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hello everyone and welcome to the third week of November this month is flying by and it has been rocking and I want to know what you guys think of the additional videos that I've been putting out there I really wanted to have more of the interaction instead of me just speaking technically about charts and just the weekly watch list I really feel like I helped to give back to the community more that way and I want to get your feedback as well and speaking about community let me go ahead and shrink this really quickly I was nominated for an award locally and if you guys could please vote for me that would be awesome I would love the support so you just go to the page I will put it down below too but it's business community 360 CA and you are just going to scroll down and go to the nominees if you're on a phone just keep scrolling down and you're gonna see this come up and you want to click on financial services and then vote for me right there please just like that super easy part of it part of the criteria in winning is going to be engagement with society and giving back to your followers so you know everything I do is to really help you guys so I'd love it if you could give me that back just a little vote two seconds of your time and if you like my content please like and subscribe and turn on the notifications right because that's gonna be when you get the new videos so let's go ahead and get into it right as always you guys know I did have my series 7 back in 2000 I was working with Smith Barney however I am no longer current as a broker but I did go through all the studies so please remember number one trading involves all sorts of varying degrees of risk no matter what securities instrument you are trading and know that no returns are guaranteed that if you do try a new strategy it is best to pay portray that strategy until you get that winning strategy down and also know that any past performance is not indicative of future performance all right so a little disclaimer the way let's go ahead and look at the indexes right they always start off with a spy so we are just rocking up following the averages right on up the hill if we look at it it looks like we might hit this resistance line 318 that's a pretty big move coming up right back here at 303 and now we're all the way up at 311 we had this consolidation over the week actually it could even extend it out to here so we had one two three four five six days of consolidation this little box and now we are up above it so that's pretty telling right if there was the volume was not really higher or lower but we did have higher volume with a breakout there so looking for this to potentially move on up to 318 319 before we start to see that pullback let's go look at Nasdaq so Nasdaq we are butting up against this trendline that when you have Kate before this is now the fourth time we had a little bit higher than normal volume we close up at the top so I'm curious to see if we are going to continue on up or is this going to be higher volume with a potential sell-off here we'll see what the market has for us but we are on that bigger picture on a trendline let's look at the weekly and see as well so on the weekly we are above this trendline but I drew it you can see I drew it I think on the daily let's go back to the daily I think I drew it on the daily I should put notes on the trend lines as to what I'm drawing it on so I drew it on the daily I believe yeah right there the high of this candle and to the low of that candle it actually shouldn't be down here and down here so disregard that one because it looks like that one is not even going to it's interesting though the way that it was oh look at this keeps changing interesting okay so right now now that we are breaking out let's do this one - right here - right here and we can see we're tested it tested it and consolidated right here again this past week the volume is increasing and price is increasing that's what you want to see when a stock is going up because you want to see that demand is increasing as well as the price to justify the move when you're going to have an increase in price like this and a decrease in volume that's going against supply and demand there's some reason some manipulation that is driving that price up so let's look at the Russell right okay so the Russell we are come to an area that we've tested once twice three times four times now and we haven't broken above the high back here on May 19th so we shall see if we're going to have we had this downward trend a bit of a descending triangle here with breakout but it was not really higher than normal volume we are not in the overbought area for RSI I don't really use that as an indication to get in or out just looking for reasons not to get into a trade for the indicators so this one we still have all the selling volume every time that it's come up and hit these highs selling wicks so looking to see if we're able to have a nice strong buy wick right right here we had buying power that drove it up but really would think breakout above this wick here one sixty fifty because if we can break up above that yes we've got potential move to the upside first on my potential long list I always say potential logs or potential shorts because the market can really take it either way but I will give you the levels to look at so looking at the end of the day I would look at 162 72 and you can see there was this big gap on earnings so we could have that potential gap fill up to 166 75 area or break down of 161 16 now aap does have 71 million in the float and 55 percent short volume from Friday and looking back at it on the year you can see we are hitting this 21 EMA the four has not crossed over the eight yet however we did bounce off these moving averages so just keep that one iWatch next potential long is a mat a mat did have earnings as well you can see here a nice gap up let's look at on the 15-minute chart so on Friday end of the day then we had a massive run-up right and it closed up alright sorry it had a nice spike at 10:45 pulled back up it found support right here around 60 180 and I would look for 60 to 50 area to be broken to the upside and a mat does have 920 million in the float so you got to think that long freight train if you have that all of that volume behind it moving pretty quickly it's gonna take a longer time and be harder to stop that momentum 33% short volume on Friday next potential long looking coffee so Lucan has been assimilated to Starbucks but in China so had earnings on 13th and then boom ran up on the 15th right ran up from 22 to 27 nice $5 move or about 20% of the stock so let's see 26:13 for the support and 27 15:27 20 area for resistance to the upside and Lucan is lower float not real low flow but it has 30 6.8 million in the float and 43 percent short volume on Friday next to potential Long's are in the entertainment area broadcasting CBS Corporation CBS this is on the 15 minute chart I forgot to show you that where we are and lookin on the year so here's our yearly chart we are testing the 52-week eyes so that's very important this could be a big break out here and we had massive volume as well on Friday so let's go to CBS so CBS has had this downward trend right and we're about we're butting up against this 50 simple moving average we have had increasing volume after earnings and I would