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- Ace in the Hole - Edition #28
Happy Monday Traders!
I hope everybody enjoyed the weekend and is ready for another week!
I am personally on vacation and won’t be super in tune with the market, but I wanted to put out my newsletter anyways and give you guys some setups I’m watching.
We have a big week ahead of us, so let’s get into it!
Market Thoughts
Similar to the past 2 weeks I’m still feeling bullish but cautious on this market.
$NVDA has only dipped to the daily 9 EMA and not currently breaking trend.
I still think that a healthy dip is due, but we’ll see.
$SPY had a pretty uneventful week, only up 0.32%.
Short-Term Setups This Week:
1. $SHOP
$SHOP Daily
I’m personally long $SHOP already off the daily 21 EMA, but I think it will continue back to recent highs and hopefully breakout.
Would like to see this fill its gap back to the upside, but for now I'm targeting those recent highs and will hold a portion for a breakout.
This gets invalidated under $63.
2. $COIN
$COIN Daily
I’m starting to like this $COIN dip towards $220.
I have alerts lower because I do think its possible to dip a bit lower, but if we start getting momentum from here I will likely take a position.
$COIN Weekly
I personally would like to see this tap the weekly 21 EMA.
I think that would be a better risk/reward for me and I would feel more comfortable about it.
Long-Term Setups This Week:
1. $ULTA
$ULTA Daily
I’m still liking $ULTA at these levels for a long-term play.
It’s basing around that $377 and I personally have started a position here recently.
Economic Calendar
These data points are known to bring volatility during the intraday:
Tuesday 10:00 EST, CB Consumer Confidence
Wednesday 10:00 EST, New Home Sales
Thursday 8:30 EST, GDP
Friday 8:30 EST, PCE
Friday 9:45 EST, Chicago PMI
Trending Sectors
Energy, Utilities, Financial, and Industrials were at the top of the list for trending sectors last week.
Top trending tickers from last week:
$SRPT
$GILD
$KMX
$CLOV
$ONON
$MINM
$SPEC
$ZEAL
$QS
$AREB
Have A Great Week!
As always, enjoy the week everybody and trade safe!
Let’s make some money $$!
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