 Hey guys, this is Hider from Xtrace and in this video I'm gonna be going over potential scenarios or potential outcomes that we could see Happening in February for the stock market, right? So to start off. I'm just gonna be going over the indexes I'm gonna be going over the S&P 500 first and we'll go over the NASDAQ 100 as well So big picture Yeah, so just taking a look at the big picture 2020 was the start of a monster bull run, right? we made a yet made an enormous run and And Here's the weekly chart, right? Insane run from 2020 and starting 2022 We fell into a bear market, right? And we've been in this bear market for over a year now and we just recently started breaking it, right? So one thing's very clear We had a very strong Resistance bar here, right? Resistance downtrend line and every single time we touch this trend line, we reject it, right? Here's the we would start it out in 2022 rejected here rejected here rejected here and just recently in 2023 For the first time ever we were finally able to break this downtrend resistance level and that's a very That's a very key thing right for a bulls and this is the first positive that we've seen in forever, right? For almost an entire year, so that's very important for bulls But now the question is is this the start of a new uptrend or is this just the or Is this potentially just the Stop to the downtrend right mean that we can just chop for the next couple months to a year, right? So are we gonna chop around or are we going to actually start a new uptrend? That's the million dollar question, right and So far So far bulls have been holding this uptrend pretty well the last two weeks were very very bullish a lot of positives, right on Wednesday we rallied on Yeah on the FOMC event, which was good But now yeah, we have to check is this an actual uptrend that can be sustainable or is this just Touch the resistance bar and then come back all the way down and and then just continue to chop Around like we've been doing for quite some time now, right? So yeah, that's where we're at right now Yeah, like I said last two weeks were very bullish But we want to see if we can take out this key level, right? if we can take this out and then actually hold there's a very good chance that a new uptrend is forming and Yeah, that's pretty much what we want to see so for the NASDAQ 100 Pretty much the same thing right very strong uptrend 2020 2022 we start a Bear market right very nasty drawdown for the tech stocks, right? Yeah, every time we touch the trend line very clear rejection and then again for the first time in 2023 here for the first time in like over a year in 2023 we break this downtrend and Yeah, we make a very very powerful rally the last yeah last five weeks for all green, right? So yeah, again the key level for the NASDAQ is this 1276 or 12761 level So yes pretty similar to SPX, right? We want to see if we can actually take this level out If we can then there's a good chance that a new uptrend is starting If not, there's a good chance that we could just be talking around for the next year or so, right? So that's what we want to see All right now both the SPX and NDX are both extended short term, right? They had a very nice rally very Very steep rally right how much pullbacks so in the next time we do pullback We could be around this 12 400 range around this Yeah around this area, but if we break this short term uptrend then there's a good chance that we can Yeah fall back to like You could potentially even fall back to this level, but I don't think that's too likely I think it's there's there's a greater chance that we'll just chop around But yeah, this is the short term uptrend and we want to see this level hold or this trend line hold If not, that's not great sign for both So that's pretty much it SPX is also kind of extended you want to see a pullback to this trend line And if that happens that could be a buy the dip play Same thing for NDX you want to see a pullback to this trend line if that happens that can be a buy the dip play But if we break this trend line, then there's a good chance that bears are still in control or Best case scenario. This is just the chop market, right? We just chop around in this range in this box So yeah, that's pretty much my outlook on the indexes And now we'll go into a few individual tickers. So we'll go through the most popular The most requested tickers and that's pretty much thing surprisingly. So yeah So first we'll go off with Amazon So Amazon had a really nice gap up on Thursday and then on Friday pulled back in pretty pretty hard, right? So there's 101.65 level could be a good level to buy the dip and that's something that the bull should be watching for so Yeah, this could be a good buy the dip level Father that not too much to say for Amazon It was extended a lot on Thursday now It's finally pulling back so it can be a good level to buy off here And we also have the short term up trend trend line here the short term trend line Forming at this level as well. So that could be a good place to buy the dip But yeah, also Amazon definitely clearly breaking the downtrend and We're definitely in a very clear uptrend right now. And yeah, so far it looks pretty good We just want to make sure that this trend line can hold Next up, we'll take a look at Google So Google same thing very clearly broke the downtrend and now has been forming an uptrend for a while now a Very good or a very strong gap up on Thursday and it actually held up a lot better than Amazon did Even though we got down, we were able to closer a closer on the one of five area and this is a very Yeah, key resistance level. It's one of five multiple touches on this level, right? So if we're if we can break this 108 level There's a good chance that we can power higher and reach this 120 level. So Google looks a lot stronger And I think if we can take out these highs On Thursday or Friday's size, then there's a good chance that we could rally all the way up to 120 But this is also a bit short term extended and some consolidation and catching up to this trend line would be good and then break out All right, next up we have Meadow and Meadow has been holding up really really well as well stronger than Google actually a gap down But also was able to hold its earnings higher earning earning day lows or any enter the power in All right next up is a matter and this dog has also been holding up really really well stronger than Google actually Yeah, even though that down was able to hold the gap up days lows. So if that's a That's definitely a good sign And if matter can take out this 196 197 level, there's a good chance that we can rally higher Yeah, this is a very clear, right? So we bottomed all the way in October and now we're taking out this key resistance level and Yeah, next level that we can see is to 27 ish so yeah matter can take out this 196 197 level and continue to power higher. There's a good chance that we're gonna hit that 227 Right now. It's definitely short term extended, right? This is yeah, this is way way extended There's it would be good to just consolidate for a few days And yeah, just make sure that we can hold the 181.67 level and if we can do that there's a good chance that we can like build some sort of flag and then break out and then They get to this 227 level. But yeah matter looks really good right now Next up Microsoft Microsoft doing okay Not as good as micro or matter or Google but definitely doing fine, right? So here's the short-term