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The Perfect Exit
In yesterday’s free video we discussed a critical level in AAPL. Today the level held within $0.03 and made for the perfect exit on our put debit spread. Let’s review the trade and what it might mean for action into Friday.
My Favorite Momo Pattern
In this update, I discuss my favorite momo and reversal pattern, the minor low, and how it will look on TSLA.
How low do we go?
In this video, we look at the continued selling we are seeing, since Powell spoke at the Jackson Hole Summit. The market is factoring in more rate hikes ahead and wrestling with whether we see higher or lower inflation ahead. All of this means that we are very likely to have more volatility in the weeks to come. Lastly, we look at the upcoming dates of economic events for clues to when things might calm down.
The Mid-Week Shuffle
Low for the move made today, mid-week on a Wednesday. Bearish target achieved. Question now remains, was this the low for the bounce to our bullish weekly target? I’ll lay out a plan for you to follow in tonight’s market update.
Talking Tesla
Tesla is a great product for options traders, and based off the way it closed on Wednesday, should at minimum have one more leg lower.
Trend, Prints & Pattern — all the elements I needed for a high probability bet.
LVS just had a 3.4 million share transaction today against a resistance level with a bearish engulfing candle pattern on above average volume. It may just be time to place a bet to the short side.
TSLA has retraced to the zone
This is a follow-up on the TSLA setup from last week and what the setup is now that TSLA has pulled back to the Wave, the regression to the mean that we were waiting on post-split.
Last Week Of Summer
This week we find ourselves opening and trading between two areas of balance. Question is, as always, up or down? I have a twist for this week’s plan that may involve both. Let’s take a look in this week’s plan.
Downside is prevalent, but some bullish strength in commodities
The market continues to sell off From Powell’s hawkish speech Friday. The market won’t just go straight down, but I think we will be seeing new lows over the course of time. That said, there are still some bullish areas if you are interested, but be sure to find your lower risk entry point.
Break on through to the other side
I have been citing the S&P 500 Voodoo fireline at 4083 as an important level to watch in determining if the market will turn back down. After breaking the level on Friday, it remains important as short-term resistance.
