Friday ALL TIME HIGHS For SPY? What I'm Doing & ADBE Earnings (Daily Recap + Trades)

Intro Recap good afternoon Traders and investors will back here with another one coming to with a Thursday Market recap hope all of you had a very good day of trading today and in today's markets guys well the bullish momentum continues after yesterday's monster move after the size of yesterday's move and the momentum guys we were pretty sure that we were going to get some follow-through over the course of the day today because we really didn't have any macro news that would have prevented it right no real r no real major data events coming out today and the Bulls delivered in a very big fashion the Spy up all almost 1% 84% and the qq's up barely 1% as well about .98 but all across the board some very healthy broad Market participation in today's markets so in today's video guys I have a few things prepared for you guys we are going to take a look at number one some earnings from Adobe coming out with their earnings after the close today so we'll take a look at their numbers and see how they did and go into some valuation and whether or not I deem it to be a decent buy or possibly not and thereafter guys we're going to go through our major technical analysis rundown of our major stock market indexes followed by our big Tech names and see where can we still find some deals in this current market right now and then lastly just go over a few trade Recaps from today not going to do a full portfolio recap we're going to save that for tomorrow when we do the weekly ending recap in the Friday video so a lot to talk about today guys without further Ado let's jump right into it so spy as we said up Point 84% Q up a very nice 98 and all across the board guys we had some very decent rotation once again led by some of your laggards of the last month big Tech has really been participating heavily in the rally in the last two days very nice to see guys and there was some gorgeous opportunities across all of big Tech in the last couple of weeks so hopefully you guys are able to buy some of those very juicy dips especially on this guy right here Google Google really coming alive today 2.23% meta up almost three some very decent gains avgo continues a monster rally to the upside guys but really everything in terms of our big Tech GES did fairly well today financials also recovering from their uh latest stint to the downside over the past couple of days Healthcare just continuing to do its thing grinding higher and even the more defensive side of the market guys no real red flags just very broad Market participation I like to see it now in terms of the one-day relative guys you'll see that no sector was left behind today every single sector in the green led to the upside by communication Services which was Google and meta doing most of the heavy lifting today and now now where do we stand on the onewe relative guys well pretty much everything is in the green except for financials after their slight map over the past couple of days and energy as oil continues to be fairly weak trading at 2022 and 2023 lows so all in all guys looking like a very decent Market very good performance and great technical recovery by the Bulls when we needed it the most so before we get into more Tech goals guys let us jump into some fun stuff and that's going to be taking a look at some of the Adobe earnings so Adobe coming in with their earnings after the close today and ADBE Earnings they are down unfortunately about 99.51% and with such a big number guys you would expect that possibly they would have missed on something big right well unfortunately not they really didn't miss on anything that major they missed ever so slightly on their guidance but we know guys especially with AI companies in the most recent quarterly earnings guys unless the earnings are absolutely fantastic and the companies are raising guidance by a ridiculous margin usually we have been met with a lot of sell-offs the examples are you know very very many um in terms of the most recent quarter guys we can look at all of the semiconductors suffer that same Faith uh CRM right the list just goes on right uh very very rare that we've had a tech company over the course of this current quarter that's actually gone up 10 to 15% after their uh report I believe the only one to actually do it was workday workday putting in some very good gains and Oracle those are the two ones that come to mind that after their earnings had very good jumps most of all the other companies they might have jumped initially but then gave everything back right so taking a look at Adobe let's go over some of their numbers and explain why the reason for the drop well let's take a look here they had a double beat on EPS so beat on EPS on the uh bottom line essentially by about 2.61% but they also beat on Revenue by about 67 so where was the Miss here guys well let's take a look at this right in terms of the Miss as you can can see let's just jump into it a bit down here the article has now ran away from me now let's take a look at this right in terms of your uh miss here here is the magnitude of the Miss fourth quarter Revenue range 5.5 to 5.55 the estimate was 5.6 guys literally a 1% Miss on Revenue guidance now the EPS guidance 4.63 to 4.68 the estimate was 4.67 so barely a 1% Miss on EPS as well so tiny little Miss on guidance for Adobe but when we go through these earnings I'll explain to you guys why the market is reacting in such a Negative fashion to very decent numbers from this company let's take a look at some of their numbers shall we so in terms of the Adobe highlights let's take a look so as you can see guys very nice jump on Revenue here quarter over quarter measuring of course year-over-year Q3 2023 versus Q3 of 2024 very nice bump in Revenue 11% to the upside very nice gain in EPS as as well EPS continues to expand 23% to the upside and growth I mean the ma maintenance and here is going to be the key the maintenance of their current growth rates has never been a problem for Adobe streamlined EPS growth and streamlined uh uh Revenue growth as well but there in lies the problem right they've been spending a lot of money on AI recently as a lot of other companies have been doing as well however investors are now asking themselves the question especially if they're not able ble to raise guidance that much right they've been in this AI narrative for about a year at this point spending a lot of money but where is the massive growth that's going to possibly come from it well since the company is not meeting their expected guidance for the future quarter we can say that the AI growth is just not here yet and the reason the stock is down almost 10% in the after hours is many institutions and investors may just be getting impatient with adobe's AI growth story let's continue right operating cash flows very very healthy there as well 8% year-over-year adobe's never had a problem with cash flows to begin with now let's take a look at some of their uh some of their uh business segments right here's their digital media segment which includes their document so think of Adobe PDF reader uh and their creative segments as well so let's take a look right here document up 18% year-over-year I went through the earnings uh slides as well very good monthly active user growth