Hello Traders & Investors,
Scroll down to see the stocks we have on watch this week
We’re back to another Weekly Market Brief & Watch List
What a week for the SPY as it crawled back from the depths of the low $400s. We’ll see if it can hold this momentum going into the week. With the schedule packed with earnings once again, we will be in the lookout for reports from big names to have an effect on the market.
We’ll also likely see a lot of action influenced by Fed Chairman Powell who is scheduled to speak twice this week as well as reports on the U.S. trade deficit.
Recent Winners Tracking
AAPL…111% from 10/30
GOOG…303% from 10/24
PLTR…73% from 10/18
RIVN…102% from 10/16
AAPL…238% from 10/12
AFRM…80% from 10/12
PEP…115% from 10/10
RTX…307% from 10/9
X…34% from 10/5
PYPL…165% from 10/4
*Max gain potential on options alerted so far/before expiration
🚨 Start a FREE Alerts Membership Trial!
(3 to 5 options alerts sent weekly)
Weekly Learning Focus
Where do you get out of a trade when you’re on the wrong side? 🛑
STOP OUT WHERE YOU KNOW YOU’RE WRONG‼️
Stay in the game & manage risk like a disciplined pro and you will have a chance, king. 👑
Does learning a winning foundation for your trading interest you? You should consider our Trading Course for Beginners that we built into our Trading Room on Discord.
The course is designed for beginners or new traders looking to build a solid foundation for their trading and investor career. We took an A-Z approach in covering the critical aspects all traders will encounter in their journey.
We are now offering a 7 day trial to our Premium Trading Room for just $5! If you’ve been wanting to try out all of the Premium channels in our Trading Room, there’s no better time than right now!
S&P 500 ETF (Ticker: SPY) – Daily Chart
Opened last week at: $413.56
Hit a weekly high of: $436.29 on Fri 11/3
Hit a weekly low of: $412.22 on Mon 10/30
Closed the week at: $434.69
After a big week of earnings and Fed reports, the SPY was able to catch a $21 bounce making its way back up to the $434 level to end the week. If bulls maintain control, look for the $437. 50 level to break and hold for confirmation of a possible move up to test the $444 level.
However, if the market gets heavy look for support around the $430 level. If support fails we could see a move back down to $425-$420 levels.
Charts Provided By: Finviz
Weekly Stocks to Watch
Here’s some of the stocks we have on watch for the beginning of the week…
As always, we’ll be heavily focused on our news feeds & scanners for prime opportunities throughout the week.
Uber Technologies (Ticker: UBER) – Daily Chart
A strong run up on Uber the last few days. Now coming into a resistance zone just under $50 that’s been a big spot since September 2021. With earnings around the corner on Tuesday, this could be a breakout or breakdown candidate. If $49/$49.50 start to gain steam a breakout is possible over $50. If $47/$46 start to test to the downside, a move back to mid-lower $40s is likely if $45 does not hold.
Apple Inc. (Ticker: AAPL) – Daily Chart
Been nailing the pivots well on this name for the last few weeks. A couple big volume days after earnings has this ripe for a possible breakout over $178. This could test the $180’s if tech trends bullish. If action starts to exhaust out under $180, a move back down to test the downside of $170’s and $160’s is possible in the current channel/trend. $173.50 could be a trigger area for a bigger move down.
Roku (Ticker: ROKU) – Daily Chart
Having a strong reaction to earnings, this name is quickly finding itself in overbought territory. There is room to $90/$100 test in the big picture if buyers/volume can sustain. $86 becomes a big spot to the upside for that possible breakout and test of $88/90 area. Alternatively, this could retreat quickly if sellers overpower, similar to last earnings call in July. $85 could develop into an over/under spot, with a break under $80 being a trigger for a larger move back to low $70’s/$60’s.
Boeing (Ticker: BA) – Daily Chart
Having a decent reaction to earnings the last few weeks. Coming into a critical $200 spot which was resistance last attempt to breakthrough. Look to the recent high over $197 to give weight to a possible breakout attempt. Otherwise, under the $194 area this could find a quick retreat back to $190 test and the $180’s range.
Ready For An Alerts Membership?
We offer a 100% completely FREE 7 Day Trial, so you literally pay nothing to try out our service for a week. Receive 3-5 trade alerts THIS WEEK.
If you decide that we aren’t the right fit for your type of trading, you can easily cancel your membership any time before the 7 days is up, and you won’t be charged.
The Trial even INCLUDES our SMS/Text Alerts, which most of our members choose to opt into.
*Interested in becoming an Affiliate? Join the Pure Power Picks Affiliate Program! Sign up now to become an affiliate marketer and earn money on every successful sign up you send our way! Click the button below to sign up now!
Like the charts we use? Now you can use them on your mobile device with an app, browser, or desktop. This is the best charting available on the market right now for the average trader. Learn more about TradingView in our review here!