 Hello everybody, this is Swing Jim with Xtrades and today I'm going to be doing the weekend review. First stock I want to cover is Apple, especially after the earnings report. It did have a significant gap down, but then did come and close above the 8SMA. If we could see some movement above $149.98 before the FLNC meeting on Wednesday, I'd be pretty bullish for this stock. If not, the support level I'm looking to hold would be the 143 area. It was old resistance at an old all-time high, then became support in this area, and then finally resistance again. This is a pretty key level for intraday in sort of shorter-term support and resistance, so I'd be watching around the 144, low 144, high 143 support bounce. As for an upside target, if we do see a rally here, I think this 157 double top, and if we zoom out, probably that 165 area would be a pretty good area. If not, watch this trend line come into play. It's been a pretty good support and resistance level as well. Next we have applied materials, AMAT. This has been in a long-term range. I'm pretty bullish if we see a breakout of 144. If we do, I think we see at least a rally to 177, could see a rally at 2200. I would like to note that every time we come near the bottom of the range, we are getting those high-volume candles that are holding, and the year-to-date anchored view op remains to hold as support. As long as this in the 200 SMA, this circle generally hold as support, I'd remain bullish and think this is an accumulation range instead of a distribution one. This is DHI. I'm a fan of this stock. It's setting up a particular pattern we've seen a lot in the past. If we zoom out, we could see a lot of these bull flags playing to effect. You have a bull flag consolidation, bull flag consolidation. I think we're going to see a very similar thing over here. If we go back in time, we can continue to see these bull flags play out again and again. This stock loves bull flags, and I'm pretty bullish on the residential construction sector as well. We're also seeing a lot of testing candles, demand testing candles near the bottom of the range, which is a pretty good indication we'll most likely see continued bullish support. The only thing I'd be somewhat concerned about is the earnings report, but I think it will be mostly positive. I think a rally to at least this red box at 9520, a nice 5% rally is pretty much in store. I do think we'll at least test the 110 level. It will take some time to consolidate outside the bull flag, but I do remain bullish on DHI. Next stock we're looking at is DNN. I've been covering the stock for a long time. I'm pretty bullish. We did see some short-term weakness by it breaking the 1.8 level, but Uranium has a really good bullish thesis for the next two or three years, which increased demand. A lot of these new countries are finally coming around again to Uranium, specifically Japan and the EU. They understand they need to increase their Uranium energy sources to kind of maintain their green energy initiatives. We're also seeing the Sprout company buying up Uranium on the spot price, which is increasing spot, which is very good for these miners. Most miners are not profitable with spot. Probably under $60 or $70. So I think the spot price will hit there and we'll see DNN at least hit the $200 level. I think we'll even go to about $225. For the short-term, I'm looking for this $149 level to hold. It lines up with the 50 SMA and the anchored view out from the recent local low. We also see that this resistance area back in February and in June, and you could even say in the September-October area would need to hold that support. I think it's a good short-term level. Thinking about yesterday's close, though, it is good that we got above the 20 SMA. If we go to the 65-minute, this area right here, this 160 to 162 area, has been a good short-term, intraday timeframe support level, so I'm happy we can see that hold. You could say, though, this is ahead in shoulders, but you also could have said that it was ahead in shoulders over here. DNN seems to do a lot of fake outs of the head and shoulders pattern, which is a bullish sign because we are getting a similar setup currently. Next is ENPH, Enphase Energy. I'm seeing a lot of rotation into solar after this very, very strong ER. It looks like it's doing some ER post-drift. Essentially what that is is after a stock has a very strong earnings report, it typically drifts in one direction, and ENPH is a good example of that. Another one would be selling like SAM, where it had a huge gap down, and has continuously been drifting down around another 35%. I think we could see something similar for ENPH if we hold the top of this purple box at 222. Upside targets would be 250, and the downside targets would be 187. Again, because we're seeing rotation to the sector, I would remain bullish. Next is FCX. I'm also pretty bullish on this stock as well. We broke the downtrend line. Now we're consolidating above almost every moving average with the SMA. This consolidation zone has very, very low volume, and we're consistently holding this support level at 