Weekly Plan 5/14

Debt Ceiling Drama

Hello traders,

We are back for another week of the Season 23 of “Trading the range: Who will blink first”

Will the US default on its debt?

I don’t think so. If the US defaults, then it will cause cascading effects on markets.

Earnings:

Lot of Asia names reporting this week with Baidu, BABA and Sea being the promient ones. The recent run up on these names can turn the earnings into a “sell the news” event. I will keep y’all updated on Telegram if I would enter any of these names.

Moving on,
Last week we saw more compression on the S&P and Nasdaq.