Welcome to the latest edition of Dog Bytes!
SPX futures are flattish. We'll see if we digest with an inside day ahead of the jobs report tomorrow. $604-ish is active support.
QQQs became a focus last wee when it triggered above the wedge pattern, clearing $511 to see $523+. We've had fantastic moves in our go-to Mag7 names." We are a little extended here, so take some care. $519-ish is active upper support.
Now let's dig into strategy points:
Bitcoin became my #1 theme on October 11. It had a beautiful move from $62Kish to $103K+ overnight. WOW! We participated along the way in Power Plays via IBIT, MSTR, and WULF.
Congrats if you pushed the keys and participated.
Now it's time to trim, trail, and be thankful. It's not time to chase.
Some have asked me about Ethereum. It had a nice move back to $3900 on the weekly chart. If Bitcoin continues higher, this can at least see the historic high of $4867. But that's a "Big If." So I'm not rushing to give Ethereum the green light.
TSLA gave us a ton of great trades, pre- and post-election. This week it held the $348 area. We'll see if it has enough power to get and stay above $361 to open the door to the $384-$413 zone.
AMZN became a focus again as it cleared the $202 area as we put on multiple sets of options and stock. It hit $220 yesterday, and we took it off Power Plays just below that level. It could use a day or so off. We'll see if it can hold the $215.50 area to set up again.
GOOGL cleared a pocket pivot to see $172+ and reclaim most moving averages. It needs to hold $167-ish. Looks like it can work towards the $180 area.
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