37.29. It lines up with the low of the highest volume node. Once we break the 40.70 level, I think we'll run to $50. I think copper is going to see some more continued demand over the course of the next two to four years due to some really low supplies, and the fact that countries like China are going to continuously need more and more copper. And it's a common resource used in a lot of electrical devices. So I think copper is going to see more continued upside. Next, we have GDX. I'm very bullish on GDX in the short term. I think as long as we see this 50 fib and 50 SMA hold, we're going to see some nice bullish action to at least the 35.56 area. I'm getting a very similar setup that we saw back in May where we had an initial rally. We kind of had this V-shaped top. We pulled back on a pretty low volume. Again, we're seeing something similar. Yes, the volume rising. But if you look at the yellow arrows, really the two times you've really seen low volume gap downs, and they haven't really sustained for any significant moves, the rest of these green hours, you're signifying, gap downs above the 50 SMA or any high volume gap downs. This is actually the first major gap down we have seen. That was below the 20 SMA volume moving average. So I really don't see this as a sustainable move. The volume just didn't really correlate with the price action we saw. I think this was a classic trap we see before the FOMC meeting. Assets like gold are a lot more heavily affected by this, in my opinion, than other stocks like utilities, healthcare, and a lot of your other average sectors. We are seeing a similar pattern where we have a downwards trend. We break out. We get close to a back test and it's the same thing here. We have a downwards trend. We break out and we have close to a backwards test as well. As you could see, the 50 SMA starts to curl upwards. We get a nice rocket launch effect. I think we're going to see a very similar action here where the 50 SMA came in as resistance and now it's going to act as support and help GDX launch upwards. If we see this area break, we could even give it all the way down to like 31. Once we see 31 break, I think we'll see most likely a retest of the 2950 area. But a common thread between both of these bottoms is that we see this change of character gap up. We see high volume gap ups that are not closing the gap. I think that if we see that here, that's going to be a very important sign. And as you could see, we see the same thing for a lot of these downward gap downs, really high volume gap downs where they're not filling the gap. And this is a very, very important concept. This is an example of a high volume gap down, but it really didn't get any sort of continued momentum. We consolidated for a little bit and gapped up. We saw the same thing here. We saw a gap up in consolidation. So if we saw something like that or a one or two day drop in rocket launch up, those are kind of the two scenarios I'm playing out. I think have a decent chance of occurring. I will remain bullish on the sector and I will continue to cover more stocks in the sector in the video, but KL and GGB are my two favorites in the sector. Next is GD.0. This is a Canadian stock. I'm a big fan of the stock for one reason, relative strength. I mean, look at how much more bullish this stock looks in GDX. Yes, this is a junior minor, but we had a beautiful bull flag consolidation rally and now we've been consolidating and we're about to break out again. We broke out level. We back tested and now we're starting to rally. As long as we could kind of clear the 3.5 level, I think we're going to see a nice rally to $4. We've had a lot of time to consolidate here. So an upwards move of 50 cents to a dollar is very justified due to the length of the consolidation. We've seen consolidations last around, you know, four months and seen a nice 50% rally that we could even go as far to say this entire range was a consolidation and that's around 10 months. So seeing something close to 75 to 80% is pretty justified. We saw the same thing here. We broke out of the 2.7 level. We back tested. We're holding. I think we're going to see a similar action, but we're going to rally a lot quicker if GDX can bottom at that 50 fib and 50 SMA level. Another thing I like to add is that we're seeing some volume come in. Yes, this first candle was pretty bearish volume. You don't like these upper wicks getting volume, but the next day we bounced back pretty hard and held the old resistance is now turning into new support. So as long as this 3.35 level can continue to hold that support, I'd remain very bullish on the stock. I think this is a very low risk entry. Let's say you enter even at 3.44, you have a 5% stop and your target's going to be around 30 to 60%. That fits almost everyone's risk to reward ratio parameters. I think it's a pretty good probability bet. Next we have KL. This is my other favorite miner here. This is more of a larger cap miner that I'm a big fan of. We broke the 20 SMA in the 45 level. So my target would be this 41 level. It's kind of the mid range of this bull flag setup. And