Pre-market Live and Options Picks for 03 29 21

Good morning, traders. This is Jake from, happy Monday. Let’s get right into today’s pre-market analysis. Not really much to do today. It’s Monday. It’s a short week. There’s a federal holiday Friday, so I’m looking at only a few stocks this morning. BA is one of them. We’re going to go through. I’m going to do some technical analysis for you, make it real short and sweet.

You can see I had some historic, pre-market lines right here [0:39], support, resistance, so nice gap up on a couple names like I was expecting. BA, a nice gap up. Where did it gap up to , resistance.

I really don’t know how I feel about today as far as market sentiment, considering we had a big gap up, or a big push, on Friday, almost all-time highs. No, maybe all-time highs on S&P 500. You can see here [1:26], on a shorter-term time frame, we have this nice trend right here [1:29] moving it to the upside. It looks like some names are rebounding from that market rotation. This is your trend line right here [1:40] to go long.

Also, you can use your RSI and your stochastic on the ten-minute time frame. Remember to always draw lines. Remember to draw support, resistance, channel lines. This [1:51] seems to be a good area. It held it, pop sideways, gap up. We could go to the upper range today, but I’m going to wait. Buying right here [2:01] in the middle is 50/50. I’d rather buy back that here [2:04].

SPY, as always, you know I love to trade SPY on Mondays, Wednesdays, and Fridays because they have the same day expiration options. SPY is getting close to support. I’m on the ten-minute time frame. I might be taking SPY long today for sure.

You never know if this is going to work or not. You just have to try and keep your position sized. Usually with day of expiration options, or weekly expiration options, I like to lean on a little bit more of the 1% side of my portfolio rather than the 3% side. Swing trades can be 3% because you have a lot of time on them. These are high-risk trades.

Last but not least, I’m looking at DISCA.

Thanks for turning in for this Pre-market Live. I will see you on the charts. God bless, be great.

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