Market Insights: Shorting $SPX, Bullish $NQ, and Tech Strength
Key Points:
- Considering shorting below $SPX 4340 after significant rejection
- Above $NQ 15380 appears bullish, while below $NQ 15220 is bearish
- Strong market performers are mainly in tech, particularly $AAPL
- Staying cautious on Friday to secure weekly gains
Expert Opinion: Brett Blackman
Shorting $SPX
Brett Blackman, a Kansas City-based trader, shares his thoughts on shorting below $SPX 4340: “After the big rejection yesterday, it’s a reasonable strategy to consider shorting below this level. However, it’s essential to keep an eye on the market and adjust your approach if necessary.”
Bullish and Bearish $NQ
Regarding the $NQ, Blackman states, “Above $NQ 15380 looks bullish, and below yesterday’s low of $NQ 15220 is bearish. It’s crucial to monitor these levels and make informed decisions based on market movements.”
Tech Stocks: $AAPL
When discussing strong market performers, Blackman highlights tech stocks, particularly $AAPL: “Tech stocks seem to be showing strength against the overall market, with $AAPL standing out as a prime example. Investors should keep an eye on this sector for potential opportunities.”
Friday Trading Strategy
Blackman also advises caution on Fridays, saying, “Staying light today since it’s Friday and just going to secure most of my gains from the week. It’s always a good idea to be cautious at the end of the week and protect your profits.”
Hot Take
In summary, the market presents various opportunities for traders, with shorting $SPX below 4340, bullish $NQ above 15380, and bearish $NQ below 15220. Tech stocks, especially $AAPL, are showing strength against the overall market. However, it’s essential to stay cautious on Fridays to secure weekly gains. As Brett Blackman suggests, keeping an eye on market movements and adjusting strategies accordingly is crucial for successful trading.
Orginal article: Link To Article – provided by Kansas City Realtors