TRADE PLAN for Oct 20th 📈
Gap down today after a gap up into Monday...
$Invesco QQQ(QQQ)$ is already down from 724 to 712.. if 707 breaks.. 700 can come fast.. There's still lots of weakness in Chip and memory stocks..
$Micron Technology(MU)$ down 24, $SanDisk Corp.(SNDK)$ down 43 premarket, AMD down 11... If these 3 continue to show relative weakness, the market will continue to struggle. $SPX to 7620 in play as well, if 7620 fails before FOMC we can see 7500 next.
$Meta Platforms, Inc.(META)$ earnings are coming up tomorrow after hours. We can see another sell off in tech if there's a negative reaction. The buy zone for $Invesco QQQ(QQQ)$ is near 685-693 and for $SPX it will be under 7500. Be patient and wait for the price action to look better. We're not there yet.
Good luck today everyone!! 🫡
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