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- Ace in the Hole - Edition #33
Happy Monday Traders!
I hope everybody had an amazing weekend!
Another big week of earnings reports and economic data, so let’s dive in!
Market Thoughts
Since all time highs, $SPY has pulled back a total of 2.79% in the past 2 weeks.
Also the first 2 red weeks since May.
I’m personally still feeling bullish with $SPY holding its weekly 9 EMA and my .382 Fib.
$SPY Weekly
I have no reason to be bearish here. Even if $SPY broke down to that $524.60 area I still think everything would be fine.
Short-Term Setups This Week:
1. $HOOD
$HOOD Weekly
I like this dip down towards the 21 EMA which has been holding up on $HOOD.
I’d like to see this hold $19.74 and retrace back to recent highs.
Under that 21 EMA, my thesis gets invalidated.
2. $UBER
$UBER Daily
I’m liking $UBER at this daily 200 EMA for a bounce to make a higher low at this range.
This ideally needs a decent bounce on Monday to start the week.
Above $64 and I want to be long this name, but if it loses that $64 my thesis would be invalidate.
3. $AMZN
$AMZN Weekly
$AMZN is still holding this 21 EMA on the weekly.
I cannot be bearish until this breaks with momentum.
Earnings coming up on this name as well, so that could be a bit of a catalyst, but I still like this long until the weekly 21 EMA breaks with momentum.
Long-Term Setups This Week:
1. $CELH
$CELH Weekly
I haven’t touched $CELH in a while, but I do think these prices are pretty solid to pick up some shares in the long-term.
For a while I was buying every time this dropped below $50 and it looks like its trying to hold up around $45.
2. $ULTA
$ULTA Daily
$ULTA ended up breaking its daily base to the downside, but I still like these prices for long-term adds.
Not a ton out there for me that I’d be buying at these levels.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Tuesday 10:00 EST, CB Consumer Confidence
Tuesday 10:00 EST, JOLTs Job Openings
Wednesday 9:45 EST, Chicago PMI
Wednesday 2:00 EST, FOMC Statement
Wednesday 2:30 EST, FOMC Press Conference
Thursday 10:00 EST, ISM Manufacturing PMI
Friday 8:30 EST, Nonfarm Payrolls
Trending Sectors
Technology, Healthcare, and Communication Services were at the top of the list for trending sectors last week.
Top trending tickers from last week:
$NVDA
$TSLA
$CRWD
$AZTR
$MSFT
$SERV
$AAPL
$RGC
$GOOGL
$AMZN
Have A Great Week!
I hope everybody trades safe and has an amazing week.
Let’s kill it and make some $$!
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