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TRADE PLAN for Thursday 📈
$SPX tried to breakout above 7500 again today but failed. SPX Needs a daily candle close above 7500 to set up for 7600+ after FOMC next week.
SPX July 23 7520C is best above 7500
$SNDK winding up for a move back to 1800. For tomorrow wait for SNDK to back test 1600 then look at calls for a push back up to 1670-1700
SNDK July 24 1800C is best above 1600
$NVDA reclaimed the key support level at 212 today. NVDA to 220 in play as long as 212 holds over the next 2 days.
NVDA July 31st 220C can work above 215
Good luck tmrw everyone!! 🫡
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Every morning before the market opens, I check futures first.
What happened overnight? Trending or consolidating?
Then I:
- check economic events like FOMC, CPI, earnings
- mark 3-5 clean levels on the daily and weekly
- build a watchlist of 3-4 names
Takes about 30 minutes.
Been doing this every morning at 4:30am for 16 years.
By the time market opens I know exactly what I'm waiting for.
Your trades are only as good as your habits.
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You see $MU and $SNDK, both showing lots of strength even with $SPX $QQQ lower this morning. Let's see MU back to 1000 and SNDK over 1600 soon
Chip stocks also being bought up today, AMD to 600 in play, $ARM to 300, $MRVL to 240 can come
GOOGL earnings coming up afters hours today...
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TRADE PLAN for July 22nd 📈
All eyes on $GOOGL earnings tonight. If there's a positive reaction we can see $SPX and $QQQ reclaim yesterdays highs. $SPX needs to get back above 7500 to look bullish again. Watch to see if the dip. gets bought up today.
$MU down almost 40 premarket, as long as 900 holds we can still see 1000 again by next week. Calls can work above 930
$SNDK very volatile, down 150+ from after hours highs yesterday, If it holds near 1500 it can push back up towards 1600-1650 again. Calls can work above 1500 for today.
Expect another volatile day. Good luck everyone!! 🫡
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