That was a nice follow-through day for the indices.
The SPX hit resistance around the 3,850 level, and you have the 50-day moving average at roughly 3,868.
Here are today’s trades:
- I bought $NFLX at 291.50 and sold at 293.
- I shorted $ORCL at 73.69 and covered at 73.38.
- I shorted $AMAT at 87.21 and covered at 87.
- I bought $TLT on Oct. 21 at at 93.60 and sold today at 94.70.
I also called out $TSLA for a long at 213 with a target of 217 and $COIN at 72.50 for a move to 73, then 73.50.
I booked two losing trades today:
- I bought $SHOP at 30.08 and sold at 29.71.
- I shorted $RBLX at 45.42 and covered at 45.52.
Tonight, we’ll get earnings from $GOOGL and $MSFT, and it’s hard to say how the market will react to these reports.
We’ll see you live at tomorrow’s open to start the trading day.
All Star Charts Team