Traders I'm looking very forward to sharing my thoughts and top ideas with you for the upcoming week right before I do so um here's a brief quick note so as of outling great detail in my previous couple of inside access meetings um which is of course the only place I review my trades thoroughly each week I wanted to see the market and critical sectors consolidate for a swing environment to become favorable once again now such price action would improve the risk reward and together with a you know High and base being developed across the market
in several sectors it would reset specific charts and setups enabling consolidation breakouts and directional swing opportunities to become favorable and and more appealing um so that is now the focus for the upcoming week so starting with my large cap swing ideas all of which um are quite a similar setup first being a consolidation breakout in biotech specifically looking at xbi and IBB let's take a look at xbi so you know what is the idea here after V bottoming post the uh Panic early August and displaying some relative strength um to the overall Market um you
know xbi IBB biotex they've now spent um considerable time going sideways near 52- we highs setting up a more favorable risk reward scenario for a consolidation breakout um with clear resistance near the 102 Mark um so specifically the setup what I like about it too is that it shines through across multiple time frames so what is the plan for xbi so I'm looking for a breakout in both volume and price you can see volume has died down significantly and it's consolidating as well as price so I'm looking for a breakout in both price and volume
above 102 resistance across multiple time frames um and if the stock breaks above 102 importantly I want to see it spend some time above 102 um if that is the case then I will look to initiate long against the day low thereafter I'm going to look to piece out of the position towards a 1 ATR up move from entry as well as into that 52 we High Zone after that I'm going to be trailing my stop as per usual with momentum directional breakouts 5 minute time frame higher lows trailing my stop and looking to get
out on significant higher highs and extensions um and holding a piece until I'm stopped out or until we get a significant extension across multiple days the next idea very similar um in terms of technical analysis is a consolidation breakout in technology whether you're looking at Q's whether you're looking at SMH for semis or S soxl um the setup shines through RAR across multiple names but just for the purpose of examples let's focus on cues for this um so really some relative weakness in Tech and semis compared to other sectors some even more defensive sectors um
but I think going forward we might see some rotation into this area um and if that's the case then go to names would be Tech would be semis and some individual names within those sectors that have displayed relative strength but for an purpose of examples let's just focus on Q's for now um as a really nice rroll pattern has now developed um across the board with a clear breakout area in both cues individual names s soxl SMH for example uh in this sort of bullish flag that has developed so for the plan for qes similar
to semis and individual names I'm looking for a break above Friday's High importantly above Friday's high if we can break above Friday's high and hold inaday on sustained volume confirming that buyers are now firmly in control and that they've stepped higher after that I might look to get long if the market internals remain favorable specifically for tech stocks for Nasdaq uh with a stop at the low of days similar very similar to my exit strategy for biotech um and some additional sectors areas of Interest as well with a similar setup and nice flow back into
those sectors um I like xhb home builders uh Within xhb you can look at some individual names phm for example um and small caps are looking good again iwm TNA as well um so now let's move over to small caps some Pops to short in small caps bnrg being the first name that we'll look at uh for this let's go more to an intraday set so B&G it was a fantastic momentum mover on Friday um obviously on exceptional volume had a quick push through twos squeeze out failed and there after a nice retracement and weak
close uh so with that being the price action on Friday a lot of resistance and overhead now exists so for me the plan is to really set alerts I won't be actively watching this at all um but I'll have some alerts set in case this pushes back towards this 2-day V up near 180s uh and ideally a push back towards two 180 squeeze to two fail if we get a fail I'll then be short versus the high of that move or the high of day likely the same thing um and looking for an intraday short
targeting move back down to 150 uh low ones uh and then very similar to that FC UV fcv so similar to bnrg um significant retracement off of the high uh consecutive lower highs broke support and a very very nice fade down into the close in terms of percentage uh of the move um so therefore similar to bnrg setting alerts for a pop back towards its 2day vwap mid 30s ideally high 30s pop and fail failed follow through um if the stock of course same with bnrg if we pop to vwap and we start to consolidate
over its multi-day vwap I'm not going to be shorting the stock um but if we pop and fail um and break through vwap yet again um I'm short versus the high day and I'm looking for retracement back down towards the lows from after hours on Friday in order to get out so those are my top ideas for the week of course within biotex within uh Tech and small caps um you want to identify relative strength within those sectors and charts that display the most favorable risk reward um setups within that theme um so that could
be a good exercise if you're new to try and identify those names which would make the list um other than that let me know what other stocks you have on your watch list um or if you're watching the same stocks that I with different plans different entry different exit plans would love to hear from you good luck for the week I hope you have a fantastic shortened week here and I'll see you all next week so you're an active Trader not doing as well as you want not doing as well as you deserve and you
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