Get Ready 🔥 Big Move Starts Tomorrow 🔼🔻

All right, I've got a bunch of important trade setups to give you guys. Some predictions made in the last week that came to fruition so far in the market and a couple important ones. These are setups that I think are going to trigger tomorrow for some really big trades that I'm excited to take with my money. Nothing I say is a suggestion for you to buy, sell, or hold anything, but I'm getting ready to tell you about some big moves I'm getting ready to make. Welcome to Wall Street. This is the Stocks with Josh show. I've got a bunch to cover. I'm going to review some analysis on the SPY that I had previously predicted and tomorrow I think we're going to hit the number that I said we would hit and then have a really big reversal is possible. And I want you guys to be aware of it. We're going to be looking at the VIX which is predicting that the market is going to move from safety to potentially fear at any given moment based on past history. I have to shout out Netflix. I called this one up earlier this week to $78 when it was at $74 and we hit that today. Now I see on the Netflix chart a neckline at $78. It's actually between 78 and 79. Now, it could do something that I'm not expecting, but at the moment, I'm looking at that neckline as a strong area of resistance. And the overall market has got some economic data that it has to process tomorrow, which could give us a very volatile and uh ideal money-making environment on the markets tomorrow. So, Netflix hit my target. I notified the Discord that I was just going to lock in my gains. It was I did a options trade for over a 100% profit and I did shares up to 78. So from 74 to 78 a nice $4 move and I told everybody lock it in for now. Okay. So be informed. That's what I did with that. Now I also gave the ticker now when it was back at 117 and I said if we can get above this level we're going to move higher. We hit 130 today. Now, tomorrow because I'm concerned about what the market's going to do and how it's going to finish out this week, I would tell you there is a possibility that we could make a final push up towards 136. But at this point, tighten up your stop losses on trades like now. Now, I like now and I think it's got more opportunity to the upside, but it's been cooking and giving us a lot of green and we might see a little bit of red here. And then I've got the last video I did was uh one stock to go higher and one stock to go lower. I called Nvidia up and I called Meta down. Nvidia went from $217 up $10 to $227. Check. And Meta went from $611 down to $578 the very next day. Now, I'm not covering those today, but I'm going to give you my two favorite big tech stocks to go short in the next couple days. I'm trying to catch the top to go to the downside on these two plays, and I'm going to give you a brief explanation as to why I think they're going to be going south, and I'm looking forward to making a little bit of money if my ideas are right. All right, let's do a quick recap on the economic data that we got this week. It was actually a bullish week for bad data. The CPI report came out yesterday and it came out in line with expectations. The headline CPI was 0.1 month overmonth and it came in 0.1 as expected. The year-over-year came in at 3.4 and that was down from 3.5. So the CPI came in nice and soft and the market used it as a reason to go higher. And then we got the PPI which also came in cooler than expected. Now this was favorable for bonds and it took pressure off of stocks. The headline PPI came in at 0.0. zero month overmonth versus 0.2 expected. And then the year-over-year came in at 4.7 down from 5.5. Now, both of these data points were essentially bad news being interpreted as good news. These are showing weakness in the economy and the market believes that the Fed could possibly use that as a reason not to raise rates this year and possibly the idea of rates higher for longer are continuing to do the work to slow down the economy and keep inflation at bay. Now, the next report that we're going to be looking at, which could be a third home run this week, is July retail sales. Now, this is a measure of consumer spending as well as economic strength. Now, if it comes in soft, that would reinforce the cooling down narrative of the soft CPI and PPI and suggest that the Fed won't raise those rates. Now, these are the excuses that the market gave to push up to all-time highs and we have to be on high alert and we've got to be nervously bullish because this is a dangerous place for the markets to be. Let me take you into the spy and I'm going to show you what it is that I think might be setting up for the end of this week. It's a possibility. doesn't mean that it's going to come to pass, but you want to watch for it to come to pass. And if the market begins to react to the levels that I'm going to give you, well, then you know what might be happening. Let's go look at the spy. Not too long ago, I showed you this fib trendbased extension on the weekly time frame. And I predicted that we would run up to this fib level right around 780. Right now, it's sitting exactly at 782 if my lines are snapped and magnetized to the wicks on this chart. Now, what I am going to be watching for tomorrow and for this weekly candle, which is a little bit compressed, which means it's smaller than last week's, which was an expansion candle. The expansion candle took us up to the top of the range. This candle is getting compressed, and we're going to be looking for it to hit that level, and I'm going to be looking for it to reject. And the area of support that this could come all the way back to would be 75350 and a potential bounce on this