Hello there, trading enthusiasts, it’s Andy back with your Daily Trade Ideas! It’s Monday, December 4th, and some fascinating action has kicked off this week. Let’s delve right in.

Market Unexpected

Coming off a rather intriguing Friday, we observed resistance around the 460 level in the SPY, only to gap down to the Friday’s lows this morning. It’s a development that candidly seems to have caught several off guard.

“We’re gapping down to the lows of Friday. We’ll have to see what this means when the market opens up. But I think it caught a lot of people off guard with this big gap down.”

A Closer Look at Trade Setups

Despite this unexpected dip, some intriguing scenarios emerged, particularly around the Arc stocks ARKK. This stock seems to be holding on solidly, remaining flat where it closed on Friday. There’s a potential for this to develop into an interesting focus area.

Let’s dissect a few stocks I have been tracking and trading.

Toast Inc.

I have been invested in TOAST, and though it’s on a decent level, I urge caution. This stock has heroically buoyed its earnings low since the early days of November and has ascended above its 20 period moving average.

I will be on the lookout for a break of the three-day high to consider reinforcing my position in Toast. As much as it may seem like bottom fishing, it’s indeed a stock in the right sector, hence worth the attention.

Upwork Inc.

I have also been invested in UPWK, and it seemed to fare well this Monday morning. An examination reveals a pattern of it going sideways after earnings while persistently bouncing off the 20-period moving average.

Watch for a break of the five-day high here in UPWK. This stock showcases solidity, promising potential.

Freshpet Inc.

FRPT is another stock to keep an eye on. Earning reports show subsequent sideways movement, ensuring it defends the ten period moving average diligently.

There’s no apparent resistance until it reaches the 73 90 level, a seemingly appealing set up to monitor.

Wrap Up

With the market gapping down, numerous other saving grace stocks are out there. If you have trading ideas sparked from the day’s commotion, definitely keep digging, understanding, and trading. Remember, this blog is a helpful guide, not investment advice; consider your risk appetite and individual financial situation before making a move.

Trading is a discipline requiring mindfulness, intentionality, and a learning mentality. It’s never a straightforward road, often characterized by telephone poles, stoplights, and random wild animals darting across the avenue but keep tethered.

And with that, we wrap up today’s trade ideas. I will connect with you tomorrow.

Keep it tight, stay alert, and as always, happy trading!

Signing off, Andy