We have finally gotten our pullback in the market. The S&P 500 (SPX) ended the week strong on Friday, reaching around $4,450.
Right now, the most significant set up in the market is Apple (AAPL). AAPL currently has a monthly squeeze with a buy signal. If everything goes according to plan, look for a possible push towards $225. This move may push the market higher and give us more upside opportunities.
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The weekly squeeze on the S&P 500 (SPX) fired 4 weeks ago. Usually, a weekly squeeze could give 6 to 8 or even 10 weeks of momentum.
The SPX daily chart is beginning to revert to the mean and converted to a Big 3 neutral signal.
In the video below, I’ll walk through what I’m looking for on the SPX and QQQ and review my recently opened and closed positions.
Get Taylor’s Big 3 indicator and quickly identify trend changes and A+ setups here.
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Taylor Horton
With the weekly bull-squeeze on the S&P 500 ($SPX) finally firing long, the bulls were able to break price above the $4,300 level this week. As things are extended, there is always the potential for a reversion-to-the-mean pullback right around the corner. However, until proven wrong, I will view any dip as a buying opportunity, thinking that this weekly squeeze can take the $SPX to $4500 and potentially higher from here.
My trading computer took its last breath today, so I could not make a video. I’ll be back up and running next week with a new computer! Remember that the market is closed on Monday, so there is no newsletter.
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Multiple squeezes on the S&P 500 (SPX) have fired to the upside. At the end of the day on Monday, the SPX hit the August highs (as we reviewed in last week’s newsletter). This is a big level to start a busy week of economic events that could shake up the market.
In the video below, we’ll review the scenarios we could see play out on the SPX and the setups on my watchlist including ZM, SHOP, GOOGL, and more.
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This week, there was significant progress in the weaker parts of the market. If small caps can wake up and the market gets better breath alongside tech stocks’ leadership, we may see the S&P 500 ($SPX) head higher into the summer.
In the video below, I dive into my latest trade on Tesla, where I profited from a 50% return. So far, my small account is up 560% in just three weeks!
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The goal with having my Big 3 Indicator and signals, plus using the squeeze, is to try and find the moment where everything is locked and loaded. That is the most challenging part about trading, being patient for the moment when everything is coming together. Lately, I have a zero-tolerance policy for a stock to do anything more than it’s supposed to do and have been cutting my losses short to move on to the next setup. In today’s video, I review my recent trade on Microstrategy ($MSTR) and a few other setups I’m looking at this week.
The S&P 500 tested the big $4,300 level on Monday. The next key level to look out for is the August high around $4,325.
Right now, the path of least resistance appears to be to the upside. SPX is printing a handful of Big 3 buy signals on the weekly, daily, 4-hour, 2-hour, and 1-hour charts. The weekly squeeze officially fired to the upside on Monday. Based on the power of the nested squeeze, there is a strong chance that the SPX could break through that level and break higher.
The key is if the SPX can break through $4,300 on its first try. In the video below, I review where I would buy SPX and NFLX on a pullback. I’ll also review the new position opened on Monday in the Compounding Growth Mastery.
Position Update: We managed our risk and cut our MSTR trade last week for a small loss. Remember, we want to minimize our losses and maximize our wins.
Check it out:
$MSTR we cut our put credit spread for a small loss here. Under daily 21EMA with B3 sell signals on lower time frames is NOT how a stock should behave before a big move higher. Might get "shaken-out", but my preference is manage risk first, and then jump back in if things improve pic.twitter.com/LjRKJfriyX
— Taylor Horton (@taylor_horton24) June 2, 2023
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This week, I took a Micro Strategy (MSTR) trade with my Compounding Growth Mastery members for a slight loss. The challenging part about trading is being patient for the moment when everything is coming together.
I have learned that I have a zero-tolerance policy for a stock to do anything more than it’s supposed to do. If the stock isn’t behaving, you shouldn’t play the game of hopium.
Stay focused!