3 Trades to Watch for Next Week

So Nvidia is just sitting there mid chart, up near the highs, in no man's land, and there's nothing underneath it and nothing right above it either.

When a stock is parked near its highs going into earnings it's going to look for a breakout, that's just what they do, so I take a local low to high and that gives me $231 to $240 on the upside.

Fine. Anybody can draw that one.

The downside is where I do something you're probably not doing.

Pull up your volume profile, which is that sideways bar graph running down the right side of your chart telling you how much trading happened at every single price.

Everybody looks at the fat part. Where's the point of control, where has it spent all its time, where's the heaviest volume.

I'm looking for the opposite. I want to know where the volume isn't.

Because a skinny stretch in that profile means almost nobody traded in there, which means nobody built a position in there, which means there is nobody sitting in that range with a reason to defend it.

So price falls into that pocket and there's nothing to catch it. It doesn't grind, y'all. It drops.

On Nvidia that pocket is sitting around $202.

Two levels, both before the earnings release.

I know roughly where this goes if it's good. I know roughly where it lands if it's bad. And I know the bad one probably isn't stopping halfway down because there's nothing in there for it to stop on.

Here’s two more for you…

Microsoft has this pennant that faked out on the Fibonacci, it got rejected when it absolutely should have broken out, and if it retakes $497.93 there is a big move sitting right there.

Then Apple, which came up as a long on me and I found that a little random, but it's holding the point of control and it looks like it wants to fill that gap.

What I notice about Apple is that usually when the market goes down Apple goes up, and now all of a sudden they're trading the same, so that whole logic has shifted on me from last week to this week.

It's going to be a busy one next week so buckle up.

And if you need a trading companion, you can trade with me for the next 30 days at no cost. Offer is good until this link goes offline.

Rock On,

Voz