1:35pm (EST)
The Dow is up 55 points and started the week at 12,373. The index has traded to a high of 12,375 today and looks poised to trade up to 12,500-12,600 over the near-term after breaking our 12,350 target. Support is at 12,200 and then 12,000.
The S&P 500 was at 1,329 before Monday’s opening bell and has easily worked its way up to our 1,350 target. The index is higher by 3 points to 1,343 and has touched a high of 1,344 so we haven’t quite broken through, but if we do, look for 1,375-1,400 shortly. Support comes in at 1,325 and then 1,300.
The Nasdaq is showing a gain of 6 points to 2,837 and stood at 2,809 to begin the week. The index has traded up to 2,840 and has nearly kissed our 2,850 bottom target. If cleared, the index should continue to work its way towards our top-end near-term target of 3,000 by April.
Yesterday, we made our last special deal on our options trading manual and said if you signed up for a 1-year subscription to either of our newsletters, the Daily or the Weekly Wrap, we would include our options course, How to Trade Options on Momentum Stocks, at no coast (a $599 value, shipping included).
The course also comes with our Momentum Stocks Watch List which covers dozens of sectors and hundreds of stocks which moves these sectors. We also include monthly videos that cover the market, earnings, and possible option trades. Some of the videos also explain parts of our trading course and how we find trades. We also cover support and resistance for stocks or the market and we usually show you a few charts.
In any event it is an incredible deal and one you should consider. If you really want to learn how options work, find your own trades, and learn how to read the market then this is your calling. We doubt you will find a better option education elsewhere at this low of a rate.
We remain bullish on the market but with a 3-day weekend ahead we have to be careful of headline risk. Although geopolitical issues remain at the forefront, the bulls have brushed this issues aside but they still bear watching. Pun intended.
We seriously hope you take advantage of our special offer for this weekend only and we will be back Sunday/ Monday night with our next edition of the Weekly Wrap. Out next video for our option trading course will be out Monday. Until then, have a great weekend!
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