The SPX ran 500 points in a week and finally tagged my tree line target at $7,768, so a quiet day today was no surprise. The daily squeeze fired and momentum is still pushing higher, which is why I’m treating that sell arrow on the daily candle as a fake out rather than a signal.
SNDK and WDC reported after the close today. If they’re any indication of what’s to follow, it’s probably time for the indexes to come in for a few days.
In this video, I walk through multiple time frames on INTC, and why I am looking at this as a possible discount buy. I discuss several trade ideas, price targets, and my line in the sand to remain bullish.
I just entered a new options position in NVDA. The squeeze has been consolidating for a long time and it is finally showing a shift in momentum to the upside. With earnings on the 26th, the Hot Zone data says this ticker averages about 7% higher during this window. There is real resistance between $215 and $220, but if the squeeze pushes it through, I am looking at $230 to $235 before the report. I bought long calls in the earnings series.
