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- Ace in the Hole - Edition #23
Happy Monday Traders!
I hope everybody had an amazing weekend and had some time away from the charts!
Now it’s time to get back to work!
Last week we saw $SPY make new all time highs, gaining 1.65%.
We are back in price discovery mode with $SPY and $QQQ.
Market Thoughts
I am a few thousand dollars away from making it my biggest month trading ever, so I personally will be taking things easy on this back half of the month.
I continue to play opportunities that have high probability and buying lots of time on my contracts which has paid off tremendously.
$NVDA earnings this week should be eventful. I’m personally expecting them to beat, but of course anything can happen.
We also have a lot of FED speakers this week and some data points coming out, so watch out for volatility at these times.
Short-Term Setups This Week:
1. $AAPL
$AAPL 4 Hour
I’m liking $AAPL on this dip to the 4 hour 21 EMA.
This is the second pullback since the impulsive run it has started.
As long as this holds $188, I want to be long.
This is likely to be a play for the beginning of the week, but that can change.
2. $ENPH
$ENPH Daily
I’m still watching $ENPH in this consolidation.
It is getting a dip to the daily EMAs and I would like to see it hold and start making moves higher.
As long as this is above $113, I want to be long.
Be aware, this name is known for fakeouts.
3. $TSLA
$TSLA Daily
$TSLA has been consolidating after this gap fill.
It had a decent day on Friday, but I want to see continued momentum to the upside after making that higher low on the daily.
As long as this is over $171.50, I want to be long.
Ideally, we get a higher high break and head towards $187 resistance.
Long-Term Setups This Week:
1. $ENPH
$ENPH Daily
$ENPH can really go either way when it finally does break this consolidation.
I think it will be up, but I could of course be wrong.
I personally added shares to the long-term last week and will continue to hold them as long as $ENPH is above $100.
Be aware that his can continue to chop in this range for as long as it wants to.
2. $ULTA
$ULTA Weekly
$ULTA is coming into some previous support and I’m interested to see if it holds.
I think this could be a good spot to get some more shares, but I might wait to see if it holds that $368 low.
If it does, I might add some more shares to my portfolio.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Wednesday 10:00 EST, Existing Home Sales
Wednesday 10:30 EST, Crude Oil Inventories
Wednesday 1:00 EST, 20-Year Bond Auction
Wednesday 2:00 EST, FOMC Meeting Minutes
Thursday 8:30 EST, Initial Jobless Claims
Thursday 9:45 EST, S&P Global Services PMI
Thursday 10:00 EST, New Home Sales
Trending Sectors
Technology was the leading sector last week in the market.
Top trending tickers from last week:
$AVGO
$JPM
$LLY
$V
$XOM
$JNJ
$HD
Have A Great Week!
As always, enjoy the week, trade safe, and let’s make some $$!
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