Morning Minutes

8-17-26

Good morning traders,

Happy Monday, and welcome back to another week of trading. This week should be relatively quiet from a data perspective. We have PPI / CPI behind us. Remember we are cooling slightly on those two values and the economy is shedding jobs. The next fed meeting will be interesting. The data is starting to point to a need to reduce rates - usually bullish for markets. As of right now, I'm betting they hold rates steady at the next meeting.

Data drops this week include FOMC minutes Wednesday. Not super critical but could cause some hesitation/chop in the markets. Jobless claims on Thursday, also not a huge one.

This morning, risk on sectors are up slightly or neutral, while defensive sectors are mostly down. Probabilities favor some decent price movement today.

I’m still watching this bullish pendant that tried to breakout last week. We are currently retesting the breakout (resistance) and if it holds, that will be a nice support line we can trade from.

Last Friday, we had some great plays:

We took a long position in TSLA for some nice change. We entered calls around 5.85 and sold for 6.25. Our runners were stopped out that same day.

AMD was a MONSTER for us. We got in under $500 and its up to $514 dollar this morning. Our calls on this name went 63%. We still have risk free runners open on this one.