Updated: Jan 5, 2022
It would be fitting that volatility roars back to start off 2022 as it is the "Year of The Tiger".
"The Chinese Year of the Tiger is the third year of the 12 year cycle of Chinese Zodiac animals. The old Chinese story behind this was that the Jade emperor ordered a race to select the 12 animals to be his personal guards. The animals arrived in the order of the cycle." https://thewoksoflife.com/chinese-year-of-the-tiger/
We have limited our trade suggestions to both our members and the trading community because of the volatility we expected to occur as the markets begin to prepare for Federal Reserve Tapering and interest rate decisions. There is no doubt Federal Reserve minutes and decisions will continue to influence expectations on future economic growth and as a result, asset class performance. We gave our members a heads up for a potential swift move down yesterday as seen from our screenshot below. Our buy signals were close to hitting on several names as $SPY was making a new all time high. However, less than a handful of our buy signals were triggered and what resulted was a swift move down.
What we expect to occur next are support levels to establish the next two to three trading days followed by a swift move back to the upside. We noted to members that we did not want a 2nd scenario to play out. As of now we do not believe it will.
Below are updated charts and commentary. You can click to join our free discord with any specific questions: https://discord.gg/vGcqT4ystm
Charts and Commentary:
$AAPL - a leading tech name. Look for support to establish in the coming days despite it's topping pattern forming.
$TSLA - at key support levels. Ideally longs would like to see a bounce in the coming days near $1051.37
$AMD - nothing has changed from our initial outlook. Still in good shape. Another name we like longer term and will be addressing entry points for members.
$NVDA - setting up for its next move higher. Another name we like longer term and will be addressing entry points for members.
Stay nimble and talk soon! -J