📊 Market Temperature: CAUTIOUSLY BULLISH 🔥
While SPY is technically putting in "lower highs" the price movement for the past 3 weeks has been very predictable. Buy 4 days straight and sell off on Fridays. All of this is happening in a channel that looks fairly "bull flaggy" to me. Would not be surprised at all to see us break out of the channel to the upside and head to new all time highs. The thesis changes of course if we break through the downside of the channel.
QQQ is having similar price action on the daily but is clearly just consolidating sideways at the moment. The level to watch to the downside is around $510.50. I'm staying cautiously bullish unless we break that low.
Overall, the intraday price action for most individual names has been characterized by weakness. Large moves in both directions hanging on every word of Trump and breaking news. With everything going on this week in the economic data and Fed speaker department and Trump talking about even more tariffs I don't see this high weakness environment changing anytime soon so I recommend tight stops and quick profit taking in this adapt or die market.
🎯 THIS WEEK'S TOP TRADE SETUPS:
1. SMALL CAP GAP WATCH 📈 ULCC (Frontier Group Holdings):
• Large earnings gap on Friday
• Day 2 continuation potential
• Watch previous high at $9.67 for breakout
• Volume profile strong (249% average daily volume)
Setup: Buy stop limit 1-2 cents above $9.67
2. EARNINGS TRADE RADAR 🎯 HOOD reports Wednesday after market:
• Clear uptrend and 8 days above the 5 SMA.
• Average post earnings move of 4%
• All time highs means not a lot of overhead resistance aside from psychological levels
🗓️ Big Catalyst Week Ahead:
• Tues: Powell Speaking (10am EST)
• Wed: CPI premarket + Powell Round 2 (10 EST)
• Thurs: PPI Data premarket
• Fri: Retail Sales premarket
Remember som TPT Golden Rules:
• No FOMO entries
• Respect our trading window
• Honor those stops - no exceptions!
Hot Sector: Gold 🔥
Drop a 🎯 if you're ready to crush this week with the LPC Fam!