- Ace in the Hole
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- Ace in the Hole - Edition #31
Happy Monday Traders!
I hope everybody had an amazing weekend.
We have a week full of earnings and economic data, so plenty of catalysts for some volume to come through.
Let’s jump right in!
Market Thoughts
$SPY continues to perform and make new all time highs every week.
This won’t happen forever, but until the chart gives me a reason to be bearish I will continue to play to the long side.
I do think a pull back to at least the daily 9 EMA would be healthy or a consolidation period.
Short-Term Setups This Week:
1. $MSFT
$MSFT Daily
$MSFT is in a beautiful uptrend pulling back to its 21 EMA.
I really like longs off of this 21 EMA for a move back to the highs and potentially a breakout.
If this gets trading under that 21 EMA I wouldn’t be long.
2. $AMZN
$AMZN Daily
$AMZN has a similar pullback to its 21 EMA and I’m thinking I would play this the same way.
Under the 21 EMA this starts to get sketchy, but as long as it is holding that I like the longs here.
3. $COIN
$COIN Daily
$COIN is consolidating over its weekly 21 EMA.
As long as this holds I think this is setting up for a big move up.
Under that 21 EMA I would NOT be long.
Long-Term Setups This Week:
1. $DIS
$DIS Weekly
There isn’t much out there that I personally see myself wanting to add to here because everything has been flying.
$DIS is on a decent dip down under $100 which I think are some decent prices to pick up some shares in the long-term.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Monday 12:30 EST, Fed Chair Powell Speaks
Tuesday 8:30 EST, Retail Sales
Thursday 8:30 EST, Initial Jobless Claims
Trending Sectors
Healthcare, Utilities, and Real Estate were trending last week with some decent performance.
Top trending tickers from last week:
$NVDA
$TSLA
$DJT
$AVGO
$AAPL
$AMZN
$MSFT
$DATS
$AMD
$TSM
Have A Great Week!
As always, trade safe and enjoy the week!
Let’s make some $$!
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