This Week's Stock Ideas

Monday, October 30, 2023

Good morning, everyone, and welcome to all those who joined over the weekend.

We have been saying for weeks now that market conditions are subpar and expressing caution in taking new swing trades. Last week, the S&P 500 broke a major support level at 4200 and continued pushing lower as traders sold into the panic. Support is now at 4100, and the S&P sits just above that. We could see a bounce here, but we need to stay nimble, as a break below 4100 could take us even lower.

Here are our top trades for the week and the levels that we are watching.