we do have a key anchor view off and the 100 moving average as additional support. So I think this would be a good place to pick up shares if you do want to get more exposure to KL. If not, we most likely will bottom at 39.52, but the much stronger support level is a 36.74 level that also lines up. We keep extending this trend line up below this bull flag. So that would be kind of the short-term and downside targets I see for KL. Upside targets, once we really break this purple zone, which lines up with the Fibonacci, I'd look for a quick rally to 51.80. If we go the weekly timeframe above that, we would most likely see a rally to the 67 or 75 level. Next we have NUE. I'm a big fan of this one. We had a nice sort of consolidation powder here, rally. Another correction rally. Another correction I think we'll rally again. I think we'll see some more consolidation probably till December, maybe January, and then we see continued bullish support. But if we go to the monthly timeframe, we could see that this sort of consolidation right here looks very, very similar to the consolidation we're seeing over here. As we could see, we had a long-term consolidation pattern, rally, chop, rally, long-term consolidation pattern, rally, chop, rally. I think we'll see continued inflation. So I think that's another bullish sign for Steele. And I think the supply chain issues will last for at least another six to nine months, which would be additional bullish support for the steel trade. I think use a better setup than X. I still like X, but relative strength-wise, N use a lot better of a stock. And I think you will see an outperformance from NUE relative to X. More for the shorter-term targets to the downside upside. I see the 99.41, low 99 area as a very good short-term support. As a longer-term upside target, this sort of 121 area acts as pretty good resistance. But we're seeing four signs of upper wicks. So we could rally here, but it looks like someone's trying to hold the stock down till FOMC. You very rarely get four upper-wick candles and two of them with extremely high volume. It's a pretty rare sign. This usually signifies that someone is trying to push the stock down. It's seen that we're seeing a lot of supply testing in this general area. So I think we might see, like I said, a little more consolidation before we rally. Next is SEDG. This stock is, again, another solar name that looks pretty bullish. We broke the 307 level, gapped up and have continued holding the range. We've held the gap low of 336, which is a bullish sign. And it also lines up with the resistance level over here back in December to February. If we look at a lot of these solar names, we've been seeing a very similar pattern till we saw an 1819 where we rallied. Kind of had a consolidation. We rallied again, and we're seeing that sort of similar consolidation. And we're seeing some nice bullish volume on the weekly timeframes. Again, N phase looks pretty similar. We go up. We see that kind of correction in the 1819 area. We go again, and we're getting that sort of sideways consolidation. And we also gained that volume again. The key thing here is that we see continued bullish support and momentum from this high volume. A key thing we'd have to see here is that energy stocks, especially the oil stocks, would have to remain low. And ideally, the rates like TNX will also remain low. Those are very good bullish thesis for the solar sector. You can compare XLE and TAN from the past year. And you can see when XLE rallies, you see a lot of relative weakness in solar. So if you want to see continued bullish support here, we would need to see XLE kind of consolidate a little bit. And I think we will. Oil as a sector though has a lot of catalysts this week with a good amount of the major companies having earnings reports. So I would keep an eye on that. But generally, I will still remain bullish on the sector. Next is SHOL. This is Steve Madden. I think it's a pretty simple setup here on the weekly timeframe. We're holding this 44-54 level as bullish support. Once was resistance, now becomes support. If we go to the daily timeframe though, you could kind of call this a cup and handle. It's not very clean, but it is justifiable. But as long as this 8SMA holds, I would remain pretty bullish. We also have a double inside candle setup. This is a very good setup for upwards expansion or downwards expansion movements. It pretty much tells you that a big move is coming to a coil or a spring as you compress it more. Once you release it, that energy is a lot more explosive. So if you compress a spring to the tightest possible setting, it would have a lot more outwards expansion than if you only compress it to 25 or 30% of its capabilities. So the double inside candle setup is close to that 100% range than the 25% range. Next is silver. Seeing a very similar thing as gold, we have the downwards channel. This was a mini bear flag within the channel. We had the nice gap down with volume, had a little bit of momentum. Then we rallied. We recently broke the very short-term trend line. This is a very good support area, this 2162 to 2141. As long as we hold that, we should see a nice rebound. If we do break this 1989 level though, I'd be a lot more bearish. I think a quick pull down to the 17s area is most likely expected. As you could see, the volume profile between these two white lines is very weak compared to the rest of the chart. And we can go the monthly, even in the longer-term setting. Between these two white lines, the volume profile is very weak. It shows you that price can cut through this area very quickly. So as long as we stay above 1989 in the long-term, I'd remain bullish. If we break this level, this consolidation would then most likely signal for some sort of distribution pattern. And we could even see a draw down all the way to the 1584 level. I don't think we'll see that, but it is a possibility. Next is XSLX to steal ETF. As long as we can reclaim 5801, I'd remain pretty bullish. We had two major gap downs. We really didn't get any continued downside pressure. So this consolidation is really most likely not a distribution. If it was, we most likely would have went all the way down to 4917 and then sort of rebounded. Instead, we held these gap lows very well and started kind of rallying. The goal I would have short-term is that we start reclaiming these moving averages. These moving averages rolling over and becoming support would be a very, very negative thing. I would also like us to see that we can reclaim this blue anchored view op. This is the year-to-date anchored view op and has consistently been a very good indication of support and resistance. So we can reclaim that level along with the 58.01 level. I would be very bullish on the sector and we would most likely then rally towards that 65, 73 level and would very much help NUE and X. Next is SMH, the semiconductor ZTF. There's really not much else here besides the eight SMA holding. We did have a nice bullish engulfing candle from the open to close standpoint but the volume was pretty low, which is not a pretty bullish sign but as long as 271 holds, I would remain to be bullish. We saw a lot of breakouts across the end of last week and that would be also showcasing monthly candles breaking out as well. I have noticed that the volume across the most stocks and most sectors has been down but as long as we continue making new highs and breaking out, it's going to be very tough market to be shorting. So that's why most of this video is tailored to long setups. Next is spy here, the three short-term resistance levels. The eight SMAs holding were above all these levels. Again, we have seen pretty low volume here with all these gap ups. So I would kind of expect some sort of consolidation at this point, highly doubt we're going to draw back all the way to 428. Just doesn't seem likely. But I would add is that a lot of stocks with Inspire not making new highs, we're seeing a lot of new highs being more towards the large cap and mega caps and less towards the smaller cap stocks. If you look at something like IWM, this has mostly been consolidating since February compared to spy that's really been still in this uptrend. So it looks like the rotation is in most of these a large to mega cap stocks. For example, we're seeing, Microsoft and Google Netflix, seeing a lot of short-term relative strength. I mean, even Amazon to an extent, I mean, it looks more like IWM, but you could justify in the last couple of weeks it's been doing pretty well. But it's really not a good example, mostly Google Netflix and Microsoft have been seeing that short-term very heavy rotation and relative strength. So I would stick to more of the larger cap names. And I think that because those stocks carry this sector, we'll see continued upside and this will help some of the larger to midcaps kind of get rotation in as well. Next is tan. This is the solar ETF. We broke 91 and 91, gapped up, held the year date anchor view up. And I think we're now on track to hit this 102.92 level. There's also some fibs that line up here. I have them hidden on the chart, but there is some fibs here. Once we broke it down, tried line and we kind of saw a change of character after this gap up. We started to consolidate, but then it really float upwards and hold the 8SMA very well. Really since this major change of character gap down, the 8SMA has really not been significant at all. It really hasn't been able to hold much support and resistance in the long term. So we're looking to see that hold as support. And if we do hit 102.92, I'd rather see some consolidation, have the 20SMA catch up, form a nice little range, and then break out and rally towards the 125, retest these highs. Instead of hitting 102.92 and then immediately pull back to 91.91, that'd be a lot more of a bear situation. And most likely mean that this is more of a shorter term rotation and the oil and energy sector is still getting the majority of that longer term rotation. Next is Tesla. Tesla's okay here. Not the best stock at this point to do an entry. I was liking it a lot in this area. I kept calling down the chat as long as 774 holds remain bullish. 