on these segments creative up about 10% year-over-year in terms of Revenue net new ARR that is average our our annual recurring Revenue so basically their subscription model as you can see some very decent gains across the board and their ending ARR for the Year guys is now sitting documents 24% bump year-over-year and 11% on Creative Guys these are very very solid numbers to say the least right now document obviously is not going to be one of the major beneficiaries of AI except for possibly summarizing some documents it's more going to be in the creative segment right in terms of Uh custom a I uh abilities to edit videos or pictures much quicker than a user could do it themselves now take a look at their digital experience that is where they have uh most of their um softwares like Photoshop at Adobe Premiere to edit videos and stuff like that the revenue on those was up very nicely DX subscription up 12% year-over a year nothing bad to say about this report at remaining portfolio obligate or remaining performance obligations how much money they have in the pipeline moving forward they have about 18.14 billion uh for the 12-month period moving forward which is very very good for Adobe guys Adobe usually as a company makes roughly about that per year right1 1920 billion so to see them having about 18 billion in rpos means they have about still one years of Revenue in the pipeline very very good for them they also repurchased $5.2 Million worth of shares which is very very good and posted a quite healthy Gap operating margin of about 36.8% now that is actually better than what they've been doing in the past couple of quarters take a look here here's your history of adobe profit margins as you can see they've been doing a great job of expanding that gross margin and they took a little bit of a hit in the operating margins in the last two quarters but now as we saw right from their earning slides 36.8 so that number should be right back on par with what they were usually doing back above the 34% range and in terms of net margins guys net margins for the quarter were very good right around 28% and that is usually where Adobe has been standing in the past couple of years and past couple of quarters as well usually about 27 to about 30% net margins so very strong company high levels of free cash flow high levels of net margins to return through shareholders in the form of BuyBacks here's your Adobe shares outstanding and as you can see they continuously buyback shares being more aggressive with it at least in the last 2 three years to say the least so there's literally nothing wrong with this company guys it was for all intents and purposes a fairly normal report but there in kind of Lies the problem right it's also the Nvidia effect the same thing happened to uh them and a lot of other semiconductor companies in this current quarter and even your big Tech names right Microsoft Google a lot of these companies just dropping after earnings because the expectation they the bar they have set for themselves guys is excessively high if you start saying the word AI a thousand times on every single earnings call for 12 months in a row well eventually people want to see results of you talking about AI so much and unfortunately for these companies right we saw it in big Tech we saw it with semiconductors as well the infrastructure for AI the buildout right the capital expenditures on the data centers on the servers those are happening but what are the actual revenues that these companies are getting from these uh cost these heavy heavy cost expenditures well as of right now guys not much to show for it and you would expect Adobe if they really did have something to show for it to really start increasing their guidance of Revenue and bottom line growth but we're just not seeing it right now and that in my humble opinion is the reason why the stock is down about 10% in the after hours but it's definitely not because they missed on big metrics at all right so here are the highlights for Adobe let's go over some of the valuation here in terms of the uh financials of the company right very very small very very smoothly run company nothing bad to say once again take a look down here free cash flow monster guys this company has relatively no debt in relation to the free cash flow they bring in per year and the amount of cash that they already have on the balance sheet so the balance sheet gets up A+ for me there's literally no critique that I can possibly say to them in terms of the uh growth rates as you can see streamline EPS growth streamline Revenue growth nothing bad to say about that now when it comes down to the valuation here are some some concerns right so the PE Ratio at 536 for the foreseeable future this is the forward 2024 PE sits at about a 29.5 at a first glance guys it doesn't appear that high but when we divide it by their EPS growth rate which is very good 145% EPS growth for the next 3 years this is a perear basis is very very solid however it's just not enough for the valuation guys the PEG ratio is sitting a little bit above two right now I'll remind you anything under one is a screaming deal between one and two is good but you want to be closer to one anything above two starts to be a little bit Rich for any company not just Adobe right so sitting at a 2.04 while missing future guidance guys is not the best recipe for this company so that's probably why they're down 10% once again now in terms of where I would possibly like to play this one we're coming into it right now as you can see this very large support zone right here 530 all the way down to roughly 500 I would like to get this one closer to the $500 level if possible that is where I would consider playing Adobe a little bit for some swing trades if we were to revisit these lower locations down there guys the valuation would be a little bit more manageable and I would more enjoy taking that type of position if we come down here and start maybe feeling some of that prior earnings Gap that we had back here right so Adobe no trade for me right now it's a gorgeous company it's just not one that I'm looking to eagerly build a position in at these current valuations I think in my opinion guys there is tons of better opportunities in the market and you don't need to look any further than this company right here trading at a ridiculously low valuation the lowest valuation in all of Tech right now and even this company right here right I know they don't do the same things as Adobe but we're just going based off of valuation look at meta's valuation too right significantly cheaper than than them and arguably arguably right in terms of competitive competitive advantages and Moes I would say that uh meta's business and Google's business are far more difficult to replicate at scale than adobe's business right especially with a lot of the AI tools that are coming um that are coming out as of recently A lot of people are potentially worried about adobe's ability to protect their Moote if AI can replicate the same things that the adobe's tools does then why would you need premium subscriptions to add adobe's tools now obviously that's a very Layman summary of the current concerns right now but they're very real concerns those concerns may only start manifesting though in the next three four five years as for