descending support line. So, that's what I'm going to be watching out for tomorrow. Rejection at 782, bounce at 753. Now, what happens when it potentially bounces at 753? We could end up with a candle that gives us a nice wick, and we could return all the way back to the top of the charts, break through 782, and hit our final destination in the month of August. An incredible 800 on the spy. Now, this is the bestcase scenario that I've given you guys recently for a market that wants to put that blowoff top in the books. That's what we're potentially watching out for. Now, there are other scenarios that can come to pass here, which one would be 782 doesn't work as resistance, but we actually close the candle above 782 and finish the week out nice and strong, then it would mean that the market could be pushing to 800 next week. But if we get three green candles up, it wouldn't shock me if the market wants to retrace a little bit before making that move. Now, let's take a quick minute and jump into the VIX. And I'm going to keep showing you guys this because the history and the pattern on the VIX is very, very consistent. Anything under 15 consistently has been a great place to short the market. So, we've got under 15 right here. We touched it. This candle went green, which means the market fell. We went beneath it here. We pushed up again, which means the market fell. We crossed beneath it here. We pushed up really high. The market fell a lot. Okay, we touched it here, the market fell. We touched it here, the market fell. We're sitting on top of it now. Now, all that's left is for the market to react to this level. So, we're not going to be on high alert and we're going to be extremely nervous bulls when we're sitting on the 15 level of the VIX. Now, the VIX measures fear in the market. And when it's down at 15, it means there is no fear. And when nobody's afraid, you better be afraid. We'll look at a reaction for this at the close of the market tomorrow. Okay. I've got to talk to you guys about what I think is going on with Tesla, with Elon, and SpaceX. So, there's been a lot of speculation that SpaceX would buy Tesla. And just to answer some of the questions I've already seen in the comments, whatever the company is that's going to buy another company, stock market normally punishes that stock because they're bringing on a lot more debt. So, if SpaceX were to buy Tesla, SpaceX would fall. Now, in recent videos, I made it extremely clear when we were down at 115. I did not expect SpaceX stock to fall more. I said, "This trade has gotten extremely crowded and the bears are going to turn into hogs. They're going to get slaughtered and SpaceX has a really high chance of running all the way up to 130." And then after it did that and it came up to 130 and it held that ground, I said people are piling back in trying to go short at 130. I think there's a pretty good chance this is going to run up to 150. Now, in my opinion, 150 is the line in the sand. I don't think we go higher than that right now. I think that this is going to be an area where it's worth taking some risk for me to the downside on SpaceX specifically as I said a moment ago as these plans that Elon has to acquire potentially Tesla and to roll it up into one big massive big tech company that he can push to 10 trillion dollars in market cap and maybe become one of the largest companies in the world. Now, some people don't believe in Elon that way. Even though he continuously accomplishes incredible things, some people believe that he's behind and that he can't reach his goals and they're outside of his grasps. I wouldn't be one to underestimate him. But if it's true that he's going to use SpaceX to acquire Tesla, then he has a very uh highly motivated position as a leader in this company to push the price of Tesla down. So, it's an easier acquisition. And so, I don't want to be in Tesla and not hedge my risk to the downside. So, what I'm talking to you guys about is the dangers that Tesla stock is in right now. and the fact that I had predicted at least three times on YouTube that when Tesla ran up to $350, which I highlighted was the 30 EMA, that this is the area where if it was going to drop or stop rising, this is the area where it would reject. And we have been steadily climbing towards that target. And I want you to know that I'm going to have to take a very serious look at Tesla and prepare for more downside based on what's ahead. What's ahead? Well, we've got Elon conniving and planning a bunch of things that I can't prove, but I think the man's motivated to push the price of Tesla down. And I think that it's going to be very advantageous to him. A lot of ducks come in a row. He gets to have the voting rights over Tesla again if SpaceX acquires it, right? He gets to uh put all of his tech and all of these companies under one big incredible company. and he wants to do it and get a really good and cheap price at it and then he's going to turn around and he's going to push this company higher. Right now, I'm not convinced that he's motivated to push it higher. I think he's motivated to push the price of Tesla down. So, when it gets to 350, very high risk. This is what I'm going to be looking at putting on a hedge, a short on Tesla to protect my long-term Tesla as well as to profit so that I can grow my Tesla position depending on where it falls down to. Now, while Tesla is going to run up and hit 350, possibly tomorrow or Monday, the latest, simultaneously, I'm going to be looking at SpaceX, which is up at 150, and it's going to be in a position where it could potentially drop, right? It's already pulled back. it hit my line and if you had been taking seriously what I've laid out on this show, you would have known to short uh SpaceX at 150 because already it ran up, hit it, tagged it, and it's retreating. Now, any green that I see that pushes us back up to the end the upside on SpaceX, any I'm going to short the stock. I also want to highlight for those who are trying to do a little bit uh more with a little less a smaller account, you've got SSPC, which is a 2x leverage bare ETF to that enables you to short SpaceX. Now, again, I'm not telling you what to do with your money. You cannot follow me on YouTube blindly and uh without a trade plan of your own that takes into consideration position size and risk as well as a stop-loss in case I'm wrong on the things I'm saying. You cannot just jump in blindly and follow me. I'm sharing with you what I'm doing with my money as confluence for you. If you are along the lines thinking the same thing and you've got a trade plan, then you'll know how to dial in the information that I'm giving you. Okay, we're going to start off with SPCX and you can see this is a weekly candle. What a absolute and strong negative reaction that SpaceX had to that 150 price level. Okay, and I predicted this. I said that if we don't fall from 130, we're going to hit 150 and that's going to be the spot where we do reverse. And I think we're going to reverse here. I think this is going to come lower tomorrow. And if it goes up tomorrow, I'm glad I'm going to short it from a little bit higher position. And I believe that if this turns into a evening star candle pattern, okay, which is a push higher, this may turn out to be a shooting star dogee. We'll see what it looks like tomorrow. And if we lose the bottom of this candle right here going into next week and it comes all the way back and closes beneath this green candle, well, that's going to be an evening star candle pattern, which is bearish. And you take from the body of the dogee down to the bottom of the green candle, and it predicts a possible move down between 90 and 75. Now, we've talked a lot on this page about where it is that I want to buy. And I talked about possibly buying at 115. And you guys can see that if I had done that, I would have made a ton of money as that was the perfect spot for this to have a short squeeze and a run up to 150. I didn't do that. I did a little bit of swing trading, but I didn't didn't trade that plan as I had predicted it. However, I will take more seriously the buying of SpaceX long at 90 and I will simply add to my position if we go further down closer to 75. Now, these levels are not guesses. This is a uh reverse trendbased fib extension which gives you these predictive points together with other analysis such as the candle theory that I mentioned with the evening star that could potentially be forming here that gives us these levels. This isn't guesswork. This is interpretation of the charts. Okay. So, SpaceX, I believe it's going to the downside. I don't believe we're going higher. I think that we're going to hit this level and truly enter into despair on SpaceX, especially if he begins to announce the acquisition or the intention of acquiring Tesla. All right. Now, let's go look at the Tesla chart. All right, guys. Here's where the money can be made. Last week when we were sitting at 324, I predicted that we were going to run up to 350. And that's where Tesla would be rejected for a return down to 300. Now, I'm going to work this plan because the plan so far is working. We've already ran up another uh $15 on Tesla as predicted. When we hit this level, and if we hit this level tomorrow, this is the place for me to hedge. There's lots of different ways to hedge. I could sell calls maybe around 360, which is something I probably will do because when you sell calls, if this hits 350 and retreats, you'll collect the premiums and the options will expire worthless. So, definitely going to be taking that type of position. 350 is on watch, guys, for the final move up on Tesla. Make sure you note it. Now, the very last stock I'm going to be looking at is SSPC. Now, this is that 2x leveraged inverse ETF I was telling you guys about on SpaceX, and it's had, let me put the weekly candles on. Now, I talked about this initially when it was $9, and I called it up to 13 and then 15, and then 20, and then 25. We hit that high target, and man, was 25 the place of rejection. It's come all the way back and we've got a reset here down at the lows. For me, this is an opportunity to go long on some SSPC, which profits when SPCX falls. So, I'm going to leave it right there. I'm going to keep it simple. Tomorrow, we're going to get that retail sales report, and we're going to see if it comes in soft. Then, we'll have another uh reason for the markets to rally, for me to hit the targets that I gave you, the SPY to the upside, the VIX slightly more down, uh Tesla higher. These are the moves that are going to set us up for next week. largely the positions that I'm going to be entering are going to be taken at the end of the day, giving the market to sort of show me what it wants or show me what it's going to do and show me if my analysis has been correct. I'd love to hear from you guys. Let me know in the comments section what you think of my trade plans and these trade setups and uh and let's see if we can make some money. Uh come check out the Stocks with Josh community. I dropped that Netflix trade there which made a good amount of money this last week and uh I'll get you fed over there. I'm going to give you trade alerts. You go to the website www.stockswithjosh.com. Don't trade alone. Come learn my trade plan and see if it can help you out. Peace and blessings, my friends. I'll see you in the next video.