Market Prep: Trade Ideas for the Weak Ahead

$PLTR $META $GS $JPM $AVGO

Hi traders,

Hope you had a lovely weekend. We will keep this short, since we already sent a detailed Bitcoin report and we’d like to give you some trade ideas into the next year and SPX levels.

Let’s begin!

SPX Levels

The SPX market experienced a choppy week, culminating in a breakout that immediately failed. The index is now sitting critically on the demand zone at 6,860, a level that must hold to maintain constructive price action.

The current horizontal price consolidation is actually a positive sign, allowing the recent significant move to be properly digested. Given our close proximity to all-time highs, this digestion phase is necessary for a potential strong breakout in the near future.

Resistance: 6,887 / 6,954

Support: 6,860/ 6,786 / 6,695

We have the Federal Open Market Committee (FOMC) meeting this week (December 9-10). Until the meeting, we are generally expecting choppy, range-bound conditions.

We are extremely close to setting new all-time highs, and the direction of the market from here will depend almost entirely on the tone and commentary from Chairman Powell. The market has already priced in a 25 basis point rate cut, meaning any hawkish surprise or deviation from dovish expectations could trigger volatility.

Trade Ideas for Upcoming Week

There’re some excellent looking charts. With good technicals and momentum.

Let’s look into some we’re looking at to trade: