 Okay, folks, welcome to the week ahead commentary. This is Bob Desmond and it is Saturday, therefore it is Best stock charts for the coming week folks. What we're gonna talk about today is A how is our week last week? What did we get right? What did we get wrong? Then we're gonna segue over to into our watch stocks for the new trading week and they will be pins pinstress snapchat symbol SNAP Rent-a-center RC II zoom symbol ZM and GD general dynamics a cyclical defense play But before we begin, let's talk about our sponsor, which is trend spider Don't settle for ordinary trading software folks. It's the 21st century You need to use 21st century charting software that allows you to automate your grunt work with trend spider You're able to customize and automate the manual technical analysis that you'd otherwise have to do by hand I still advocate doing it by hand sometimes This is good for those folks that are new to trading and then validating the accuracy of Your trend line design by using the automated trend line features, which we'll be using today I'm going to demonstrate it in a moment with trend spider You're able to speed up your analysis fine-witting chart setups time your trades with precision and you also Get a 35% discount when you use the link below discount code CON 3 5 you could go over to trend spider using the link below take a tour They have a seven-day free trial offer. They have scanners Charting insides backtesting alerts, which I use all the time. So don't wait jump on it Let's get to best stock charts for the new trading week and as a reminder tomorrow Being Sunday means that it is Sunday night futures live join us 6 p.m Eastern Standard Time on YouTube. There's a link below Enter your email address if you're not already on one of our email list You'll get alerted 15 minutes to a half hour prior to was going live. So let's get to it What do we get right? What do we get wrong last week? Well going into the new trading week? I mentioned to members that I thought that we would rally on the week We would start the week off strong The however was is that given the breakout the prior week on the VIX and the bearish reversal bar? I have the Russell 2000 in front of you the bearish reversal bar here The probability of a sell-off late in the week was pretty good And we even added to a short position of the Russell 2000 But what did the market tell us? This is a daily chart. What do they tell us on? Friday We were absolutely wrong all-time highs There was no Sell-off in the back half of the week. It was a strong close horrible volume But a strong close. Why am I being so honest? Why am I continuing to repeat myself as I did with members earlier on the week? I had commentary it's because if you're not going to be honest with yourself in this business You're going to go broke. So it's good for me to say it. It's cathartic now One thing I will Point out and I pointed this out to members on the week ahead commentary members That's been sent out to you already. That is our analysis of the closing price action weekly time frame of The major averages indexes our holdings and the stocks that we're going to be reviewing Today on best stock charge Now I want to illustrate to you the value of using automated trend lines because I did not pick this up I was doing this last night. Let's go back to the daily chart for a moment I was doing some analysis last night and I said, what's right? What's wrong? I took a look using other charting software I like to validate using trend spider and What I saw was something that was disheartening and that was this when I click on trend lines here it looks as though we're going higher on a daily time frame and Having a short position that doesn't make me feel warm and fuzzy going to the new trading week that however was This let's take Automated trend lines off. Let's go to a weekly chart and I came to this chart here and I said man Damn the weekly chart is validating the daily chart looks like we're going up higher until I clicked this Weekly resistance Look at where we peaked out on the small caps or the IWM whatever you want to trade It's going to be the same IWM being a tracking ETF of the Russell 2000 you could see that we hit this upper band of resistance and We were slightly rebuffed there wasn't a deep rejection, but we didn't pierce it And we saw no volume said sufficient enough to get through that resistance. They may be saying you know how the heck do we have resistance on An ETF or an index when it's at an all-time high. How do they pick this up easy? To show you how trend spiders able to pick up this resistance level were zoomed out here quite a bit and you could see that the algorithms which are Picking up prior peaks going back several years and they're extrapolating those peaks out to where we had resistance back here Back here back here. We're probably going to see the same up here That doesn't mean we can't head higher this coming week This is just a warning flag if you're looking to get long of the IWM you may want to pause Does this mean go short not necessarily? It's a strong market So members more to come here. I just want to illustrate how Trend spiders able to pick up resistance above when that we're at all-time highs It's pretty fantastic stuff So now let's move on to what we got right. You'll remember this time last week We had gone into the weekend and all of a sudden out of the blue all over every financial news medium Whether it be print whether it be televised Radio whatever All you heard was chatter about how Wall Street bets was going to squeeze Silver come Monday. There's only a couple of problems with that argument one is that the silver market is far larger far larger than GameStop AMC and Blackberry combined. Also, there was very little chatter about squeezing the shorts and silver on Wall Street bets and in fact they were denying it saying it was fake news So what happened on Monday morning? Well, the shorts got squeezed So what did we do? Well, we sure as heck didn't go buying silver. In fact, we sold our SILJ that's our silver minor ETF and I warned members. I said listen. This is a Complete scam They are going to sell this thing off. This is a pump and dump and it has nothing to do with Wall Street Bats with the exception of the fact that they were being used as the scapegoat and the financial news media They were more than happy to comply come Friday. No talk about a short squeeze Notice how that faded away. Nobody talks about it anymore. We will hear so we did buy back in on SILJ as it pulled back to fill the gap on Tuesday, I believe here we go. This is a Daily chart we bought back in here. We're slightly down on it, but we sold up here bought down here again We booked a profit made it real good stuff. We live to play another day now take note of where SILJ found resistance or you need to Click a button Bam, there was your resistance level above had you had this you would have known Where to bail out on SILJ let's move on Okay, our first stock up is going to be PINS These are the trades that we're looking to put on this coming week. I already went over these with members on the week ahead Commensary so members that's been sent out through you now. We're gonna begin with a monthly chart and Do a deep dive monthly time frame? We have a breakout in the month of February very nice stuff Weekly chart we had a beautiful flag formation set up and last week we broke out of This consolidation of very very Nice week now that however here is that on a daily time frame we rallied on Friday We faded but with this fade and with this trade up and into the third standard deviation Bollinger Band provides us with Opportunity let's go back to the weekly chart what we're looking for here is For Pinterest to pull back touch your bounce off of the breakout point We'll keep a little bit of sensitivity and what we'll be looking for is an entry point to buy off of Support will keep this active for several days and our alert is now set We're ready to go into the new trading week now And we'll wait for Pinterest to come to us the next shard up snap Let's do the same as we did with Pinterest monthly time frame a Beautiful continuation move higher on the month weekly chart very similar to Pinterest in that we consolidated for several weeks and We broke out so as we did with Pinterest We're gonna do the same With snapchat touch bounce little sensitivity and We're good to go daily chart now snapchat broke out here on the second Pulled back did a retest on the third another on the fourth and on Friday Wow Outside reversal bar very bullish. We may not even get this pullback because we already had it twice So snap looking more favorable to me than pins But ultimately I think both are going up higher our CII this is one where we analyzed this one a while ago and I set up a point at which we would get a breakout sure enough. We got it back in December We pulled back did a retest in January it held ever since then off to the races now when you overlay The automated trend lines, you'll see That this month we managed to do what we couldn't do in January that was to hold this breakout point now keep in mind It's early in the month so a lot can happen here But we did get a little bit extended back in January relative to the third standard deviation Bollinger band in red And when you take it look at RC II fundamentals, it's ranked number one in the commercial services leasing group composite rating of 98 Accumulation distribution meaning are the shares under accumulation or distribution clearly under Accumulation so renter center looking very good weekly chart now. Let's take this off. Keep in mind What happened last week? We broke out But where will we stop bring up the automated trend lines? This will keep you safe look at where We are relative to resistance above now What I want to know is if and when no sensitivity here if and when RC II breaks out so our weekly alert is good to go What else do we want to know? We also want to know just in case if we get volatility Do we get a pullback to support? Let's keep a bit more sensitivity on here Okay, so our alert is now set now we set it and forget it the software will work for us Daily chart a very strong day, but again keep in mind That we do have resistance above so let's stick with our alerts and a look at the seasonality There's a lot of data. Let's go back to 2000 on Rent the center and February's over the past 21 years is fairly strong going back 14 years drops down a bit But still relatively strong March is a very very good month So we're entering into a seasonally favorable period of time for rent the center Just be aware that in May we drop down below 50% up going back 14 years So rent the center looking very strong here the path of least resistance is clearly up a little bit of resistance But I think it will be overcome the next chart up is zoom weekly chart and you can see that back in October We had a bearish reversal bar, then we went into a correction. We bounced in January We broke back up above the 363 spot for one mark. We closed there We did a retest so far in February now. We have rallied up to 419 spot 58 which brings us right into a Resistance zone Which we are slightly above at current weekly chart now the weekly chart We had broken out back here in November the week of the 23rd, but that kind of failed. Let's get rid of this and Let's illustrate what has happened Since that failed breakout. We have a new breakout nice consolidation here We broke out last week We have a volume shelf right here and what we'll do is we'll set up set up in our alert Just in case we get a pullback keep a little bit of sensitivity make some notes to ourselves and We are good to go daily chart. Okay, so