Hello traders,
Hope you had a great weekend.
Last week was an interesting week with respect to price action. As stated in last week’s plan, we did have a soft CPI and market reacted fantastically by going up to 4560 and then finally ran out of steam.
That being said, I(my algorithms are a part of me by law) believe market is very close to forming a short term top and we should see a retracement soon unless of course we get materially important news about “soft landing”.
Recap of selected levels and trades from last week
I would be remiss if I did not mention my stopped out trades.
I do not have a 100% winrate and I’m completely okay with it.
Moving on,
This week we kick off the large cap earnings
Rest of the major banks report along with TSLA 0.00%↑ and NFLX 0.00%↑
As usual, trading ERs is a tossup however, I’m not too bullish on Netflix and neutral on Tesla.
Last week the Cash secured puts on JPM 0.00%↑ expired worthless as shared in the weekly plan .
Weekly Plan 7/10
Hello traders, Short plan this week as most of my trading this week will be based off the CPI print. Welcome to Summer slowless. VIX gets stuck in low teens, 2y/10y keeps inverting and crude oil keeps chugging on. Main event of the week is CPI and here are my thoughts for it.
Weekly levels: