Good morning and Happy Thursday. This is Jake from jakethestockguy.com. Let’s get right into today’s charts. I’m going to go to the year-to-date, going to blow through these real quick. Here’s [0:01:56] a good recovery stock. We broke down right here, [0:01:59], too. This [0:02:01] was another area of resistance. We look good on the daily. Got the crossover, negative divergence here [0:02:21] on the ADX. Our trend is starting to trend up. This [0:02:27] is a good area. This is, for me, a good setup. I’m going to go back to the day on the 15-minute. You can see here [0:02:51] a little better another micro daily time frame. We could get a little pullback to this [0:03:23] support area, this trend line. I might be waiting to buy here [0:03:31]. I want the 1250 calls expiring next week. It’s kind of a lotto trade. If I go out to the ten-day time frame, you can see a little better an elevated view. Now we’re at a good area for support.
We’ve got some overhead resistance right here [0:04:46]. Just a little bit at the 1202, so I’m going to get the 1200 calls expiring today, small position. It’s a little bit of a lotto trade, and then this [0:05:21] would be the next big area of resistance for SHOP. I like that Amazon had a big run for two days, so we can see – SHOP and Amazon are a little bit the same. I think some Credit Suzy or one of those analysts gave it a buy signal, so something to keep on eye on.
Not looking at too much today, guys. It’s the end of the year, last day of the year. Just want to make it a good, easy day, stress-free and start the new year fresh. Wow, beautiful run. I think we got a little bit more room here [0:06:31] on BIDU. There’s [0:06:42] my other area I drew here at 232.28. We’re a little over-bought on BIDU, so I’m just a little hesitant here with this one. I don’t see why we can’t get the push up here to this next area of resistance. If I look at the weekly, then you can see also on the monthly, yes, we’re over-bought conditions, but with these things – look at Tesla. How long has that been over-bought? Also, this [0:08:04] is interesting. We’re not quite there, almost there but not quite. Did you see here [0:08:12], this peak? We’re a little bit far from it. We’re right on it. We’re a little bit over it, actually. We’re not really on the MACD. We got a little more room to go, I think, but this is a day trade, not a swing trade. This is get in, get out operation.
I’m going to go to the ten-minute time frame. I’m also going to look at the five-minute time frame, too, because it’s not quite as accurate. It’s not a good representation of today’s action. Let’s go to the five-day. Little interesting on BIDU; I’m a little hesitant. I think I’m going to wait for confirmation of break of this 229. Look how it just broke through this [0:11:38] and it’s already almost here [0:11:45]. Not looking for much on BIDU. I’ll probably sell two-thirds of my position at this resistance and see if we can get a little bit of a runner.
You guys, got to keep an eye on SPY. What is it down? It’s up. We were a little down on SPY earlier. I thought we were down; I guess we’re flat. We still have this big gap window we haven’t filled yet right here [0:12:37], 369. I think that’s still in play for the new year. This is what I’m watching, guys. Good luck today. Last day of the year, let’s just make it a nice, easy day. I think M is the first trade I’m really focused on and then I’ll look at BIDU, M, and SHOP. Have a nice buy opportunity, get the 1250 calls for next week and see if we can’t get this thing to run all the way to about 1345.
That’s all I got for today, guys. Let’s make it a nice, easy day, last day of the year. Happy trading and I’ll see you in the Slack. God bless and I’ll see you on the charts.