Big SPX Move + 2 Trade Setups
Today we have a big development.
A key level of the SPX has just been breached.
This hasn’t happened in over a year…
And I go over exactly why it’s important for trading in today’s video.
Plus I have two fresh trade setups for you.
Click the image below to watch.
YOUR ACTION PLAN
Here are today’s two new setups…
World Wrestling Entertainment (NYSE: WWE) is consolidating under the previous high of $100. With recent positive news and now a great 78-minute chart setup, I like this as a long. In the video, I disclosed that I already have a few contracts of the January monthly $90 calls, and then I recommended the February monthly $90 calls as well. I am looking for a move out of the current pattern up through $100. I’d like to buy between $88 and $90, stop under $85 and target a move over $100. WWE has 17% short float, so if this gets some volume next week, it could get interesting pretty quickly.
With Reata Pharmaceuticals (Nasdaq: RETA), we don’t have the typical TPS setup because there is no trend. However, this is a great basing pattern that has been developing for over a year, and now there is a big squeeze with a “shelf top” and higher lows being made every time the price dips. I think a short squeeze higher could be coming, and I’d look to buy the February monthly $40 calls on a pullback to around the $35 level. I’d use a move under $33 as my stop and target a move over $50. This name also has over 27% short float, so if the “base highs” are tested, this could squeeze shorts very quickly.
P.S. If you have any questions about these trade setups, feel free to shoot me a message at firstname.lastname@example.org.
P.P.S. If you want more trade setups like these in real time, I recommend checking out The War Room. Bryan and Karim have a 90% win rate to start the new year, and right now they’re guaranteeing members will receive 252 winning trades in their first 12 months. It’s communities like The War Room that helped me escape my 9-to-5 and trade full time – and I can’t stress enough the importance of having veteran traders guide you through the process.
“In [MRVL] $1.01 out $0.60 for 40.6% win [in 46 days]! Ty Karim.”
“In [QCOM] at $3.00 and out at $4.00 for a quick 33% gain in 30 minutes. Thanks Bryan!”