10/27 Best Idea For The Week Ahead
After 6 green weekly candles in a row we finally put in a red week, nothing egregious just a pullback to the 8 weekly. This coming week is the Super Bowl with Alphabet kicking things off Tuesday followed by Microsoft and Meta on Wednesday then Amazon and Apple on Thursday. Aside from those 5 giants, we have reports from other giants like Eli Lilly, Visa, Mastercard, Exxon, and Chevron. We’re going to know alot more about where the market heads after this week ends.
Then we have the coming election in 9 days, regardless of who you think is winning you have to listen to what the market is telling you as to who it thinks is winning. As of this morning the betting odds have completely flipped in the last few weeks to higher odds of Trump winning. That makes sense as the Trump trade basket below which consisted of 15 names is up 23% since September 6 vs the SPY at 8%. Again with markets it is best to keep biases aside and just look at what the market is showing you, price action outweighs all else and these names below are being bought hard. If you are in the camp Kamala wins then the trade would be etfs like TAN and ICLN which would be big winners but both of those are down alot over the last month.
This week with so much uncertainty in the short term as we await the next 10 days to unfold, I’m going to focus on a trade I think will do really well for the next week regardless of what happens. I wouldn’t be adding anything longer term until we get some more clarity but I like this trade for the next 5 sessions and I will explain why.
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