- Ace in the Hole
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- Ace in the Hole - Edition #42
Happy Monday Traders!
I hope everybody had an amazing weekend and got some time away to relax.
Last week was really uneventful for the S&P 500.
We rose 0.57% and basically chopped back and forth all week.
We have a big week ahead of us with some data coming out throughout the week as well as Non-Farm Payrolls on Friday, so it should be an interesting week!
Let’s jump into it.
Market Thoughts
Even with market being slow at all time highs, I am still very bullish.
Again guys, until I see something that is actually telling my bearish, why am I going to try and fade this massive strength?
Makes no sense.
I won’t be the guy to pick top, but when it is time to flip I will be ready.
That time is not now.
I will continue to play bullish until it stops working and scalp short-term pullbacks with futures.
Short-Term Setups This Week:
1. $COIN
$COIN Monthly
$COIN has been consolidating for a while now, but IMO looks very good here off of the monthly 21 EMA.
As long as this is holding that EMA, I see no reason to be scared out of long positions.
I’m not long yet, but will very likely get long this week.
2. $MSFT
$MSFT Daily
$MSFT is backtesting previous highs and the daily 21 EMA.
I’m interested to see if that holds, but I wouldn’t be mad if we had to go slightly lower into that $415-$410 area to make another higher low.
Either way I’ll keep eyes on it and if we are getting big buys off of the 21, I might just take it there.
Long-Term Setups This Week:
1. $ULTA
$ULTA Weekly
You guessed it, $ULTA again lol.
Sitting in the same spot, but looking good here for more adds IMO.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Monday 9:45 EST, Chicago PMI
Monday 1:00 EST, Fed Powell Speaks
Tuesday 9:45 EST, S&P Manufacturing PMI
Tuesday 10:00 EST, JOLTs Job Openings
Thursday 8:30 EST, Initial Jobless Claims
Thursday 10:00 EST, ISM Services PMI
Friday 8:30 EST, Non-Farm Payrolls
Trending Sectors
Technology, Utilities, and Consumer Staples were at the top of the list for trending sectors last week.
Top trending tickers from last week:
$NVDA
$TSLA
$MU
$AAPL
$BABA
$INTC
$META
$AMD
$AVGO
$PLTR
Have A Great Week!
As always, enjoy the week and trade safe everybody.
Let’s make some $$!
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