HomeMarket NewsMarket commentary and trade ideas for week starting on 11/13/23-

Market commentary and trade ideas for week starting on 11/13/23-

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Will add market commentary on Mondays Close, not much to say just some updates on last weeks charts and ideas.

โ€“ J.B.

$QQQ Weekend update.

Huge breakout today through previous resistance, quickly moving up to next area of interest from $379.30-$380.85. But price had already broken the diagonal trend earlier this week. Yesterday was an S/R flip of the trend it broke out from. For now, strong move up off the volume shelf that was initial supply last week. Bulls clearly in control into weekโ€™s end. If we close above the $380.85 horizontal resistance on the daily, next upside target is the previous highs from $384.75ish.

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$TSLA Weekend update.

Perfect gap fill this morning with a strong ย reversal after. The inverse H&S mentioned yesterday playing out ย well, with earnings gap down VWAP as potential resistance up to $217. A ย daily close back above VWAP re-initiates upside target of the gap bottom ย at $230.61. Weekly candle still holding January โ€™23 reversal VWAP which ย keeps longer-term bull thesis intact. A weekly close below the bottom ย of the VWAP zone, currently at $197.50, would turn the status quo more ย bearish.

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$NVDA Weekend update.

Another melt-up invalidating yesterdayโ€™s idea. ย Breaking out on the daily above horizontal resistance and weekly above ย diagonal trend. Previous resistance now potential support on any ย pullback, with bottom at $469.60. Showing impressive strength into ย mid-November like many others. Main upside to watch is previous highs ย from $449.25-$502.65.

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