right now Adobe is still growing in line with its historical Norms so that's pretty much everything for Adobe earnings now let's jump into some fun stuff guys and let's jump into our big or sorry our major stock market index analysis right away and before we do that give me a very brief second and let's jump right into it so spy as we were looking for yesterday Indexes guys we were looking for the continuation of this massive hourly uptrend set forth by the Bulls in the late hours of yesterday's trading right and as you can see they performed it excessively well here guys barely setting the hourly higher lows in the first few hours of trading we were looking for them to maintain this range right they did it beautifully and now they put another leg higher so the Spy is looking excessively good guys huge huge huge engulfing move on The Daily so you can see that best right here loss of the daily uptrend daily downtrend now massive engulfing move and really coming over and above the prior little area of support it was resistance now that we're above it guys the Bulls I'm not going to lie they are looking like they do want the all-time Highs at this point and we don't have that much macro data standing in the way of us and those alltime highs take a look at this guys tomorrow we get the consumer sentiment index report now usually this can move the markets a little bit especially if it's received very very poorly but so far no expectations for that in terms of what we got today more producer inflation numbers I'll spare you the details of those but just to understand they were in line with our consumer price index numbers as well basically goods are coming down Services remain slightly sticky but as you can see the numbers are steadily continuously coming down on inflation whether you look at it on the consumer side or the producer side guys inflation is going away it's pretty much done at this point however next week of course next week's a big one we get Tuesday retail sales that's going to be big because all Focus right now is on the consumer's purchasing power right so this is the best indicator of that and then on Wednesday of course guys we get the biggest day all year potentially right the first edition of our Federal Reserve rate Cuts so it remains to be seen how much they will be doing but the expectation is for 0.25 so until then guys we don't really have much in the way uh to really stall our Bulls after this rally so may just be looking guys in the event we were to lose the hourly time frame into possibly uh the early session after as of tomorrow right ear hourly downtrend would be set then we might just be looking guys for a PO a probable higher low for potential further Trend continuation looking very very solid as of right now guys anything about 540 so much space looking for that daily high or low for further Trend continuation and look at the weekly if we close the weekly like this guys it's going to be looking excessively good for the Bulls right we were looking for the weekly engulfing move we got that weekly engulfing move looking for the weekly higher low we got that as well and now looking for the Perpetual continuation of the weekly uptrend on spy pretty much everything going to uh according to uh some of our technical predictions right in terms of just respecting the levels and playing off of those levels so very happy with the way this chart has played out now moving into cuq so cu's pretty much uh the S exact same thing as the Spy right so daily downtrend was underway you get the big engulfing move taking out our previous uh lower highs right there so big engulfing move by the Bulls they've now created enough space anything above 448 just going to be looking for a daily higher low for possible further Trend continuation we are now nicely back above the moving averages the moving averages are curling above us once again so tons of space to fall back into and now we have cleared this area of resistance it is now supposed to be a green box let me just fix that for us because now if we fall back into this area it will be used as by the Bulls as a decent form of support to potentially get a second daily leg higher on the daily uptrend now in terms of the weekly guys well we knew that the Bulls cut or the Bears rather cut much deeper on the qes than they did in the spy and the bounce was also lackluster compared to the Spy look you have 100% engulfing bounce on the spy in the same time period and on the qq's only about 70% which is still good but not as good as the S&P right and we were looking to see if they could potentially put in a weekly higher low and go for the weekly Trend change well with these candles the way that they're formed right now guys this screams zone of Supply to me and where's the supply coming in well it's coming in from this exact same box that we just turn green right usually when you see two equal-sized candles like this just reversing the move on the weekly that is synonymous with a very large area of supply for the markets so in my opinion it's going to be very tough for the Bears to get back through this location without any major negative news to the downside you'll notice that most of our big red days so far guys have only been new news event driven days right when we don't have much news the markets just drift and grind higher as they usually do so we'll keep our eyes peeled for the news as I've been saying so far guys I'm still you know right now it's pretty much 50/50 bare bull you know uh but we'll play these markets one day at a time in a cautiously optimistic fashion I do have some Hedges to the downside in the event the markets unravel and the recession narrative points are gives us more data to uh you know to enforce that soft or hard Landing recession narrative but until that time I still remain selling options as my main source of trading income now moving on to XLF and also uh some day trades and swing trades as well right when the opportunities present themselves looking into financials right now financials recovering a little bit today but still kind of Trapped In This daily downtrend right what we need to see is a continuation of the Bounce from the Bulls as of now they have it underway hourly looking to get the hourly uptrend back we'll see if they can do it into tomorrow and then we're going to be looking for the bounce size in relation to 4517 can we get an almost engulfing move and start resetting this into a daily uptrend reacting nicely from our support Zone down here though 44 down to about 4340 that's the area we were targeting and reacting beautifully I'll remind you just was looking for a weekly higher low for possible further Trend continuation so a lot of these dips on some of the banks guys I do believe are still for some short-term swing trade by the dip opportunities another one that we played today uh you know with our members in the Discord was when the news came out for Wells Fargo yes another privacy breach for Wells Fargo it seems to be a a quarterly thing for them at this point or a semiannual thing kind of like an anniversary every single year for the past four years this happens to the company multiple times per year they get a slap on the wrist they have to change their AML requirements anti-money laundering uh requirements when customers sign up and that's pretty much the