- Ace in the Hole
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- Ace in the Hole - Edition #41
Happy Monday Traders!
Last week was another phenomenal week of trading with the S&P 500 hitting new all time highs of $572.88, up 1.11%.
Not much else to say other than the bull thesis is still valid and I will continue to play that way until this market gives me a real reason to be bearish.
Market Thoughts
Higher lows and higher highs is all I see on this chart.
$SPY Weekly
Until I see this chart making lower highs, I’m not at all concerned with how the trend is going.
The only shorts I’m currently taking in this market are futures scalps. I am not swing short this market at all.
Short-Term Setups This Week:
1. $MSTR
$MSTR Weekly
$MSTR has been in some beautiful consolidation on the weekly.
This can be really tough to sit in, but at some point it will make a move.
I think that move will be pretty massive, given how long this name has been in consolidation.
I definitely think its worth having on your radar, especially at these levels.
2. $AAPL
$AAPL Weekly
I also really like this $AAPL consolidation on the weekly.
I am already long this name in calls and I wouldn’t say this is the best risk/reward for an entry, but I do like it for continuation.
I’m looking to see my $240 calls go in the money.
Long-Term Setups This Week:
1. $ULTA
$ULTA Weekly
$ULTA still sitting relatively in the same spot and I still like it here.
I haven’t personally added any more shares quite yet, but I do have a position in down here.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Monday 9:45 EST, S&P Global US Manufacturing PMI
Tuesday 10:00 EST, CB Consume Confidence
Wednesday 10:00 EST, New Home Sales
Thursday 8:30 EST, GDP
Friday 8:30 EST, PCE
Trending Sectors
Real Estate, Industrials, and Healthcare were the top trending sectors from last week.
Top trending tickers from last week:
$NVDA
$AAPL
$TSLA
$AMD
$MSFT
$GOOGL
$META
$AMZN
$PLTR
$SMCI
Have A Great Week!
As always, enjoy the week and trade safe everybody.
Let’s make some $$!
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