A Holistic View | 07-09-23
Let’s start this week off with a word of advice for all Market Participants
Trading Notes for the week of 07-09-23
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A Holistic View
We have earnings in $TSLA (19th), $MSFT (25th), and $META (26th) at the end of July. If the market was to rip into the 4530s+ It would make sense for this action to occur at the end of the month with earnings reports trading simultaneously.
It is currently July 9th, so the question is will there be a dip and a rip or a rip into earnings following a ‘sell-the-pop’ movement?
I am personally planning on a dip to rip therefore I am looking at /ES 4370s as a solid support level this week. AM I ALREADY LONG, YES? If this 4370 becomes resistance on a daily close I will not look to add onto bullish positions.
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For new readers, I trade/ES mini futures, but these numbers correlate to the $SPY and $SPX index. If you want to learn more about how I integrate futures trading and options trading read The Power of $SPY
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LINE IN SAND
$TLSA
Will remain bullish with targets into the 350s as long as we are closing above the 260s.
$MSFT
Bullish unless we start closing under 328. Target 360+
$META
Bullish unless we close under 377-80. Target 310+
$SQ
Bullish unless we close under 61. Target 71, 75, 90
NEWS
A piece of important news that supports my long tem bearish outlook is the announcement during the FED MINUTES last Wednesday.
The Feds mentioned:
There is little evidence of inflation being on a path to return to the 2% target over time.
This simply means that if you bypass the volatility in stocks or any positive feedback that has been said all 2023, none of it matters.
The Fed’s goal was 2% and they just told us it will most likely not come anytime soon!
Many investors, traders, and market participants see long-term bullish charts, but eventually, the fundamentals and technicals will tell the same story.
FINAL REMARKS
I am all for risk management so please hedge if you find yourself too long or overweight in any positions.
This is an open journal, not financial advice and all positions are under your control.
More details will come as the week finishes. Alerts will be in premium chat.
Trade safely,
Disclaimer:
This newsletter is not trading or investment advice but for general informational purposes only. This newsletter represents our personal opinions which we share publicly as a personal blog. Futures, stocks, and bonds trading of any kind involves a lot of risks. I guarantee no profit whatsoever, and you assume the entire cost and risk of any trading or investing activities you choose to undertake. You are solely responsible for making your own investment decisions. Owners/authors of this newsletter, its representatives, its principals, its moderators, and its members, are NOT registered as securities broker-dealers or investment advisors either with the U.S. Securities and Exchange Commission, CFTC, or with any other securities/regulatory authority. Consult with a registered investment advisor, broker-dealer, and/or financial advisor. By reading and using this newsletter or any of my publications, you are agreeing to these terms. Any screenshots used here are the courtesy of Tastyworks, Think or Swim, and/or Webull. I am just an end user with no affiliations. This blog's data, quotes, and information are from publicly available sources.