774 held very well. 8SMA did a great job of support and has continued to launch upwards. At this point, I think a lot of people are trying to short and it's kind of exacerbating the situation. It's allowing long to kind of squeeze this move out even longer. I would avoid the stock if you're not in. If you really want to play it, selling calls is probably the best way to do it over taking a short position. I don't really see the risk to reward here. I just wanted to cover the stock because it's been very popular due to its recent rise. I do think though that a one trillion market cap is overvalued for this company considering what its output is. Maybe in five to 10 years, it can kind of justify those. But in the short term, I don't think this stock should be more valuable than every other auto manufacturer combined. I just don't see the sales justified for that. I understand it's bigger than just a car company, but still, I think because of that, we must see some sort of pullback or consolidation to get the, you know, valuation more in line to what it should be. However, this was a pretty long consolidation and we did break out. So, you know, hypothetically, this really could run to at least 1267, but even in a longer term setting, could run to like the 1425 area. Next is UFPI. In the past, let's say week or so, wood has had some relative weakness, but instead of doing a pullback, UFPI has consolidated it very well, and it's allowed the SMA to catch up to price action. So, as long as we kind of hold this general range, I would remain bullish. I'd like to see this purple box hold as support. We had resistance, resistance, resistance, and now we can hold this as support and rally and rally to $100. That's kind of my shorter term goal. You could even call this a nice cup and handle. It's not that clean. We wouldn't need this to base out a little bit more, but it is a possibility and we did break the downtrend line and had some really good volume and we've been able to hold the range. Like we did not pull back to 7829 or even to the opening of the candle. So, I think that's like another continued a bullish sign that UFPI will most likely try to rally to $100 or at least rally to $89. Next is Uranium. Covered the stock a lot in the swing trades chat. 87.47 is the short term level you want to see hold if that breaks ideally 80.33 but more importantly 74.90 needs to hold. Once you break that level, 70 is the next area and then after that it goes down to 60.85. I think Uranium will continue to be bullish. You might see some shorter term weakness with energy gain the rotation out and going into solar, but as you could see the continued volume has been way above average. The average volume line has risen from around 140k to around 461k. This shows me that continued institutional support is backing Uranium. You could look at URA and say a very similar thing. The average volume has continuously risen for both the major Uranium ETFs. This shows me that institutional sponsorship is very heavily backing the stock and really backing the sector as a whole. You're seeing stocks like DNN, UEC, LEU, PALAF, CCJ, all these stocks continuously getting that upwards volume pressure. So it shows me that a lot of people in the institutional game are interested and they're continuously buying up shares here. I would be a lot more concerned if we saw the volume drop back down to the average volume of 124k. It would show me that this rally here was more of a one-time event but we're seeing continued accumulation volume over the course of two to three months. It would be very surprising if we saw Uranium go all the way back down to the 55-60 area. It would mean that all these institutional buyers would be really selling for a loss and I just really don't see that happening. Their major goal is to have rallies consolidate, rally consolidate. The way they consolidate is by selling their shares. They don't want the stock to drop. They need it to go sideways so they can sell their shares to retail. So that's why I don't think we've really seen that. You know, it is going sideways a little bit short-term but a trend is still upwards. All the moving averages are curling upwards besides data. So many of the year data anchored view op is lining up at the 7490 level to make it a very, very strong support level. So I think we have a lot of bullish thesis like I covered earlier in the video for Uranium and the increased volumes are very good sign. Next is UUP. I really hope that this orange ban that's about to pop up on the screen continues to hold its resistance. This would really show that the odds are we'll kind of flush down at 2481. And we get a break and hold of this anchored view op which is a very important one. I think we'll rally very quickly to 2588. This would kind of put downwards pressure on any sort of metals rally. It's not a humongous factor but it is big enough that we definitely should be noting it. And it's especially big for silver. The inverse correlation between silver and the dollar is pretty big. So I would be, if you expect silver to be bullish we would need some sort of pullback to 2481 level for the dollar. So looking pretty likely, like I said as long as this orange ban holds and we do see the volume node here that lines up at the 2540 level to be very, very strong if we zoom all the way out. If we zoom all the way on the daily it's not that strong but in the shorter term standpoint it's definitely where most of the volume is coming in. Next is Wayfair, very simple trade. 