Hi all,

The DOW, S&P, and IWM finished down on the week after a long string of winning weeks. The QQQ did manage a small gain thanks to the TSLA surprise positive earnings report.

A string of disappointing quarterly reports by the constituents of the indexes drove this week's results. 

Bond yields also rose significantly this week on concerns that the Fed rate cut may not be as aggressive as had been expected and that the continued increase in deficit spending may require higher yields in the future to attract demand.

This week is chock full of high-profile earnings reports, including those for AMD, AAPL, AMZN, MSFT, and GOOGL. All these reports will likely cause more volatility.

Some economic events will also be market movers with the PCE and unemployment data. Should be a very interesting week.

Cheers.

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Sectors in Play Last Week

• Consumer Cyclicals and Communication Services were small gainers this week.
• Healthcare and Industrial were the biggest losing sectors for the week.

Key Levels for this Week

• DOW (42,114) – support 41,800 and resistance 43,400
• QQQ (495) – support 485 and resistance 503
• SPY (580) – support 575 and resistance 585
• IWM (219) – support 215 and resistance 225

What to Watch for this Week

• Monday – nada
• Tuesday – 10:00 Consumer Confidence and Job Openings
• Wednesday – 8:15 ADP Employment; 8:30 GDP and  Advance Retail and Wholesale Inventories
• Thursday – 8:30 PCE data and Jobless claims; 9:45 Chicago PMI
• Friday – 8:30 Unemployment report and wages

Earnings this week

• Monday – F post
• Tues – SOFI, PYPL, MCD, PFE pre and AMD, GOOGL, SNAP, CMG post
• Wed – LLY, CAT, HUM pre and MSFT, META, COIN, HOOD, ETSY post
• Thurs – UBER, MC pre and AMZN, AAPL, INTC post
• Friday – FUBO, CVS, XOM, W pre

Positions and Trades Last Week

• ABCL – from watchlist – now long on break out – looking for +$3
• CMG – Reporting this week – I will sell before release.
• CRWD – Long under just $300 and got a nice breakout. Holding rest for a move higher.
• OKLO –Sold the remainder of the position last week. Big winner.
• TD – long now and selling upside calls to collect premium while it likely chops sideways for a while.
• UVXY – out.
• XLU – Sold for a nice gain.

Tracking for Potential Trades

• UVXY – looks interesting for a long next week.

 

Note: These are investments I am in or watching however, they may not be suitable for all investors. The author of this email is NOT an investment advisory service, a registered investment advisor or a broker-dealer and I do NOT undertake to advise clients or recipients of this email on which securities they should buy or sell for themselves. This email is provided for information purposes only and traders should always consult with their licensed financial and tax advisors to determine the suitability of any investment.