New Trade Setups for this Week and Market Moving Events Ahead

All right, I'm going to give you some fresh technicals on the spy. I've got a new trade setup I'm going to share with you. A couple smaller cap stocks that are looking interesting to me right now. I want to begin to accumulate these for a little bit of a swing trade. This is not a scalp and it's not an investment at the moment. It's a swing trade. I have a major event in trading options that I want to update you guys on and we're going to go over a handful of other stocks. Welcome to Wall Street. This is the stocks with Josh show. We've got an important week in the market. We should be all nervous bulls right now because the market's got more potential room to the downside than it does to the upside right now. We're near the top at the moment, but I'm going to show you the trigger lines on the spy that matter the most. So, let's kick things off with talking about Tesla. I told you guys that this thing would hit 350 last week and then it would retreat hard and that I was going to be shorting the stock. I did that. I made good money and that trade is still in play. I want to highlight last week that we got a doji on the stock as well as an evening star pattern, but here's the most important thing I'm going to tell you about the Tesla trade that is in profit, deep in profit for me right now, is that it doesn't confirm for a significant move to the downside until we can get beneath 335. So, 335 is the trigger for a much bigger flush on Tesla. We don't have that yet, so you've got to have a more moderate position size for this trade until it confirms. Then we can go in a little bit heavier. That's your update on Tesla. I want to talk about SPCX. Now, this one has been holding up pretty well. It's not flushed yet and so we have to be more careful. It did run up, hit 150, and immediately pull back and I told you that it would do that and last week when you were looking at the weekly candle, it gave more of a shooting star or a gravestone candle, but as the day went on, it began to show some strength. So, specifically on SpaceX, we want to watch the 1-hour MACD cross down for confirmation. I also want to highlight that even though it's showing strength to the upside at the moment, the volume for that move to the upside is very low. And so, there is some bearish divergence between the price and the volume on SpaceX. Now, I'm in a SpaceX trade at the moment, and unlike Tesla, the SpaceX trade is yet to be profitable. I'm holding it. I'm going to put a stop loss on it. I ultimately believe that at some point we we will fade. Even if we make an attempt above 150, I believe that that attempt will fail. Right now, this is a battle between the bulls and the bears, and I think that those who are trying to pile back in and be very bearish at this point, the bulls have not let go of the stock just yet. So, be mindful of that one and protect your trade. Let's talk about SSPC. Now, this is the inverse ETF on SpaceX. I bought 1,000 shares. Let me know what you guys did with those three trades. So, the big news on Wall Street as it relates to options is that we've had a big change in the trading hours. You can now trade options premarket from 7:30 a.m. to 9:25 a.m. Eastern time, and then after market between 4:00 and 4:15 p.m. Now, specifically, what this allows people to do is to enter and exit leveraged options positions during earning events. Now, initially, the eligible names are going to include Apple AMD Amazon Broadcom Alibaba Bank of America, Google, Hood, INTC, Meta Microsoft MU Netflix Nokia Nvidia Oracle Pfizer Palantir Tesla and TSM. I was really surprised by this lineup because these are all stocks that I trade all the time. And I'm like, man, how did how did all my favorite companies get into this early options dynamic that's just occurred on Wall Street. So, let me just restate it again. We're going to be able to take options getting in and out of them earlier in the day, 7:30 a.m. Eastern Time. That's going to be a game-changer. It's going to open up an opportunity for us to make a lot more money. I will say that only limit orders are accepted outside regular hours. So, you still cannot use stop losses to protect your trade. You need to be watching them. All right, let's talk a little bit about last week. Now, we had a much better than expected CPI and PPI and the market liked it and it rallied. But, then we got the retail sales number and the market was a little bit concerned about the excessive bearish bad news and they didn't want to interpret it as good news. They were okay with having the market rally on lower inflation, but not too comfortable on lower retail sales. Now, this is going to set us up for this week for three earnings events that the market's going to be watching very, very carefully. This is a huge week for retail. We've got on Tuesday Home Depot reporting at 9:00 a.m. Eastern Time and the big question that Wall Street's going to have is are people delaying remodeling their home? They're going to try to interpret that from Home Depot's earnings and then Wednesday, we've got Target and Lowe's. That's going to occur before the market opens and Wall Street's going to be specifically watching discount shopping and consumer trade down behavior. Now, those two events are pretty important, but Thursday is going to be the one that really directs the markets and that's going to be Walmart's earnings before market opens because it provides the broadest view of household spending and inflation. Strong sales and guidance would ease recession concerns. Weak results or cautious guidance will show that the consumer is slowing down. That's the economic outlook for this week. Okay, let's talk about the spy and what the most important level is on that chart. Okay, we are currently between 782 and 771 and I don't