Happy Monday Traders!

I hope everybody had an amazing weekend!

Last week was pretty crazy with all the downside in the market.

The $SPY fell 3.07% last week and is now down 5.61% from all time highs.

Market Thoughts

I’ve been pretty bearish over the past week, playing a lot more puts than I was a week ago.

I’m still thinking we fall more on $SPY, but we’ve had some big moves in the market over the past 2 weeks.

With that, I think it’s very possible we get a bounce and chop a bit this week around that $500 level.

Ultimately I think we pull back to previous all time highs around $480.

Short-Term Setups This Week:

1. $CVNA

I’ve been playing a lot of puts on $CVNA over the past week, but I think it wants more downside.

I have this gap from $66.50 to $53.33 which I think $CVNA will fill.

I’m watching for a bounce closer to my daily EMAs to get my put position.

If it does start trading in the gap, I’ll be watching the $60 level for a possible bounce.

The most I want to see this bounce is into $74.27 which is a previous low of support now resistance.

This would mean it pops above the 4 hour 200 EMA and fails it for a bit of a fake out breakout.

Above $77 and my thesis will be invalidated.

2. $UBER

$UBER is interesting here.

I’ve been playing puts on this name over the past week, but now it is hitting its weekly 21 EMA.

It also just filled this gap down to $69.55.

I’m interested to see if we bounce here and go for the next leg up in the trend, so I’m going into this week on $UBER with a more bullish mindset.

Under $66.70 my thesis would be invalidated.

Long-Term Setups This Week:

1. $CELH

I am personally loving $CELH here to add shares into my long-term portfolio.

I’ve always gotten my shares under $50, but I don’t know if we will see those prices again.

Pulling back to my .618 fib on the daily which I think holds.

This might be the time that I actually start buying some shares over $50 as this is a very healthy pullback from the highs.

TRACK ALL OF MY LONG-TERM INVESTMENTS HERE:

Earnings Calendar

Economic Calendar

These data points are known to bring volatility during the intraday:

• Tuesday 9:45 EST, S&P Global Service PMI

• Tuesday 10:00 EST, New Home Sales

• Wednesday 10:30 EST, Crude Oil Inventories

• Thursday 8:30 EST, GDP

• Friday 8:30 EST, PCE

FULL ECONOMIC CALENDAR:

Trending Sectors

Technology and Utilities were trending most this past week. Technology had a decrease of over 7% while Utilities had a positive performance of almost 2% higher.

Most trending tickers from last week:

1. $PG

2. $ORCL

3. $MRK

4. $ADBE

5. $TM

6. $MSTR

Have A Great Week!

I hope everybody trades safe and makes some $$!

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