uptrend level and Yeah, it's resistance level is 269. So there's a good chance that it can get there right now It's not too extended but I'll pull back to the trend line here and then bounce again It'd be a good play here for the both if you if you could buy off the trend line That could be a good buy the dip play but right now matter is doing fine Not too extended and there's a good chance that we can see 269 before you pull back to this trend line But yeah matter looks pretty or I mean Microsoft looks Yeah, pretty okay here and then finally we'll take a look at Tesla and then we'll do Netflix and then we'll do some other smaller cap games So for Tesla, um, you know Tesla's definitely It's made a very powerful move off the load right now. It's getting a little bit short term extended We have some resistance at this 218 level and then also some resistance at this to yeah around 200 level So right now Yeah, Tesla's definitely a bit extended and it's getting rejected at this one 99 level Ideally you want to see a pullback maybe pullback to this one seventy seven point five level that could be a good buy Just give it some rest and then likely makes it another like up higher, right? So we just want to yeah Tesla's acting very well while you're just looking really good Everything's looking really good on Tesla. It just needs some time to catch up I mean some time to yeah, just consolidate pull back a little bit Just let the market rest cool down for a while and then let bolts reload and then make another like up higher But right now Tesla looks pretty good and then Netflix So now folks is getting Extended here for sure. Right. This is the upper trend line Every time we touch it we reject reject here reject here Reject here try to break out rejected try to break out and we got a week close on Friday So right now we're still below There's a good chance that Netflix can come back to this lower trend line and that's if it does That's the place that you want to be looking to buy Yeah, right now and Netflix is definitely extended So you shouldn't be looking to buy here But if it comes back to this lower trend line that definitely be a very good by the dead play And now we'll just move on to some individual names, right? So we'll take a look at ARKK So yeah, these names have been rallying really really well off the lows, right very strong couple weeks and Really nice volume, right? That's been yeah, it's been moving up on decent volume and Yeah, these names have been providing tons of opportunities in the markets for the last couple of days And that's where you want to be Putting your attention because these are these stocks can make really really big moves So we'll take a look at AI, right? This dog was insane last week So look at the weekly volume right look at how much what trader almost 200 million volume last week And look at like the previous volume bars, right? This is institutions buying Retail buyers cannot do something like this It's a very clear sign that institutions are buying into the stock and the stock is a clear Watch hurts clear stock that should be on the watch list for all of us, right? Just yeah incredible power, right? Look at the volume bars. Look at the volume before. This is skyscraper volume and it's a really healthy action and That it's right now. It's definitely short term extended So we want to wait for it to pull back come in a little and then now. Yeah, this is definitely top watch Look at the weekly chart. So first level for this Yeah, so I had resistance at this 23.88 level and I broke that but if we can pull back to this level That could be a good by the dip play. So yeah, this one's definitely a clear watch for me And then we'll take a look at a firm. This one also made a really nice move this week It pulled back in pretty hard on Friday, but had a really nice breakout On Thursday and then really nice follow-through on Friday And yeah, really nice volume action, but right now Affirm has a Resistance at this 23.82 level. I think we can definitely hit that it pulled back in pretty hard on Friday So it's not too extended But if it pulls back to this trend line that could be a good by the dip by Here get by the dip play and then you can Have a target for 23.8. Some other names that had a good rally last week Coin so this one also had a really really nice rally really nice volume. Everything's looking pretty good with coin right now So Definitely clear resistance at that 84 level last time you were able to break out and then consolidate Form a little bull flag, but we ended up failing. So this time we want to see what we can do This time we have nicer volume accumulation, which is a good sign So we want to see this flag up right below 84 level built a momentum and then break out, right? As in that's ideally what you want to want to see for this stuff Yeah, right now crypto names are looking pretty good Bitcoin and Ethereum are also looking at pretty solid Next up ST so this one this is another name that has been be that has been super super beaten down But it's pretty much doubled off the low so far. So this is soft that has a lot of potential This one also pulled back in pretty hard on Friday, but there's a good chance that it can continue Moving forward We have resistance At this 26 level multiple rejections here, but if we can take out Right there's no resistance here, right if we can take out this 24 level there's a good chance that It can squeeze a lot more and 26 would be the first target Yeah, these names are not Names that you want to be long-term holding for sure. These are names off the bottom and these names are a lot more riskier But these names have really good risk reward potential right these names have squeeze potential A lot of people have been shorting these names. So if they continue to move up There's a good chance that they'll continue to squeeze and make pretty big moves And right now this already made a pretty big move 100% off the lows But there's a chance that it can move a lot more Um This is an example of a move or of a sock that moved quite a bit off the lows, right? It's one moved all the way at 438 percent off those just pretty insane, right? this one pretty much already squeezed but Again, this one is so so beaten down that it has a lot of more it has a lot more potential and Yeah, the first target really is Is $28 so yeah, this one has this one already made such a big move I can still double from here easily Let me check I think yeah, I think that's pretty much it for this week So you want to be focusing on the tech stocks the big cap stocks like Microsoft Google I don't want to wait for them to consolidate pull back a little and then try to find the areas to buy the dip, right? so For stocks like Google you want to you want to wait for price to pull back to this Short-term uptrend trend line and if that can happen that would be a good buy the dip play and for these For these stocks that have squeeze potential you just want to wait for them to also Build some sort of flag two to three day flag and just yeah, I tried to or you could also try buying them on the short-term uptrend double or a short-term uptrend trend line and Yeah, if you can get if you can get a bounce off that trend line That could be a good opportunity to buy the dip and again these these type of stocks have really good risk reward Issues so definitely something to pay attention to but yeah, that's pretty much all I got for you guys for this week Yeah, thank you guys for tuning in