Stock Market Lines Up for Weekly Breakout – Critical Day 4-14-20

Monday's stock market selling didn't feel right. It was too "weak."

Zero stocks closing at new 20 day lows that fit my criteria. The weekly price action consolidated which means the bullish tone remains valid.

Stock futures are higher this morning and the game plan calls for buying stocks today. 

We perform tape reading on two casino stocks and determine if they are in a buy zone.

Trading Lesson: We dive deep into my favorite chart patterns, well-bid and well- offered and how they set up my best trades. 

We also recommend a book about the New York Stock Exchange, King of the Club by Charles Gasparino.

NFLX exploded through key $385 resistance yesterday.

We've been waiting for this one for weeks! (Resistance goes back to July of 2018)

I'm looking for one more day of buying that sets up the next swing trade. 

Key financial stocks have earnings today (JPM, WFC) so we'll know if least Friday';s breakout has legs.

Yesterday's bearish price action ruined a good idea (still may be valid)

Also ROKU had some positive news about 49% increase in streaming hours in Q1.

Two stocks I failed to mention in the most recent episode of Best Stock Picks were AMD and NEM.

One has more profit potential and the other has hit a selling point after 8 days of buying.

Have a great day!
Pete

PS. Be Safe!