There is a lot to pay attention to this week so be sure to take it all in and not get extended across too many trades.
We have CPI data on Tuesday and PPI data on Thursday and then the week closes out with quad witching, which is when index futures, index optins, stock options, and single stock futures all expire on the same day.
All of this means likely volatility and wider trading ranges throughout the week.
Over the weekend I dropped a couple of semiconductor trades, MRVL and MCHP, with both leaning towards the short side.
I thought it would be worth adding a couple of names I think could pop to the upside.
GOOGL actually is in a downtrend and if it rejects again at $138 we could see more downside to come. But a break above this level also gets shares above anchored volume weighted average price (AVWAP) which would be a bullish break.
Meanwhile energy is looking like it is ready to get going with another move higher.
SHEL sets up nicely with a clean level to break above as well as clear support that needs to hold.
Let’s get to the charts and trade ideas for a full week of trading ahead!
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