Mid Week Updates - The Break Through!

Analysis + Setups

Mid Week Update ✍️ 

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We have traded in range for the most part, and until yesterday, we started to break through some resistance levels. Let’s dive in, but first, our sponsor.

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Table of Content

Context

Wall Street Data

Powell,
“Participants observed that while inflation had eased over the past year, in recent months there had been a lack of further progress toward the Committee’s 2 percent objective,”

Comes off as neutral. Don’t fall into the news trap. Just because the Fed says something and the S&P index goes higher doesn’t mean the statement is “good news.”

For example, NVDA beat earnings and announced a split, but the CEO mentioned a slowdown in China's demand. The details are essential to remember as an investor/trader.

Full Fed Minutes

NVDA 10-1 Split & Earnings Report

What is a split? We covered this here.

What’s coming next this morning?

I am not expecting much. In the previous week, we would have ripped 100+ points off good data, so if it doesn’t, the market may not be as strong as it appears. The NVDA wave could carry the market.

SWS

Market

Tips of the week

  1. Don’t feel like you HAVE to make a move.

  2. Boring investing can be profitable. A boring trader can be profitable.

    • Some months, I make 30 trades; some months, I make 6. If I go 4 for 6, who cares? I made money. The first goal is to make money not “make money fast”

  3. Lotto trades are like gambling. It can always be a coin flip.

    • I only take lotto trades when the price is right.

    • Don't beat yourself up if you missed out on $NVDA. It gapped to $1,000, and a $1,000 call option to be in the trade cost $1,800. So, do you have enough money to risk $1.8k on a lotto trade?

    • Join the Free Chatroom and ask questions!

Over the next couple of weeks, these stocks look interesting.

  • $TSLA

  • $ENPH

  • $PLTR

  • $SNOW

  • $NVDA

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