end of it so when we hit the peak of pretty much the selloff I fired off a $48 uh short put swing trade for something like a wheel selling premium down here and by the end of the day guys that contract was completely worthless we made 100% profit on that trade and roughly you know just about the uh remaining hour of trade for the day so looking very good so a lot of these big Financial dips guys when they do happen I do still think that there are good buying opportunities if you can catch that volatility moving into XLV Healthcare right now Healthcare not looking too bad at all up about 36% on the day and Healthcare doing its best to try and recapture the daily uptrend right still need a break of actually today's and Tuesday's High because they're basically equidistant highs right now in the event we get that break higher Highs are set daily uptrend is resumed and we put an end to this weekly consolidation two two and a half weeks of weekly consolidation that was to be expected gorgeous weekly uptrend we were always looking for a retest for a weekly high or low for possible further Trend continuation right whenever we get too far away from this 12 em guys we can almost expect at least a pullback into it and we pretty much almost got it right maybe just a few uh a few dollars away from it so I'll take that as a win as well Healthcare looking very very very good as a whole guys the only Healthcare play that I'm in right now there's a couple that I'm watching but the only one I'm the only one I'm directly in I showed it on the channel yesterday is nvo nvo looking for the possible bull flag right three four months worth of bull flag looking for the expansion right that one kind of reminds me of what happened with Visa as well right just massive monthly bull flag looking for the trend expansion nvo is kind of looking the same another one up for consideration if ever it comes back and picks us up is UNH if we start retesting the prior all-time highs uh and um Eli Lily not even close right now even though it is one of our our Market leaders no real levels to be basing our trades off of the other one I'm looking at guys is ABY ABY in the event for some which reason if we continue pulling back on this weekly down to perhaps 12 EMA 187 is all the way down to roughly 185 this little pocket right here before we get get to the previous all-time highs I might be tempted to make a little bit of a swing trade on ABY like that company a lot moving into xlp now so or sorry we're not usually we don't cover these let's just do them real quick together right so xlp looking very good no red flags conserv defensives continue to be very very strong retesting the 12 MAA a few times the last couple of days looking very good guys gorgeous weekly uptrend utilities one of the stronger defensive names as well they continue to just power forward guys look at this 12 EMA being respected so expected since the early portion of the month of July so looking very good for some Trend continuation and real estate as well continues to outperform too now moving into SMH so semiconductors up about 0. 21% I mean semiconductors today guys were kind of a mixed bag right maybe I can move my shoulder right here or maybe I can just move my entire body uh so moving on to uh look at semiconductors guys very very mixed market picture for them if it wasn't for NVIDIA and avgo right and a little bit of AMD green a lot of them were kind of suffering today but that's normal they had a monster day yesterday a little bit of a pullback never hurt anyone at that point right so in terms of SMH what are we still dealing with right now guys you guessed it daily downtrend right now so big daily downtrend of the qq's nice engulfing move by the Bulls now they have to complete the two-step recovery process give us the Daily uptrend and get us above this big red box right here which ends at about 238 to make this box as some new support right if we can start clearing this come back and can back test it then we have a a better shot at starting it to attack the higher one which is roughly 249 up to about 257 so s SMH not looking too bad the bounce is a decent size right now any pullback looking for a higher low anything above 213 higher low for a possible Trend continuation trade on SMH in terms of the weekly well the weekly is not looking too bad but definitely not as good as maybe a cuq right you can see the difference and even from the Spy right so SMH really lost a lot more than another than other Industries out there but not looking too bad we will see can the Bulls confirm this daily uptrend with the rest of the markets right now and start clawing back a lot more of these losses or unfortunately will they just be kind of caught in somewhat of a tightening range as we kind of iron out the details around the growth story for semiconductors now moving into the Russell Russell up about 1.29% not a bad day for them trying to clear above this area of support right now which is 211 all the way down to roughly 207 not too bad of an area right prior 5 52e highs for almost the entire year so far what are they trying to do trying to get back as much as this move as possible Right in relation to 220 let's call it just 221 pretty much as of now the size of the bounce not too bad about a 50% bounce I would like to see them come up at least to about 214 215 give me a 618 bounce and then you have a much better chance at using this yellow box right using it here as support and then going for the daily Trend change that's the pattern I'd be looking for if you want to make a little bit of a swing trade on uh the Russell wait I'd be probably waiting for the back test because then you have a defined stop-loss area and then you can actually go for some of these highs right there so that's the type of trade I'd be looking at for the Russell and if you want to use something like the TMF for more leverage perfectly fine none of this is financial advice anyways right moving on to Dow Jones Dow Jones also not looking too bad 0.58% to the upside so the Dow Jones doing a a beautiful job here guys of trying to get the daily uptrend back and as a matter of fact if we were to kind of move yesterday's crazy price action I will give it to them that the daily uptrend is back in their hands right now not looking too bad at all here guys right and why is that so important that they have the daily back well we were always looking kind of like healthcare kind of like um uh financials right it was always a weekly uptrend we were always just looking for a weekly higher low for possible further Trend continuation I was telling you guys to pay special attention here on the Dow Jones to the 12 EMA and this $40,000 yellow line right here psychological support prior resistance of course and it came down tagged this area beautifully as of yesterday's trading day and now we are back above it so looking quite good quite solid on the Dow Jones no red flags to speak of as of lately now moving into Bitcoin let's take a look at some crypto because we haven't really covered crypto since Monday I believe so looking at Bitcoin right now we had a Bitcoin little bit of a dip as of the most recent last week of trading and now we're kind of back Above This crucial area for Bitcoin guys 57k down to about 55,000 I'm rounding clean it up right but you guys get the idea from