 Hey guys, this is Hyder from xTrade back with another weekly video and in this week We're gonna take a look at the best opportunities for February for 2024 So as usual, we'll start off with the indices take a look at SPY and QQQ And IWM as well. So SPY really strong Weekly chart here, right? This was the cup This was the handle and then another little handle here and then very strong breakout for green weeks in a row now Trying to get a little bit extended, but we can continue we can definitely continue going higher here So I think a very good chance. We'll see that 500 mark hit and then potentially pull back But overall really really strong action and that's it s&p Next up, we'll take a look at QQQ QQQ same deal really really strong Weekly chart very strong breakout yours consolidating right below like the right at the all-time high mark And then it made a very strong push up and then this week Yeah, this week we did end up pulling back in pretty hard on Wednesday But we did recover very nicely into the end of the week. So overall a very bullish action and When we got supported on Thursday and Friday, that's a very clear sign Very clear sign that bulls are in control of the market. So definitely don't be trying to fight the market right now This is the best time to be long. Don't try to short this market and until the trend changes continue playing the long side and I would say until that this trend line breaks continue playing the long side Yeah, that's pretty much it for the indices also take it look at Russell 2000 so this is IWM I do IWM is still very very choppy And until we clear that one 99 level We're gonna continue to be in this range, right? So once we clear that one then 99 level There's a very good chance that the breadth of the overall market will improve And there's a very good chance that small cap stocks will also have a very nice rally So once this breaks, then I think we'll have a lot more opportunities than just the big cap tech stocks and Yeah, now a lot of the growth stocks like ARKK these types of names can start breaking out and speaking of ARKK this one's still stuck in its range and in its base here And until that changes then growth stocks are still not the best Best ones to trade to the long side, but it we are starting to tighten up here Possibly a couple more days of tightening up and then we can see a breakout Then that would be ideal. But yeah for now ARKK is not the best option to trade the best opportunity these are still in the big cap tech stocks like QQQ or like Apple Microsoft Nvidia, Meadow, Tesla Tesla is actually really weak right now, but we'll get into that later But yeah, the opportunities the opportunities right now are in the big liquid tech names So, you know, let's take a look at the some of those names start off with Apple Apple had a really weak earnings report, but it got deported Really nicely here on Friday. So yeah, if we can take out the 187 level then this looks really good for a break out So yeah, that's the key level to watch there for Apple Next up, let's take a look at AMD AMD had a very very nice rally and then it got pulled back in on earning or yeah from earnings on Wednesday and then Thursday formed a nice consolidation bar and then on Friday it broke out So this one still looks really really good and on the weekly chart. Yeah, it looks really good And yeah, this one still has a lot more potential I would not be surprised to see AMD double in a year from now, right? So lots of potential for these semiconductor names and AMD still Relatively a smaller cap compared to like and video or broad come so still a lot of potential for this name Next up, let's take a look at Google So Google also had a gap down on earnings, but it gets aborted really nice hammer candle on Friday So now it's back in this range So if we take out 144 then I'll be bullish on Google and if we lose 139 then I'll be very strong Google So as simple as that take this out Then you want to be looking to play the long side take this down And then you want to be looking on the short side or until then we can just chop around for quite some time Next up meta meta had an insanely strong earnings report on Friday and that weekly chart looks really really good Yeah, I think meta is Going to consult there since it made such a big move It reminds me of Nvidia back when it had when it had its earnings report. So this candle right here. So and we it did end up Going a little bit higher and then it formed this little base for quite some time So I think matter is gonna do the same thing I think it's gonna continue going higher, but then eventually it's gonna form a little or a relatively long base and then once it does that then it has a chance to break out again like And media did so I think matter is gonna follow the same thing So I think potentially grind up a little bit higher hit that 500 level and then form a base and then Wait a couple months, and then it can break out again Microsoft had a Really nice follow through week. This was the strong breakout and then since the breakouts just been grinding higher and higher So yeah, Microsoft not much to say. It's just yeah grinding higher and higher Really bullish action and yeah, not much else to say from Microsoft Netflix is starting to tighten up really nice here. So Netflix had also had a really good earning speed And they had a couple nice updates in a row and now it's starting to flag here So really really nice flags up here on Netflix. This is a top watch for next week And media and media had a nice flag forming here and then on Friday broke out really