The time has finally arrived, the last trading week of 2020. For some, this has been their best year trading the markets and for others, it’s been their worst. Despite what side of the equation you fall on, a very significant chapter is about to end. Not only is 2020 coming to a close, but we’ve all just lived through what will mostly likely be the biggest life-changing event of our lives. Reset has been permanently pushed and a ‘new-new’ is unfolding.
We don’t know about you, but we’re very excited for what’s ahead. 2021 will be filled with an enormous amount of opportunities for those willing to put in the work to uncover them. If you’re one looking for the easy road; keep it moving, we have nothing in common.
This Weekly Trade Watch List will obviously be our last for 2020, but will also be the last Weekly Trade Watch List until Feb 2021. We will be taking the month of January off and enjoying some of life’s pleasures.
But before we wrap it up, let’s get into the final trading week of 2020.
First, last weeks session was a bit flat; to say the least. The boys brought $SPY down to that 363 level in Monday’s session and price bounced cleanly off the zone for a reversal. The remainder of the week was uneventful; despite Trumps public address regarding where a large portion of the Stimulus relief package was going. It’s beyond embarrassing that an emergency package from the states, includes funding for other countries. Any money leaving the states from an emergency fund has corruption written all over it; don’t be naïve and think otherwise.
This news however, didn’t do too much to market prices; which was interesting. Whether that ‘stability’ continues into this last trading week of 2020, remains to be seen.
You already know how we feel, we can careless which way the boys take prices – we trade the flow.
So, let’s get into it – Trade Smarter.
With that said, as always, keep it simple; if this, then that.
Remember, it’s chess, not checkers – be patient and trade only clean charts with crystal-clean A+ set-ups.
***This is our Sunday scan for the week, if/when a pre-determined entry level is reached, we’ll put on risk; otherwise, we patiently wait.
We’ll be looking at the following securities throughout this week’s session in these sectors: Consumer Discretionary, Health Care, Industrials, Technology
$FDX, $MIC, $NNOX, $NVAX, $OSTK, $RUN, $SNAP
Keep an eye out for our daily Trade Ideas throughout the week, where we share the stocks we’re looking at for the day’s session.
Members will be getting a video breakdown of our entries and exits in securities on both the Watch List and additional daily Trade Ideas.
As always, remain patient; all you need is one. Manage your risk properly and cut your losses quickly.
If you would like to know more about how we trade the market here at The Street Trading, reach out to us and we’ll get you started.