clarity on the issue, we can look at the $SOX index(Philadelphia Semiconductor Index). On Friday we found out that the EV car companies are having trouble meeting production goals due to the lack of chip supply. $NIO is closing down production for 5 days and this did spill down into the other names. $TSLA was weak all day on the news. It would be very hard for the Nasdaq-laden tech sector to correct more with semiconductor stocks going higher. We saw the beginning of the $SOX breaking out on huge volume at the end of the day on Friday. Six times the normal volume! Watch for the $318.50 level on the $QQQ as a sign of follow-through. Second, we need a close above the 50 day moving average $321.

It’s a tale of two tapes. The SPY looks great. Someone should tell it there is a correction going on. We rallied over the $394.17 level and the 5 and 8-day moving average and pointing up. we are 2% off the high and look ready to break it. The $IWM tested the lower trend line of the upper channel and bounced back within three days. (Three days is needed to keep the trend intact.) We need to start clearing hurdles. The next one is the 50 day.

I stated earlier that we need the leaders to break in order for this to be over. We needed selling at any price. This actually happened this past week but in other leaders, not the blue-chip stocks I was expecting. We had massive selling at any price in $BIDU, $VIAC, $DISCA,$TME, $IQ, and $FUBO as well as others. Bill Hwang, a hedge fund manager, was trading at 5 to 1 leverage and blew up over the past week on a 15 billion dollar portfolio that led to a massive liquidation. Long-term Viacom and Discovery are buys once the dust settles. Short term $BIDU $TME looks the best for short-term trades. There is a video linked below showing the top buy ideas for the week as well as extensive coverage with actionable buy points of the carnage. Last week’s NFT video had buy recommendations that doubled in a week. I would highly suggest you watch this one.

Let’s Look at the indexes!

Let’s look at the stocks!

Expect more stock adds shortly.

Subscribe to YouTube! 👈Subscribe and turn on notifications. Below is a link for the top ten stocks to watch next as well as coverage of the stock market implosion of $DISCA $VIAC $BIDU by Bill Hwang hedge fund.

As always all investment decisions need to be made by the individual. We all have different risk profiles.No two people trade the same. Understand the buy points, stop losses, trims are suggestions. For example on stops. I want to see it close there at the end of the day.

You need to develop your own process. I am willing to help and offer feedback.

Please make sure you Subscribe to Twitter! 👈and turn on notifications. There are times my updates are timely in regard to the Newsletter. I called key levels on the $QQQ buys and $TSLA shorts today.

Any questions please message me.

Thank you again for all the messages telling me how this Newsletter improved your performance and made you a better trader!

Wishing everyone Massive success!

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