Chapters
00:00 Intro: Another TA Report
01:34 Nick: Reading the QQQs
02:38 Nick: A Head and Shoulders Forming
04:11 Nick: A 300 to 400 Range
04:42 Nick: Stocks Need Bases
05:44 Sentiment and Record Put Buying
07:14 Watching 316 on the QQQs
09:17 Amazon's Negative MACD
10:49 Sentiment on Social Media
12:21 Ben: Bear Market Rally Action
13:54 GP: The Fed's Decision
18:00 GP: The Most Dovish Outcome
21:35 GP: Bent, Didn't Break
22:36 GP: Amazon's Oversold MACD
25:11 Ben: Amazon Below the Line
27:44 GP: Cathie Wood and the ARKK Chart
31:24 GP: Shopify's Megaphone
35:59 The McClellan Oscillator
39:34 Ben: Salesforce Leaps
42:10 Ben: Salesforce, His Highest Conviction
44:10 GP: Buying the Dips
45:10 GP: Rates and the Yearly Candle
48:15 GP: Apple and the QQQs
53:24 Nick: Datadog Through 140
56:31 Watching Futures
58:34 Gaps and the First Hour
1:01:37 The Ichimoku Cloud
1:02:37 Ben: Bitcoin Above 38,000
1:03:39 Wrap-Up
Market Hours #4 was a Sunday TA Report with Nick, Ben and GP on January 30, recorded during the AFC Championship game. Nick mapped a possible 300 to 400 range in the QQQs that would build bases. GP called the Fed meeting dovish and said the market bent but didn't break. Ben is in GP's pro-Amazon camp and named Salesforce his highest conviction. They also covered record put buying, Amazon's MACD, Cathie Wood's ARKK, Shopify's megaphone, the McClellan oscillator, rates, Apple's weight in the QQQs, Datadog, futures and gaps, and Bitcoin's cloud.
Nick's setups, levels and trades
Nick pulled up the QQQs "with a head and shoulders forming here." "That'd be kind of a nice range like a 300 to 400 range i mean that sets up like when that when that breaks out that sets up your move from four to five hundred like no problem." He wants "more of a sideways action happen to allow all these stocks that have gotten absolutely decimated to build some bases," because "i need more setups." Scanning charts during the show, he liked Datadog through 140.
Ben's setups, levels and trades
Ben said "this is bear market rally type" action, "but we haven't gone through a strong bear market since basically" the financial crisis. "I just so happened to write about amazon today," and "of the seven times two of them have been greater than fifteen percent below the line," while "the one we're currently in is eight to ten percent below it." "I'm in your pro amazon camp gp." Salesforce is "one of my favorites," and "a million two was used just to get long leaps in salesforce." "Salesforce is one of my highest conviction" names, and "i already got a nice position in it." On Bitcoin's Ichimoku cloud, he watched for a close "above 38 000."
GP's setups, levels and trades
GP said "that was probably one of the most dovish kind of meetings we've had in the last couple of months." "On a week to week basis you didn't break the box roku bent didn't break square bent didn't break." On Amazon, "forget the indicators what did the price do by the end of the week it closed right back into the box." On ARKK, "the second thrust got rejected," with "two big volume kind of" selling candles. On Shopify's weekly megaphone, "you should at the at a minimum see a mean reversion to around the 1200 area." "In the QQQs in the spy i i i've been buying on the dips because i think we do move higher." "I still think rates are going higher by the end of the year but short-term action right now is telling me we're struggling to break out of the yearly candle," and "the first break after a 20-year downtrend is usually not the one."
Subscribe for the weekly live show at YouTube.com/@MarketHoursPod.
This is not financial advice. Market Hours is for education and entertainment only. Always do your own research.
Follow Market Hours: YouTube @MarketHoursPod · X @markethourspod · TikTok @markethourspod · StockTwits @markethourspod