these big levels and now we are back above it so what I need to see from the Bulls right now is give me the daily uptrend shift in a convincing fashion so far so good back tested this area yesterday trying for the daily uptrend you could say that we kind of have it today but I need to see more of a push give me a push into about 59500 then we can say Okay daily uptrend is clearly underway our weekly lows are set and then we're just looking to start and recapture as much of this most recent weekly leg down as possible talking about 6 4,000 so you'd like to eventually see this range tighten up maybe as best as they can and then get a significant break to the upside that's if they don't just do it right away right so growth assets still a little bit muted right now still not the best environment for them to absolutely have a monster rally however however it is still a good location in my humble opinion for me to be accumulated some Bitcoin so I have been taking a few Bitcoin positions not too much but I have added some Bitcoin to the long-term portfolio in the last few weeks of trading right there in terms of day trades on bitcoin I really favor the two times leverage ETF uh the name is bitx Ethereum moving into ethereum right now well ethereum a lot weaker than Bitcoin of course and as we can see massive Weekly downtrend right so that's very unfortunate for ethereum coming into the bottom end of the range of support right now about 2100 but as I've been saying over the last two months guys people just aren't using ethereum the same way they were back in the rally of 2020 and 2021 everybody's kind of using salon now especially to trade uh either meme coins or just for General ecosystem purposes right ethereum still has its place but I'm starting to kind of even myself kind of fall out of love with ethereum's premise as a whole guys it's not the most sophisticated chain uh it was first it's not the fastest either though and it is sometimes expensive for newcomers to the space so ethereum although I do think it will eventually keep continue following Bitcoin to the upside it may not be outperform as much as salana as a matter of fact the next time we do go over crypto I'll probably cover salana a lot more so ethereum same thing as Bitcoin looking for the daily uptrend as soon as we get the daily uptrend guys need to look how much of the weekly can they recapture and then eventually reset the weekly uptrend as well because right now it's just entirely bare control and Solana now we can do a little bit of salana right here so salana maintaining a very nice range you'll see guys that this does share the exact same chart almost as Bitcoin right so Bitcoin kind of looks like that salana kind of looks like that kind of looks like a cousin right distant relative some something like that but as you can see there's a very clear level that we're trying to respect right here I can even drag this down to include some of the tales on the monthly clear defined area 120 all the way up to about 140 this 20po range Solana has been defending with its life looking like a very nice Tish range of accumulation and it is just that guys it is a tight range of accumulation this is one massive bull flag in my opinion and it's only waiting for U for the uh Bitcoin trade to start rallying to Then Fall follow that exact same Trend daily uptrend reversal start reversing the weekly and then just continue gaining the levels as crypto becomes more favorable in a rate cut environment after we get through a lot of these recession fears now moving into big Tech shall we so moving into big Tech Apple not with a bad day today 05% but Apple AAPL Still Remains slightly slightly weak guys after their iPhone event right there really wasn't anything crazy to speak of of course the AI features are nice but people are still concerned whether or not those are going to translate into a legend upgrade cycle for the company so that being said guys taking a look at Apple right now daily downtrend is in motion the bull is putting in a very nice size bounce right there let's get the chart bigger so you guys can understand what I'm looking for so moving into this right 78% bounce so it's looking good either for the 100% Eng gulfer and reset into a daily uptrend higher something like that or if we fail from here reset a little bit lower daily higher lows and then go for the two-step daily uptrend recapture so Apple not looking too bad All Things Considered even on the weekly guys not looking too bad either gorgeous weekly move up looking to possibly set the weekly higher lows using this 220 down to 215 area as support possibly looking for that upside swing into the all-time highs so as I was saying yesterday guys there is a little bit of a swing trade here on Apple if you want a short-term swing trade right well if I wanted to uh because none of this is financial advice below 217 would be the stop loss and then we're obviously targeting our uh take profit all the way up here in the high 230s so that could be a little a little bit of a swing trade on Apple just going for the weekly Trend continuation pattern right myself personally I'm kind of not not trading Apple uh the way I love trading Apple is to sell premium on Apple but I just haven't been getting the best deals on Apple I would love to see it come down here in the 210 so I can start selling some premium around the 210 or sorry 205 to about 200 level all the way roughly down here so that's my take on Apple now we're going to take a look at AMD but just give me a very brief second AMD guys cuz you know I love to talk right so moving into AMD so AMD up 61% not the best day for AMD but it's green I'll take it pretty much waiting for the exact same thing we saw yesterday right so big daily downtrend on AMD now we have the engulfing move they've completely engulfed this second leg of selling right here the highs was 14914 we've now broken that so the Bulls have an engulfing move now one of two things is going to happen for AMD guys in my humble opinion either we're going to continue this push into our overhead resistance level which is 155 to 163 similar to what they did back here right you saw they come very hard into this level the problem is when you try to do this Allin one shot guys when you come into such a very big area of resistance sometimes the Bulls just get tired so in my opinion the most likely trade setup is either going to be pull up into here get rejected sit try and set up for the daily higher lows and go for a second uh attempt at breaking those resistances in two different legs or in the event we roll over from here then we can gain a little bit more momentum from here the Bulls can take a little bit of a breather and then try attacking this level in one clean shot right so that's what I'm looking for on AMD one things for sure in the event we start pulling back from this location I'm going to be looking to write some short puts down here 137 134 is range that's where I want to own the company in the event we get a sign guys this is going to be the juicy area to be writing some uh put credits or put credit spreads or short puts if you want something like that right in terms of going long at this range guys it's very very tough for me to build some long from here into the resistance area right the Longs were pretty much down here if you