This Week's Stock Ideas!

Monday, November 18, 2024

Good morning everyone and congrats to all who caught the SHOP & SQ trades with us! Two absolute monsters! SHOP hit for 30%, and SQ hit for just shy of 19%. Easy money! We would also like to welcome everyone who joined over the weekend and remind you to comment or ask questions below.

Last week, we said we would not be surprised if we saw a slight pause or pullback as equity markets triggered our overbought alert. Well, that is precisely what we got. The S&P 500 pulled back almost 3% and came pretty close to our support level, within 50 basis points. This leads us to believe that markets could resume the trend this week, provided we hold that support. If support is broken, we will update everyone intra-week. Let’s see how things play out!

Check out this week’s trade ideas.

Last week’s sector performance