8/19 Best Idea For The Week Ahead

Before I go into this weeks best idea, the market did close right above trend yesterday, so the bull market is saved for at least one more week. Next week we have the last of the megacaps reporting, NVDA, it likely makes or breaks this trend. So whether you like it or not, if you’re a bull you’re an NVDA fan next week. This was our first close below the 8 week ema since March, so it has been a while since we’ve been this weak technically. That dip was short lived as strong earnings from MSFT,META,AAPL, and NVDA brought us back within the trend quickly.

Today we’re going with one of the world’s largest companies, you all know it well, and it just did something it has done only 2 other times in the last 12 years, close with 5 straight red weekly candles. Both times it did that, it was up over 50% within the next 12 months. Also yesterday there were 3 very large unusual sized call buys including a huge buy of 2500 calls almost 50% higher……..