232 holds, expect a rally to 288. If 232 breaks, expect a drop to 189. It's a risk to reward here if you can get a entry near the 8 or 20 SMA at 240. Have a stop below the most local low at 7%. Hope for a rally of around 20 to 21%. That's your three to one risk to reward ratio. If you play options you can probably position yourself in a little bit better of a risk to reward situation. Next is X. X cleared all the major resistance levels as we see here, which is a very good sign. All the moving averages it's above. It's above the key to Anchor View Up. Above the year data Anchor View Up as long as 2515 holds we should be good. The key thing is when we see volume of this scale we want to see continued follow through. If we don't it's kind of I'd say more of a bear sign. I would like to see X rally at least to 29 dollars. It would show that this is a pro gap, a gap and go. Pro gaps and gap and go is really the start to a lot of major rallies. Even right here for X we had a gap. We pulled back it held and we rallied. If we zoom back towards December we had the pro gap and rally. We could continue, this is a pro gap down, a big gap down, we see continued momentum. These are the type of things you're looking for to start off and move. It does two things, it generates momentum and it gets enough volume in there to catch the eyes of retail and institutional traders which X has done both of. It got some momentum and it got the volume. Now we need to see that continued momentum towards that 2850 level and hopefully above 30. The next is XLB, very simple trade. We hold the trend line remain bullish. If we break the trend line this is the target area for the short term 82.93 to 83.72. If we break this red box in the conjunction of the 86.86 fib, expect to rally to 90 dollars. It's really that simple. Play your levels for XLB and look for a volume breakout. We saw the volume breakout it determined the direction. I expect very similar action here. Also does go to show that as we get closer to these volume dryups, volume dryups are areas on the chart where volume is very, very low. We do usually see some very large moves. It's like the same thing with the coil. It's the same concept. So as we can see the last time we saw really low volume we did get some nice volume boost. I'm seeing thing down here. So I'd be watching for that. XLF really simple, 8SMA holds expect continued rallies. If not expect this trend line to kind of hold as support I should position that better. It also lines up with the 20 SMA. So that'd be a flush of around 2%. As long as this gap low holds about 39.32 to 39.18 remain long term bullish. If that does not hold I'd expect a flush to 38.58 but more likely we will test this 37.11 area. Rates continuously rising will help the sector. So be on the lookout for that. I would like to add before I move on this is I hold one or two banking stocks as a hedge a lot of the commodities sector and tech stocks like lower rates. So having one or two stocks that benefit from the higher rates is usually a good thing to kind of balance out the portfolio. Next is industrials. Key support level resistance level here. Sorry at 105 to around 105, 80 to 105, 20. If that holds as resistance expect a flush towards this volume and moving average medium. As you can see it's the middle of the range. The volume profile in this area is pretty strong in the moving averages all line in this area. We are seeing a little bit of the volume dry up. We need a volume close around the 5.5 million area. Once we get that a big move should be coming. You could say though this is a mini cup and handle. It's not the cleanest but as we iron out this handle more it would look more and more likely that this is a cup and handle setup and we'll see a rally to the 110 area. I will say though in the shorter term the sector has been lagging. Something to keep in mind. Finally we have XLV. I thought we were going to see more of a consolidation area in this purple box but we've really been able to cut right through it. So as long as we stay above 13370 expect a nice rally to 136. Of this key 124 area identified at the beginning of the month had a nice triple bottom and held very well and had a very big rally. As you could see old resistance becomes a new support. So I'm hoping that the same thing kind of happens. For this old resistance level now becomes new support. Maybe we rally to 134. We back test 133 consolidate a little bit and then shoot up to 136. So that was a quick market review market update. My thoughts and with the market in these stocks I'm following are going to do for the next two to four weeks. I hope you guys learned something from the video and I hope you guys enjoyed the video as well. Have a great trading week.