In the video above, we’ll review how CPI affected /ES and introduce potential options trading setups on our watchlist, including SHOP, TSLA, and FSLR. We’ll also lay out key levels ahead of the PPI report and Jobless Claims reporting Thursday morning before the bell.
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Another week of earnings is ahead of us. Notable earnings this week are Coinbase (COIN), Roblox (RBLX), and Trade Desk (TTD), which report on Tuesday. As far as economic news, the Core Consumer Price Index (CPI) will be reported on Wednesday at 8:30 a.m. Eastern, followed by the Producer Price Index (PPI) and Jobless Claims on Thursday morning.
I’ll be live in the Simpler Day Trading room this week to cover the market open. Tune in to trade these setups with me live and look for more potential opportunities in the market: https://bit.ly/39wgIEF
Another week of earnings is ahead of us. Notable earnings this week are Coinbase (COIN), Roblox (RBLX), and Trade Desk (TTD), which report on Tuesday.
As far as economic news, the Core Consumer Price Index (CPI) will be reported on Wednesday at 8:30 a.m. Eastern, followed by the Producer Price Index (PPI) and Jobless Claims on Thursday morning.
Last week, Tesla’s 3-to-1 stock split was approved and is going to effect on August 25th. Keep an eye out for potential opportunities as we head closer to that date.
COIN had news last Thursday of its partnership with Black Rock. This caused a good move in the stock, so pay attention to Tuesday’s earnings report.
Last week the S&P 500 (/ES) sat at $4,100 and hit a low of $4,081. On Monday, /ES rallied back to $4,153. Nvidia (NVDA) reported a large miss in earnings, missing the mark by $2 billion and causing /ES to drop below $4,153.
If the /ES starts to break down, our first target is $4,100 and then $4,081.
If /ES continues to fail, it could revert to the mean and bring /ES to $4,032. If /ES gets back through $4,188, our next target is $4,212. Let’s see if the /ES holds structure and finds its feet.
Keep an eye on the structure of Nasdaq-100 futures (/NQ). With NVDA news, /NQ has worked its way back to $13,150. Our next key level is around $13,025.
If /NQ finds its feet, it could head back toward its Point of Control (POC) at $13,271.
Here is our focused list:
I’ll be live in the Simpler Day Trading room this week to cover the market open. Tune in to trade these setups with me live and look for more potential opportunities in the market.
Stay Focused!
We’re zooming out to the monthly chart to identify our edge.
The AAPL monthly chart is printing a buy signal. Until that buy signal disappears, the odds are in favor of the squeeze firing to the upside. This could push AAPL and TSLA to +2 to 3 average true range (ATR) and to new highs.
We’ll need a reset in the market to stack the probabilities in our favor. We’re looking for the SPY and QQQ to pull back near their 21 exponential moving averages (EMA).
In the video above, we’ll list names on our focused list, identify our ideal entries, and analyze the inverse chart of the SPY.
Stay Focused!
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BIG 3 INDICATOR VIDEO: https://youtu.be/SaZCTk50Y0c
The markets finished the week relatively neutral. There are setups that fit the bill of our “buy the dip” checklist like ZM and CHWY. The issue is the SPY and QQQ are slightly oversold.
While CHWY and ZM are not oversold, we know that “as goes the market goes the stocks”. Our best bet is to wait patiently for a pullback.
The ideal time to take these trades is when the SPY and QQQ pull back to the 21 exponential moving average (EMA) and are set up to move to 2+ average true ranges (ATR).
In the video above, we’ll review the SPY and QQQ and introduce setups on our watchlist.
Stay Focused!
The bulls are in control ahead of the major catalysts on Friday.
The first week of August has been a relatively steady week for the markets. On Thursday evening, we’ll hear the results from the Tesla shareholder meeting on the TSLA 3 to 1 stock split.
On Friday, the Nonfarm Payroll (NFP) report will be released, which could be part of the reason for a “calmer” week. The Senate will also vote on the $7,500 EV credit before the end of the week.
There are major key levels on the S&P 500 (/ES) now that the market is rallying to larger ranges. These levels have caused major pivots in the overall market.
As long as the /ES stays above last Friday’s low near $4,081, we anticipate the bulls will stay in control. The daily Ichimoku Cloud is showing a flatline level around $4,074, which we’ll use as a line in the sand. We can use this mini zone from $4,074 to $4,081 as a level of support for the bulls.
In the video below, we’ll lay out the road map for the next week and review setups on our focused list including SHOP, AMZN, and TSLA.
Join me live in the Simpler Day Trading room this week to cover the market. To trade these setups with me live and look for more potential opportunities in the market, click here!
Stay Focused!
In the video above, we’ll cover a few catalysts this week, I’ll share my focused list, and we’ll review a few setups I’m watching to finish the week strong. The main event we’re focusing on is the Nonfarm Payroll reports (NFP) on Friday. We are also keeping an eye on the TSLA shareholder meeting on August 4th as they vote on a 3:1 stock split. Some names on our trading focused list that we’ll cover are AMZN, SHOP, TSLA, and ROKU.
August is starting with earnings and ends the week with Non-farm payroll (NFP) on Friday. Our main focus is AMD earnings on Tuesday after market close. We’re also keeping our eyes on the Tesla (TSLA) shareholder meeting on Thursday as they vote on a 3-for-1 stock split. In the videos below, we’ll discuss how NFP can shake up the market, break down the structure on /ES and VIX, and dive into our focused list setups, including TSLA and SHOP.
Earnings & Economic Events
Market Overview (/ES, /NQ, VIX)
Focused List: (GOOGL, AMZN, NFLX)
Join me live in the Simpler Day Trading room this week to cover the market. To trade these setups with me live and look for more potential opportunities in the market, click here!
Stay Focused!
Monthly squeezes can pack a punch! And for now, my Big 3 criteria suggests the monthly squeezes in TSLA + AAPL want to fire to the upside ⬆️
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