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- Ace in the Hole - Edition #21
Happy Monday Traders!
I hope everybody had an amazing week!
Last week was crazy with FOMC and NFP, but we get a little break from economic data this week.
Last newsletter post I said I had my best week in the market this whole year.
I then proceeded to beat that week this last week and I couldn’t be happier.
Let’s get into the new week!
Market Thoughts
$SPY Daily
In terms of $SPY, I think we are at a make or break spot.
We are right at the spot where shorts can step in and bring another leg down.
Even if we don’t and this ends up being a dip buy situation, I still think we need to dip down from here.
So I am expecting a dip from here and am waiting to see whether or not bulls step in on the way down.
Either way, I will always play what’s in front of me, so we’ll see what happens!
Short-Term Setups This Week:
1. $ENPH
$ENPH Daily
I’m very interested in $ENPH here. It’s been consolidating since December of last year and I think it’s time to pick a direction.
I personally think the direction will be to the upside, but of course this can truly break either way, so you want to be ready for both.
$ENPH Weekly
As long as this holds above $102 I’m bullish. I would love to see this make a move towards $135 resistance and see if it can break through.
If it can make a higher high above that resistance, I think this hits $150.
2. $CELH
$CELH Weekly
I still love $CELH for longs at these prices. Areas of concern right now are my weekly 9 EMA at $76.28 and my .382 fib at $79.94.
I’m open to $CELH needing a dip before it goes and tests my fib, so as long as this holds $70 I will remain bullish.
Long-Term Setups This Week:
1. $TSLA
TSLA Weekly
$TSLA is looking very interesting here. I’m wondering if this is finally the bottom or not.
Prior to last week it had a beautiful week to the upside which put in a strong candle.
$TSLA Yearly
It has gone down and tested the yearly 9 EMA and held like I thought.
There seemed to be big buyers when we got down there, so I’m feeling pretty confident that this could be near bottom for $TSLA.
Either way I think it’s a solid add at these prices and I will likely pick up some more this week.
2. $CELH
$CELH Daily
Same as last week, I still love these prices for $CELH especially if you already have shares around $50.
3. $ENPH
$ENPH Daily
I’m thinking of starting a long-term position in $ENPH before this consolidation breaks out or down.
Since I personally think the break will be to the upside, I’d like to pick up some shares and hold them as long as we hold $100.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Wednesday 10:30 EST, Crude Oil Inventories
Thursday 8:30 EST, Initial Jobless Claims
Trending Sectors
Biotech, Internet Retail, Semiconductors, and Internet Content were top trending sectors last week.
Most trending tickers from last week:
$AVGO
$JPM
$LLY
$V
$XOM
$JNJ
$HD
Have A Great Week!
As always, enjoy the week me beautiful people and let’s make some $$!
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