11/24 Best Idea For The Week Ahead

This week’s best idea is in a hot sector but has lagged just slightly while being a quality name. I think it has alot of room to run if the recent moves in its peer have been any indication. I have 4 different trade ideas on how to play the move from risk reversals to selling put spreads but first let’s look at the overall market picture. The market has continued its resilience by testing the 21 ema 5 days in a row without a single close below it. That’s what bulls want to see, every dip is being bought.

On a weekly timeframe, we just had an inside week, nothing of note, but it was our second highest weekly close ever. This coming week is a 3.5 day week with us closed on Thanksgiving and a half day on friday. We have not closed below the 21 week(light blue line) since last October, that isn’t a typo, this has been one of the strongest year plus periods I can remember.