- Ace in the Hole
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- Ace in the Hole - Edition #49
Happy Monday Traders!
I hope you enjoyed the time off this weekend. We got a BIG week ahead with Nvidia earnings and a decent amount of economic data.
I expect a decent amount of volatility and craziness, so let’s dive right in!
Market Thoughts
All time highs are some of the toughest to trade when trying to capitalize on intraday price action. It’s generally very back and forth with little volatility making it hard to catch fast aggressive moves.
I’m still very bullish on this market, but tend to focus on other names outside of the general markets when we are trading up here.
Overall I expect a good earnings from Nvidia, so I do think we see the market continue higher, but we will see!
Short-Term Setups This Week:
1. $COIN
$COIN Daily
I like Coinbase long as long as we are holding Friday’s high. Any retest of that level is a long entry in my opinion.
Under that and my long trigger gets invalidated.
2. $TSLA
$TSLA Daily
Tesla had an inside day on Friday and is opening strong this morning. Any retests of Friday’s high is a long trigger for me.
Under Friday’s high and my trade is invalidated.
3. $UNH
$UNH Daily
If we get under Friday’s low on $UNH, I like it short for the gap fill. If we get a move over Friday’s high and hold, I like it long.
Targets would be $603.06, $606, 613.
Long-Term Setups This Week:
1. $UNH
$UNH Weekly
I still like $UNH for potential adds on this dip, especially if we fill that gap I was talking about on the short-term picks.
I’ve noticed very strong buying every time this tries to make a leg down.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Thursday 8:30 EST, Initial Jobless Claims
Thursday 10:00 EST, Existing Home Sales
Friday 9:45 EST, Services & Manufacturing PMI
Friday 10:00 EST, Michigan Sentiment
Trending Sectors
Consumer Discretionary, Financials, and Technology were at the top of the list for trending sectors last week.
Top trending tickers from last week:
$TSLA
$ASTS
$LUNR
$NVDA
$SMCI
$RKLB
$BABA
$AMAT
$PLTR
$MSTR
Have A Great Week!
As always, enjoy the week and trade safe everybody.
Let’s make some $$!
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