think that the bears take this market over until we get beneath 771 and you can see that right now, we are pushing towards it, but we are largely still in a flag or a channel, and we should be watching that 771 for potential bounce area and a move right back in an ultimate hit or tap of that 782. Now, 782 is the important fib level, and we haven't hit it yet, and this is where, if we're definitively going to reject, we would reject somewhere north of 782 before ultimately coming back through 771 and having to come back and hit this 75350. And now, that is where we could potentially have a final leg higher all the way up to 800 before the markets officially roll over. Right now, the market is setting up for a big move. It's going to be watching those FOMC notes and Walmart's earnings principally. Prices compressing. We don't have that direction just yet. It looks more bullish to neutral, and so you don't want to attempt to load your portfolio and go short or to load your portfolio and go long. If you're swing trading, you've got to take this week more in stride and wait for the market to reveal what it wants to do. I will tell you that I've been making money mostly this week on stocks going short, so that tells you a little bit of something. All right, the stock that I want to give you guys today is going to be Netflix, and you might say, "Well, Josh, you you gave it to us last week." Well, we got out of Netflix at $78, and I believe it's setting up for another opportunity, and I want you to look at it with me. Let's go look at that Netflix chart. Okay, I made good money going from 7380 up to 78, and I let everybody know that I was selling it between 78 and 79, and you can see that that was the perfect trade. I got into it at a nice spot. I got out of it at a near perfect spot. It's pulled back. Now, I like this for another move somewhere between 75 and 7380. I want to highlight the fact that we do have a neckline. This is what I told you when we were trading Netflix last week. I said that we had a neckline around 78. So, 78 is resistance. Now, necklines give us potentially an inverse head and shoulders pattern. So, we've got the left shoulder, the head, and we could make a right shoulder anywhere in this area to go long. Netflix has been pulled back for a long time. It's building a base, and I believe it's worth buying on pullbacks. Now, I've got two more trade setups to give to you guys, and these ones are worth watching. I think they're going to move. Let me share with you the next one. It's Nokia, ticker NOK. Let's go look at that chart. I'll tell you what I think it's going to do and what I'm going to be doing with my money. Let's go check it out. Now, this is a stock that I believe that Wall Street is accumulating. This volume down here looks like accumulation to me. And the very last time that this got above the 30 EMA on the daily timeframe, the yellow line is your 30 EMA, that did become a place of accumulation for a much bigger move up. Now, let's go back in time and look at that because it really did something extremely similar. That was right back here. So, it had a monumental move higher. It began to fade. It had a bearish ascending channel, and it had another leg down beneath the 30 EMA, which is that yellow line there, and then eventually it recovered it right around here, okay? Now, after this point, after it reclaimed the 30, you can see that largely for a period of time it went sideways, but this was a period of accumulation, and after that it had a much bigger run up. It went from around $6 all the way up to $17. Now, I view that we are doing essentially the same thing right now. I want to continue to accumulate Nokia somewhere right around $10 in this range as I believe that we will largely move sideways. I'm not expecting this to be a stock that's getting ready to rip. I I believe that this is a company that I'm going to want to own more of this year for profits in 2027. Now, this one is pretty cheap. It's a $10 stock. I believe it's a turnaround story, and I think that this run-up and fade that we saw here is a duplicate of what we saw here. And if you were smart then you would have been buying this in this range, and I think that's the situation we're in now. Right now that range has gone up a little bit. It's largely between 10 and $8. So, I want to keep Nokia on your watchlist. If you're looking for a stock that is a buy, accumulate, set it and forget it, in my opinion, that's Nokia right now. Now, I'm going to give you one more stock that's going to surprise some of you because I haven't talked about it in forever, which is Riot, r i o t. I like it. Now, this one uh is not a stock for accumulation. I believe it's going to pop soon. It's a swing trade only right now. Let me take you into the chart and show you the range I think it's going to move. Pay attention to Riot. So, Riot's had a series of higher lows right now, and we have a morning star candle pattern at this level that should push us above again the 30 EMA. So, we have a candle pattern here that's telling us that we will at least get to right around $21, okay? And then what I like about that type of setup is it's likely to go up and hit this yellow line, which would allow us to put in a stop loss and control our position. Now, the target for me is a move up to 24. So, we're going to go from 20 to 24 ultimately. And the other technical factor that really, really, really, really stood out to me was this giant green volume bar. I think there's been some hidden buying in Riot as if somebody knows something, and we're getting ready to make a potential pop. So, put Riot on your watchlist as well. That's all I've got for you guys today. Thank you for watching the video. Hit the like, hit the subscribe if you want to get the next update on any of these stocks. Peace and blessings, my friends.