miss them then we have to wait for a little bit of a retest in this location and then we can possibly make an attempt at the Longs that's just how I'm seeing AMD just keep in mind we do not yet have the weekly uptrend either that would need a clean break of 162 we'll see if they can get it done over the course of next week definitely looking very good with this week's momentum however now moving into AMZN Amazon Amazon Amazon just plowing through the highs today 1.34% looking extremely strong and I'm glad that we gave this trade in this location right here we were saying tightening range on Amazon what were we looking for guys looking for the weekly higher low for possible further weekly uptrend shift right because we lost the weekly uptrend we had the weekly uptrend this entire time and then we lost it with this flush right here by flushing the higher lows so the Bulls had to get it back so the one twostep process of getting it back and then rally this is exactly what we were talking about the last few weeks of trading right coming back back testing our big support range right here 173 down to 160 prior all-time highs from 2020 and 2021 and now the rest is history guys uh Amazon well on its way to start challenging this one nighty line of resistance and then we're back to the all-time highs so hopefully you guys are able to buy some dips on Amazon they gave us a lot of time for it guys almost a month worth of time to pick up some Amazon shares for the long-term portfolios so hopefully you guys were able to do that Amazon looking excessively good at this point in time just looking for a higher low so in the event we start getting a back test right break out of this range right here this is a long-term range guys this is like two months worth of range right we've just now broken above it so in the event we get a little bit of a back test right here that is going to be a trade entry opportunity the moving averages will all be curling up into there it'll be perfect Confluence breakout retest and then run trade location is right there in my opinion moving into Google right now Google also finally coming in live a little bit right here guys 2.23% and GOOG this one had all the recipes of potentially being a very good uh trade right which is why I've gone so heavily on it daily oversold conditions Google doesn't often hit daily oversold conditions guys but when it does usually it has a very nice rally thereafter right we covered this on the channel a couple times in the past right when we get rsis in the low 20s like we had back here usually Google does have a nice little Snapback rally that's exactly what what we're witnessing right now so daily downtrend was clear clearly underway now we have a decent sized bounce here guys take a look at the size of the bounce right step number one the Bulls need to give us a decent Siz bounce create some space off the lows to be able to reset into a daily uptrend that is Step number one and so far not too bad of a job by Google right now bouncing about 6.18% so that is exactly what we're looking for give us a little bit more and then the probabilities increase that we can get that daily uptrend shift as soon as the daily uptrend is confirmed we know that the weekly bounce is confirmed underway and then we'll do the same thing then we look on the weekly how much of this weekly downswing can we recapture then eventually reset into the weekly uptrend and then we will just have our monthly higher lows which are set and moving into a new monthly uptrend this chart right here the monthly trend on Google is the one reason why I was so confident in buying the company we were retesting prior alltime highs of 2020 and 2021 and I was uh you know saying a long for a long time anything 150 down to 130 guys is easy easy money longterm on Google obviously there's going to be some short-term swings short-term volatility but in terms of a long term proposition it is extremely an extremely good opportunity and the valuation is excessively excessively cheap right now so not looking too bad at all on Google let us see how the Bulls can evolve in terms of this Snapback rally so it's a start guys I'm not saying the Bulls have it in the bag just yet but it is a start we'll take this one day at a time moving META into meta right now meta up a very healthy 2.69% and apparently meta Bulls listened to the video yesterday and we're just like well you know what will we're actually going to make an attempt for the all-time highs right away right so coming to this resistance very very tough for us to buy into resistance the joke was you know the Bulls today didn't care they were like you know what we're going to buy into resistance and we're going to push this thing higher so daily downtrend was underway now we have a big 100% engulfing move of the most recent leg of selling looking quite good what I would like to see on on meta for some Trend continuation here guys give me a break above the big resistance Zone 531 get me above 531 give me a retest of 531 and launch then I will definitely take the trade on the retest here for meta because we've been looking for this one for a long time here guys right weekly engulfing move higher lows are set and now we're looking for the weekly uptrend shift to the Bulls next Target in my humble opinion will pretty much be 550 psychological for them so still a decent little margin to work with here in terms of some short-term swing trades but meta is looking very very good to say the least guys no red flags on this chart whatsoever now moving into Microsoft so Microsoft another one guys that I was really pushing for indirectly right for people MSFT to notice the trade opportunity down here and for those of you who are able to pick up some Microsoft well congratulations now you should be up pretty nicely right on one of the greatest companies in the pl on the planet so daily downtrend was underway we knew what we were looking for engulfing move on The Daily we now have the engulfing move on The Daily and we're attacking this range of resistance guys 433 down down about 427 so this has been a very big range of resistance tested by the Bulls a number of times over the course of the year so far so we'll see either one of two things is going to happen either we can clear this in one shot then the Bulls might get a little bit tired retest and then run this retest very high probability trade we will tackle that when we get to it or we run out of steam into resistance and then we have tons of space guys anything above 400 just looking for a daily higher low for a potential second stab at this resistance location so my Micosoft coming beautifully off the lows and look what's going to happen if we close at these current levels guys let me zoom in on the weekly so you guys can see it even better right let me zoom in even more you can see if we close right here one more Green Day on Microsoft this is going to be your first new weekly uptrend since we lost the uptrend back there in the early portion of July so this is a very notable move for Microsoft right now congratulations to all the Bulls looking very good and the higher time frames always look good guys this was never a question for Microsoft right always just a monthly uptrend looking for some continuation so congratulations out there guys for um you know if you were able