Finding Symmetry in These 2 Trades…
I said I wasn’t quite sure about the market’s direction last week.
But this week I have a better feel.
I’m leaning bullish after the consumer price index (CPI) report. And unless something changes, I think we can keep this rally going into next month’s CPI report and Federal Open Market Committee meeting.
Click the image below to see the two companies I’ve got an eye on.
YOUR ACTION PLAN
Here is the chart of the S&P 500 (SPX) showing the symmetry cluster zone around 3,900. Basically, if SPX comes into this level, I want to get long.
Below is the hourly chart for Netflix (NFLX). Note that this chart is not yet set up for a buy – I don’t yet have the red dots that indicate a squeeze. But I’m watching. And if we do get a squeeze, I’d like to get long in NFLX around the $290-$300 level.
I’ll look to pick up some of the NFLX December 2, 2022, $310 calls if this all comes together late this week or early next week.
Alright gang, that’s what I’ve got for this week. I hope it helps.
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P.S. If you have any questions, please email me at firstname.lastname@example.org, and I’ll get back to you in the next video update.