The daily chart is very encouraging, but there are some caveats here. What are they? Well, let's begin with the encouraging stuff We broke through this heat map here shows where there's resistance that corresponds with these volume shelves so net net a fairly good week last week for zoom the raindrop candlesticks are clearly showing a healthy validation of the candlestick chart RSI rising also validating The problem that I see is this is that we have two obstacles above here's one at four twenty four sixty six and In that neighborhood is this let's take this off again the value of automated trend lines take it off Throw it back on now, you know where you have resistance above So we have two obstacles here You want to be aware of them and I do want to know when we break out no sensitivity on Zoom and if you're wondering why it took sense sensitivity off. Yeah, I still have sensitivity up there. There's effects Do this and now it's gone go all the way to the right then go all the way to the left it goes away Now you take note of this raindrop chart here. What if you get a blue raindrop chart? That's a sign that you're beginning to see a change in Price action and what we've seen a couple of times in fact on this video so far We've seen on what appeared to be an okay day Had you overlaid your raindrop charts who said you know what I gotta keep an eye on this because the raindrop charts telling me There's indecision here. So we had a bullish setup We were moving up higher then we flashed on an up day and in a day we attempted to break out a Blue raindrop and what happened? We pulled back no great shock and we've seen that on other charts here and I'll go through them And I'll show you and that pullback allowed some of the week longs to exit more of a consolidation then When those weak-handed Investors are gone Then you have the ability to move up and break out and you saw a complete Validation of this breakout on the raindrop chart on Friday Now we saw the same Here on snap we tried to break out or we tested an upper band of resistance. I should say Blue candlestick we pulled back Weekends left what happened rally we flashed another blue doji two down days a retest after a breakout Then we got a follow-through So this is a valuable tool. They just added this price compare Functionality and I've decided to go with using at current raindrop charting as an overlay You can you can overlay anything you want here, but this is what I've decided to go with for now the last chart up GD general dynamics a Ciclical play you could see that we have higher lows here We also have a Breakout out of this Triangle formation we could also validate this chart by overlaying trendlines and You can see that trend spiders picking up Resistance above even though we've broken out now keeping in mind that we have resistance above I want to drill down to a weekly chart and on a weekly chart because I know we have resistance above I want to overlay on the weekly chart monthly resistance. This is using multi-time frame analysis and here we go we click a button and There's that resistance level we saw on the monthly chart now on the weekly chart in dashed line So here's where I want to set my alert on a breakout above resistance and on a pullback and a retest of This breakout point right so why might that happen? Well traders are ocd They want to know what was resistance back here the week prior will now act to support So we want to know if it touches or bounce off of support gd And there we have it our alerts is set. We're good to go here A word of caution going back 14 years on gd worth of seasonality. We probably have more But this is sufficient We're up 60 of the times in february. That's working out. Well beware march is seasonally a weak period of time So this will probably be just a short-term swing trade daily chart Now what we have also On this chart our heat maps in red take them off Or put them on and what they represent Is support and or resistance and you could see over the course of the past couple of months General dynamics has overcome A heck of a lot of resistance And last Thursday was a very bullish breakout. Yes, we had a continuation move higher on friday I'd rather wait rather than chase For a retest I think it's fairly safe to bet that that's going to happen and take note of again here folks Take note that Back on december the 23rd. Just as I showed you with a snap I believe it was zoom That we flashed a blue raindrop On a day where we were up But on that day we tried to break out above resistance, but we were rejected. It's not your Typical doji star formation. It's not even a doji star formation But the raindrops picked it up as an indecision bar and just as I showed you With zoom and snap Typically, you'll get a pullback after a failed breakout And sure enough we pulled back and that's at the stage for a move higher because weak hands were shaken out Take note of where we bounce though. Take off the automated trend lines Put them back on We bounced right off of the automated trend lines A lot of value here with trend spider folks. So please if you don't have it you're fighting a battle with An arrow missing from your quiver So please take advantage of that 35 discount code using the link below folks tomorrow night On youtube, but we will be going live Sunday night futures live Please join us there if you're not currently a member to the contrarian trader Please take advantage of our special offer below If you want trend spider Go over to the website using the link below Sign up for silver or gold and you get trend spider included with your membership And yes, if we trade any of these symbols we've discussed We will send out alerts to members when we enter add and exit I hope to chat with everybody tomorrow night until then everybody. Have a really great weekend and I'll talk to you soon. Be well