The Song Remains the Same
Not much has changed since our last update but let’s take a look at what we do and don’t like about a few tickers. Honestly I think I am most excited about Corn though.
Not much has changed since our last update but let’s take a look at what we do and don’t like about a few tickers. Honestly I think I am most excited about Corn though.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Inside week on the indexes doesn’t give a lot of clues, but there were some improvements in structure from the outside in. The bulls still want 4300 SPX, so let’s review what they have and what the bears want to take back.
Yep, Dad jokes for all, but let’s talk about the structure and momentum that crude has developed for what I think is the trade of the Summer: long energy.
In this video I discuss why I think crude is about to take off; this video is rich with different supporting arguments for energy going higher.
The 20:1 split in AMZN shares will require all Fibonacci levels to be redrawn on Monday once charts are adjusted. The latest Voodoo Lines update already has the levels I’ll be watching because they’ve been working so well in this name.
There’s only one day left to trade Amazon pre-split, but in good news, split moves generally continue post-split. Check out the levels I’m targeting, and how I’m setting up my options trades via bullish butterflies.