look you know for longer-term swing a breakout above 39 10 or above 30 907 the 50 simple moving average daily sort of an intraday trade I would look for resistance of 3880 to be broken and support of 3850 right here and CBS did have 60% short volume on Friday which is pretty interesting so if we start to see that that gets a squeeze to it going on early pre-market before we open we might have more of a run-up right it open it does have 327 million in the flow and the next potential long as well is VI AV by comm now if you look at the chart for Viacom as well very similar to CBS right came up almost at the 50 here and almost hitting the 50 again on Friday and it just had earnings so looking at these two charts I feel like they're trading symbiotically so if one of them is going to move potentially the other one will move as well sort of in that same entertainment broadcasting sector so 352 million for Viacom and it was 72% short volume on Friday so I think these people are trying I always try to put myself in the head of other traders right so those two had higher than normal short volume so I'm thinking there they are thinking that that 50 simple moving average is that resistance they're going to give that their stop so if it breaks above that that could be a big rip for the two stocks so 23 for support for buy calm and 23 22 for resistance now getting into our shorts potential shorts for the week Nvidia so Nvidia had earnings and then it broke down I would look for support up 20 excuse me - OH - 38 to be broken - OH - 40 and resistance of 204 46 when we look back on the yearly chart here let's go back and forget automated these are old right here so let's remove that and let's remove that I took away one of the wrong ones the cool thing about trading view you can just click this and put back whatever you did by mistake very easy to replace what you did by if you okay so you can see Nvidia right here touched on this on Thursday as well someone asked me a question live which I'm going to be doing again this Wednesday so check it out at 1:30 on Wednesday I'll help you live on YouTube answering other traders questions as well so here we've got this consolidation box right so we had one two three four five six seven eight nine days of consolidation within this box and the volume was neither really large or really small except for right before earnings and then now we've got the four crossing over the eight and we have broken below this support level of 206 43 as I was saying I said a food break below 206 43 it's going to be a pretty good short well look at what happened we broke below 206 43 in the first half an hour of the day and what happened came down and then tested that as a resistance level and sold off again so if we were if potentially you were thinking about going short in my opinion I would say use that 2650 area as a resistance because that has acted as a fairly strong support in the past and so it will probably flip to be resistance and if it goes up higher so that's it for NVIDIA for me CAE this one is a local one here in Canada they do simulator training for pilots and it's interesting they had a massive run-up however it's coming and it's potentially testing this gap-fill back down so 27:45 to the upside and 2684 support it does have 265 million you can see we've tested this once twice three times four times five times but it hasn't broken up above so that's why I do have an area look for this potential move down you know maybe back down to 25 93 before a bigger run-up it would probably be more of a move down to the averages and then potentially back up but I I'm it looks like it can't break this distance of 2750 next potential short is CN peace center point energy cut earnings a massive sell-off came down and it might have a potential move up but i would look for support of twenty five twenty to be broken or resistance of 2553 to the upside but it did have a consolidation data right here so this could have a bigger move coming because it was fairly consolidated throughout the day on friday didn't have a big range so anytime I see a consolidation day like this I think there's going to be a move coming one direction or the other they're holding it there to make a position and when I say they I'm talking about the larger traders the institutional traders or hedge funds that are saying hold on hold it in this range because I want to get my position set up before we take it into a major move alright next potential short ARVN and CNP has 300 million in the float ARVN is a pharmaceutical and this has the potential to me of being overextended and having a bit of a sell-off like CAE as well so 3066 resistance to the upside and 3003 for support or the 30 range if you look at it it did break out and we had higher than normal volume here a bit of a cèlle a bit more volume but not as much it's looking like it's overbought to me and the momentum is somewhat coming back down so it might have a bit of a pull back down to the 29 area before it rips up again because stops don't always go straight up right they come down they go up they come down they go up just like this one went down and it came up and then down and then it came up and then down you see that same thing going up up and then back and then up and then back so this might have a bit of a pullback coming for it huge in q10 is the final one a rvn be cautious that is a lower float with sixteen point two million huge n is 215 million in the float and look at this this has had a massive run-up in three days so it went from thirty to twenty to forty one a nine dollar move massive volumes starting to show overbought and momentum is decreasing just a little bit so potential it's also testing a resistance area for the third time so potential move back down here to the 3637 area as well looks a little bit overbought to me so watching for a potential pull back on this one in the week for potential short but not a longer-term swing in my opinion then I have one a longer term potential swing and that's ebooks this week right so let's remove all these other chimes so II Bix has come down and it seems like we've got higher than normal volume after earnings right it came down to this area thirty-two area thirty to twenty five and we have higher than normal volume so looking for this to break up above thirty six seventy eight that would be a nice 2.25 cent move from where it closed on Friday if it can break up above there then it's got that nice gap fill up to thirty eight forty and then potentially up to forty one and then it's going to have the averages along the way as road blocks but this might have a potential move to it you couldn't see it came down and it's tested that low broke below it however they might they did take it right back up so we shall see the higher the normal volume caught my eye and it's looking a bit oversold as well no but I'm not going to use that as the only indicator to get in I would watch the price action as well alright guys if you like my content please like and subscribe if you have any ideas for any other videos that you'd like to see about trading please shoot them on over and if you have any questions you'd like me to answer in my live question and answer on Wednesday at 1:30 put them in the comments below or shoot me an email at Jane at CJ trade calm thanks so much Capri pocket have a great weekend
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