strong action and really strong clothes and Yeah, overall, I think we can see that 700 level soon But it is it is starting to get a little bit extended here since hasn't really pulled back at all Right. So but this is what the true market leaders look like. They don't give you a lot of opportunities or defies When you see a real rally, this is what it looks like. So take notes Next up, we'll take a look at Tesla So Tesla has been really weak Tesla had so many catalysts like Cybertruck release and all these big cap tech earnings or big cap tech stocks have been beating on earnings But Tesla hasn't been getting any momentum off it at all But right now Tesla, it's very clear if it breaks that 193 then you could play along You could try to go along for that gap though And if it loses that 181 then you can try shorting it for move all the way down to 154 So that's how I would play that stuff right now. It's not actionable But yeah, if it breaks that 193 then I'll be looking to play the long side, but yeah Now let's take a look at some individual names that look good for next week App looks really good App looks really good because it's been consolidating for the space in the space for a really long time And it's just now starting to break out So this one can definitely be a top watch and this one reminds me of Nvidia before it broke out, right? And video formed a really nice base here kind up and then it broke out and after starting to do the same thing It still needs more tightening here But yeah app is already breaking up, but ideally it ends up a little bit more before it actually breaks out Yeah Coin is another one that looks really nice for next week coin is tightening up really nice here So yeah, this is providing a really good risk-reward opportunity if it breaks out and it's a bull flag That's been formed Mara also looks relatively good It's also forming a bull flag over here, and if it takes it out that could be a good setup as well Yeah next up data dog Data dog is one of the leaders in the cloud team So data dog had a very strong earnings report formed a really nice flag opportunity here This was with a plus setup and then broke out and then yeah It's been I had a really nice rally and then a pullback in here Then formed a nice bull flag and then another cap up on Friday and a decent close I think this one looks like it wants to go higher looks pretty good on the weekly chart Yeah, I wouldn't be surprised to see this all the way back up to like 147 ish, but It does have earnings on the 13th. So do watch out for that Next up draft Kings draft Kings is also acting really well took out that 39 resistance level took out the 40 psychological level And it's just grinding higher and higher here. So it looks really good Yeah, had a nice box right there and then broke out Lastly this one is starting to set up again. It kind of died down back last year in that pullback After that rally after that Yeah, June-July rally it pretty much died and then here's just chopping around and then Just recently again, it's starting it's starting to act well again. So had a nice gap up Consolidated and then very nice breakout on Friday. So I'm gonna see some inside days Some yeah sideways action and then if it forms a flag then I would be looking to buy this one Get love this one looks really good here very clear pivot level if this breaks this pivot and I'll buy please stop around that 70.7 level and Yeah, that's pretty much all there is to say for good luck. It's acting really well. Nice weekly chart Really nice accumulation volume signs, right? So everything looks really good for you up there Also take a look at Shopify Shopify's consolidating under the 83 levels for quite some time now. So I Could put could potentially be ready to break here. Maybe some more consolidation, but overall Shopify does look pretty good here Yeah SMCI this one is the true market leader very strong rally Yeah formed a little flag here and then broke out not the best flag was really extended but yeah, I just kept going hit that 600 level on Friday and Yeah, now I think it needs to pull back here You're just consolidate go sideways and then form a high tight flag and then this one can make another like up This one Stephanie a top watch Snowflake this one had a really nice breakout on Friday It took it took out that 210 level which was a very key resistance level here It rejected multiple times here and then on Friday. I finally took that out. So it was viable on That 210 level and on the weekly it looks really really good breaking out of this huge base so yeah overall lots of opportunities for next week and Yeah, that's it for my side. That's all I got on my list for next week But yeah, there will be lots of opportunities. So make sure to capitalize on these Ames I think the top top theme is that semiconductors like Nvidia AMD SMCI and then also the cloud names like snowflake data dog pride strike Service now, those are the best opportunities right now Yeah, that's all I got for this week. Thank you guys for tuning in and yeah, good luck with your trading next week There's a reason why xTrades is currently the fastest growing application on the market for sharing financial ideas with over $2.5 million paid in the last two years to contributors users are Blocking to see what trades the top traders on the leaderboard are sharing in real time If you're looking to grow your reputation as a trader on the internet or discuss your trading ideas with other reputable investors Click the link below and get connected with the trading mentor today completely free of charge