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- Ace in the Hole - Edition #38
Happy Tuesday Traders!
I hope everybody enjoyed the long 3 day weekend!
Usually these short weeks I play a little more chill, but we’ll see what opportunities arise.
Let’s dive in!
Market Thoughts
$SPY has been consolidating just under all time highs.
I personally think we see new all time highs soon, I am NOT thinking that this will be a lower high or a double top.
Why?
Because, look at what the market has done all year.
$SPY Daily
You really want to be the one to pick top?
I don’t.
I will follow the sentiment of us making higher highs and higher lows until $SPY proves me otherwise.
Short-Term Setups This Week:
1. $AMD
$AMD Daily
Over $145 on $AMD and I like the longs for a move up to my July NFP low at $164.02
Under $145 would invalidate my thesis here.
2. $MSFT
$MSFT Daily
As long as this is above $410, I like the long to recent highs at $27 and potentially into $436.
Under $410 would invalidate my thesis.
3. $TSLA
$TSLA Daily
As long as $TSLA is trading over that $205 I still like it long up to $225 and potentially July NFP low at $242.46.
Under $205 would invalidate my thesis here.
Long-Term Setups This Week:
1. $ULTA
$ULTA Weekly
I still like $UTLA at these prices after earnings here to pick up some shares in the long-term portfolio.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Tuesday 10:00 EST, ISM Manufacturing PMI
Wednesday 10:00 EST, JOLTs Job Openings
Thursday 8:30 EST, Initial Jobless Claims
Friday 8:30 EST, Nonfarm Payrolls
Trending Sectors
Consumer Staples, Energy, and Real Estate were the top trending sectors last week in the market.
Top trending tickers from last week:
$NVDA
$AAPL
$INTC
$TSLA
$MSFT
$AMZN
$AMD
$SMCI
$PLTR
$AVGO
Have A Great Week!
I hope everybody trades safe and follows their plan.
Let’s make some $$!
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