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- Ace in the Hole - Edition #43
Happy Monday Traders!
I hope everybody spent some time away from the charts and had an amazing weekend.
We have a busy week ahead with data, Fed Speakers, and earnings. Let’s jump right into it!
Market Thoughts
$SPY had another uneventful week with a total gain of 0.26%. These past weeks have been tough in terms of price action.
We have stayed in a range for the past 2 weeks which makes trading definitely more difficult.
I would like to see this market get out of this range and start trending again, but I also could see this going for another week.
I’m still bullish on this market, but won’t hesitate to short intraday with futures. I still will NOT swing short on this market.
If we continue to range, I will continue to play smaller and take profits quicker. If we can get trending that would be better, but either way I will adapt with the market environment.
Short-Term Setups This Week:
1. $GOOGL
$GOOGL Daily
Google is testing August NFP High and I really like the way it looks here.
As long as this holds $164.67, I think this breaks August NFP High and makes a move to $170 and then $174.
Under $164 my thesis is invalidated.
2. $COIN
$COIN Daily
Coinbase is making a higher low on the daily off NFP levels after a nice impulsive move up from the previous week.
I’m personally buying up this dip on $COIN and as long as this holds $155, I will still like it.
3. $TSLA
$TSLA Daily
Tesla has its Robotaxi event on Thursday this week. This could be a massive catalyst for some movement here.
I’m personally long and have been long since the lows, but I’m looking for Tesla to break these weekly highs and see $280-$300.
Earnings in a few weeks as well!
Long-Term Setups This Week:
1. $ULTA
$ULTA Daily
Yes, Ulta is still an add IMO.
Keep on keeping on with this one lol.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Wednesday 2:00 EST, FOMC Meeting Minutes
Thursday 8:30 EST, Initial Jobless Claims
Thursday 8:30 EST, CPI
Friday 8:30 EST, PPI
Trending Sectors
Energy, Real Estate, and Utilities were at the top of the list for trending sectors last week.
Top trending tickers from last week:
$NVDA
$TSLA
$BABA
$AAPL
$NIO
$META
$JD
$NKE
$PDD
$SPY
Have A Great Week!
As always, enjoy the week and trade safe everybody.
Let’s make some $$!
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