to uh jump onto those trades and in the event you weren't guys well I wouldn't be too nervous about it either right still a very decent location to be buying Microsoft for a long-term portfolio moving into Netflix Netflix up about 78% NFLX o Netflix tried for it today right you can tell that the Bulls are kind of getting anxious right they really want to smash the 700 level and start gaining the levels to the upside so daily downtrend was underway and now the Bulls have a decent size engulfing move but we're kind of trapped right here right where are we trapped guys very simple we're trapped at the previous all-time highs and the current all-time highs as well that will only last for so long in my opinion especially if the rest of the markets continue on uh several days worth of rally uh moving forward right in that case guys we can probably expect a break out of the all-time highs I would not be surprised what I'd like to see if that would be the case is break out of the all-time highs give me a retest of the alltime highs and then run right I love those breakout retest tra trades guys they're might bread and butter pretty much right so so so easy to constantly trade breakout retest and run right it's just the actual pattern of the uptrend so that's what we're looking for when you can combine them with big areas of support or the moving averages they work even better so Netflix not looking too bad at all still patiently waiting for that breakout and in the event we don't let's say there's there's also a chance that we fail right so let's we just fail and continue sliding down into here we'll just understand big support below us right there 652 down about 632 looking for a weekly higher low for possible further Trend continuation so now moving into Nvidia Nvidia also not looking too bad NVDA today 1.91% to the upside Nvidia has really been on a monster move so far from the lows here guys all the way up here 18.5% they are having a contest with avgo who can put in the most amount of gains in the shortest amount of time avgo taking the cake 23% in the last 4 days of trading from the lows so looking very good across both accounts right there now moving into the actual technicals of Nvidia well we knew we were in a daily downtrend right clear as day and now we have to do a lot of work to kind of get that daily downtrend back so at least now guys we've put in a very sizable Bounce from the highs take a look at the size of this bounce 618 so that is the level that we hit we hit it actually perfectly on the dot today before starting to give a t tiny little back excuse me of those gains right but Nvidia still looking good right now so now the Bulls have a chance at possibly being able to reset into a daily uptrend if we fail from here and close below that's okay anything above 101 looking for a daily higher low for a possible second attempt at smashing this green box of which is now resistance right however in the event we clear it tomorrow then we have another opportunity for the breakout retest of location and possibly run into the newon daily uptrend and possibly looking to start recapturing some of these weekly highs remains to be seen can Nvidia put in a new weekly uptrend and go towards new all-time highs or are we maybe going to be range bound like we were last fall that is anybody's guess guys right nobody has a crystal ball the best you can do is have an educated guess right and if you're right you'll say I knew it and if you're wrong well you won't want to talk about it too much right but nobody knows these things guys the best we can do is focus on the short-term price action and when we get some trade opportunities like a uh like the infamous breakout retest we can take that trade and take it all the way to the most recent highs setting our stops below wherever the daily low those were here right so that is how I would trade Nvidia myself as well I will be continuing to write some short puts short puts anywhere below 105 seems like a decent proposition to me as well TSLA moving into Tesla so Tesla up only about 74% today not too bad though Tesla's kind of been just grinding back a lot of the losses that they had on the last Friday session but nothing bad can't say anything bad about the company as of right now looking to maintain this daily uptrend still looking for a break of 233 to the upside break of 233 with overall good Market strength would probably start giving us a gap fill opportunity right here anywhere between that 235 and 245 range that will be the first Target for uh Tesla to the upside in my opinion and to the flip side in the event we start consolidating a little bit well the Bulls do have a lot of space anything above 210 probably just looking for a daily higher low get this a bit more tight and then maybe Blast Off towards um you know maybe after rate Cuts or maybe prior to the robo taxi event in anticipation of that news event right so Tesla not looking too bad right now on the weekly still weekly just very very very challenging uh in terms of the price action right now very very tight uh price action and within the context of this previous lost momentum so they're trying they're trying to go for the weekly uptrend we are above all of the weekly moving averages and looking good as long as the rest of the market is going good this could be a case of rising Tides lift All Ships and Tesla could be getting the benefit of uh some continuation rally to the upside guys as I said 245 first Target and then the second target of course 2 55s at the highs moving on to paler right now paler PLTR looking absolutely phenomenal at the highs right here 177% but it's getting a little bit tough for paler to start uh to really break out of that level right the next area of resistance is 38 down up to about 39 not looking too bad very tough for me to buy up here though right weekly starting to get a little bit overbought on the RSI daily is definitely overbought on the RSI right now and just the overall valuation of the company guys 3.72 Peg right now at about 35 this is closer to over a four Peg which is a lot for the company guys keep in mind I was buying paler this entire time down here right some of my some of my initial buys on paler were in the $16 $15 range I averaged down into it for about a year at that point not so much right but still average into it all the way down through like $8 $7 things like that so I I'm I'm well positioned to say that at this price it's expensive I do have a decent amount of shares right so I'm not adding any more shares right here I'm also not selling any shares for me it's just a hold I'm going to be looking to swing trade this one in the event we start rolling over this daily uh into a little bit of a daily downtrend and into some weekly consolidation I'm going to be looking to play this weekly consolidation dip here guys I would love to find this stock come back maybe into the 32 High 31s that way we can get some short put opportunity plays at the 30 even $29 levels but all in all paler no signs of weakness right now still full control of the the hourly uptrend still full control the other short time frames like the 4H hour everything is not looking bad for paler at all so either wait for the pullback here guys or as I said if we're holding there's no reason to uh Panic right now right we could just get another leg into the 38 $39 level and that might be where uh you know the Bulls say enough is enough and they start taking some massive profits so that's pretty much everything for our stock market recap over the course of the day today I just wanted to run through a few of the trades that I presented to you guys uh on the channel on Tuesday right so I gave some swing trades that I was looking for yesterday I went through my full portfolio so you guys saw even more trades that I had put on but let's go through a few of these Trade Ideas Recap quickly right so Airbnb I still like Airbnb guys Airbnb still coiling up at the lows right there we're looking for the daily Trend expansion I would not be surprised if soon if the rest rest of the markets are bullish the next few days we may just be able to fill this Gap over at the 126 that could be a very nice trade guys the stop loss is super tight right now and the upside is also not so bad at the 126 the other one we were looking at is ups for the exact same reason extremely tight range of accumulation right there they pay a 5% dividend at these levels right now so not even a bad uh longer term swing for this company at all same thing stop loss can be really really tight and we're just looking for the trend expansion into perhaps the mid 130 range so that one's not looking too bad in terms of the other ones guys the other ones right those are the accumulation range trades here are the breakout retest trades right so bldr gave this one on Tuesday great little pullback opportunity yesterday on the company and now looking for the daily Trend expansion this was a weekly breakout retest of the range retest of all the moving averages and the support range and now we might just be looking to run on blr so congratulations if you're able to fire that one off GLD we were looking at GLD for some continuation momentum daily bull flag guys this one was juicy daily bull flag underway we were saying that there might be some risk uh in the event the markets cool off uh that gold may just start revisiting this l 226 225 location so there was two trades right there was an immediate trade right now and there was also an add on to that trade right so you could start I was saying I was starting a position right here and in the event we pull back more for the retest of the alltime highs I was going to add more here and then we just go with the weekly flow right so happy to say this one played off instantly pretty much the trade we opened yesterday with the uh Discord we were up 16% on that one using very conservative options mind you guys I didn't even go aggressive on this positioning at all but we're still able to make over 16% in one day of trading off of that play on gold so hopefully you guys watching were able to eat on that as well the other one we were looking for was in look at in it guys $646 I've been calling this one on the channel for a very long time at this point in the lower 620 down to 610 so we called this one as well on Tuesday we had another opportunity to come pick up everybody who was left behind in below 620 and now this is looking very very very good daily Trend expansion and just looking for some potentially weekly Trend recapture start retesting some of these highs 655 656 but the best one is the monthly guys this is a monthly cup and handle right breakout retest cup and handle formation super strong looking for the eventual rally beond the all-time highs the other one we were looking at was O semiconductor o and semiconductor if you were looking for a short putut wheel trade I know I didn't do a top five options play uh video this week cuz I was sick unfortunately but an opportunity presented itself yesterday as well caught it with the Discord members as soon as it happened early on in the morning we were looking at the $65 or $64 puts and those by today would be pretty much completely worthless so congratulations if you're able to write some short puts in one of the levels that I've been writing short puts on o semiconductor almost the entire year so far love that 63 64 $65 level on o the other swing trade we're looking at which hasn't really lifted off just yet but is starting to show some signs of life is Palo Alto Network so Palo Alto the chart is a little bit messy but all you need to understand daily downtrend we were looking for the end of the daily downtrend and for the Bulls to start putting in a daily uptrend sweep reversal and why because we had the weekly bullish bias right breakout on the weekly retest the prior range weekly 12 EMAs is right there so we're looking for the weekly move higher so as of now it hasn't fully left the station but it did present some decent opportunities if you were looking to build a smaller position over the course of yesterday and last trade we were looking at guys was Waste Connections this one as well guys classic trade right all the setups are the exact same right bull flag right bull flag breakout retest bull flag into possible new to all-time highs such an easy strategy guys Trend continuation patterns on the weekly especially on solid companies like these you know that most likely there's going to be buyers sitting there so it's a very very easy trade to make daily downtrend we were looking for maybe one last retest right we filmed this one we gave this one on the Tuesday I said any retest of this Zone should be a buying opportunity for anybody looking 183 to 182 it came right down into us yesterday guys and now looking to move higher just looking for that Weekly Trend continuation expansion further possibly into the psychological 190 and then of course the $200 range so not looking too bad on all of the trades that we gave on the channel so hopefully you guys were able to if not maybe take uh the trades themselves right because I never Advocate you guys for just blindly taking trades right but if you were able to learn from the setups and what I look for in high quality setups keep in mind these aren't 5 minute uh chart setups or 15minute chart setups right they're daily and weekly and even some monthly biased um chart setups right so hopefully that was educational for you guys we'll do the P full portfolio recap uh tomorrow but it's been a very good week so far so guys that was pretty much everything for today hopefully you enjoyed today's video if you did consider dropping a like would appreciate it for the growth of the channel and also consider subscribing to the channel if you're new guys so close to 3,000 subscribers guys let us get that milestone for me please I don't usually ask you guys for much but if you could click that subscribe button and get us over 3,000 it would uh you know I would have a little bit of a mental Victory there tonight so thanks very much for doing that and lastly if you have any questions at all guys anything you want a if you want me to look at a stock we do the uh subscriber request videos on a Saturday right so if any stocks you want me to look at leave them down below in the comments technical analysis as well an options play you're considering macro discussion anything you want guys leave it down below in the comments and I'll be sure to answer you you usually within the first 24 hours so take care see you guys after the close tomorrow have a great rest of your week wrap up Friday strong happy Trad happy trading tomorrow peace