Weekly plan 7/16
Bias kills
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 levels:
