Well over a month ago, J.C. and I talked in the live trading room about a “W” pattern forming in $SPY.
This pattern is still intact. The measured move I have on SPY, should this pattern hold, is roughly at the 407 to 410 level.
I only made one trade today, but I called out multiple setups in the room.
Here’s today’s trade:
- I shorted $VLO at 134.77 and covered at 132.71.
Here are the setups I called out:
- Short $TMUS at 148 with a target of 146.20.
- Long $UBER at 29.30 with a target of 30.10.
- Long $RBLX at 33.80 with a target of 34.50.
- Long $TGT at 170.50 with a target of 173.
- Long $SE at 48.80 with a target of 49.50.
And all those targets were achieved.
I have a couple of losing trades to update:
- On November 10, I bought $ABNB at 102.22 and sold at 100.28. I should have held on.
- On November 7, I shorted $GOOGL at 87 and covered before the election at 88.83.
Happy Veterans Day to all the vets out there.
We greatly appreciate your service.
Have a great weekend. Look for the Morning Briefing on Monday.
All Star Charts Team