Daily Market Brief
Last night in the members video recap and notes I discussed that there had to be one thing take place after NVDA earnings:
That buyside flow (bulls) had to take control and “run with it” today. That failed to happen which triggered reversals across the board on a risk-off day which was honestly needed. Below is a snippet from the Members video last night that you can watch.
META - The reason we use the Weekly Report ahead of time is so that you have a road-map. There are soft-targets on the resistance and support areas on most equities covered in the report and you can see. For those new here I’ve aggregated ideas like this my whole career. When I was a PM you would get a lot of info coming across your desk - at first it seems cool but after a while it’s noise and screws up your head space….that’s when I started aggregating ideas into a report which was originaly an excel spread sheet.
Event-driven situations to watch (buybacks of interest, spin offs, some corporate policy change)
Momo-stocks/high beta
Value stocks I was stalking
Special situations (big sell-off / technical dislocations etc)
And each Sunday I would go through them, overlay my market timing/technicals and put together a plan for the week ahead.
Today it’s this report and each Sunday I still do the same thing.
Let’s look at The Momentum Monitor which is 1-3 Monitors in the full report.
Each section tracks certain sectors/ideas so that there is a plan of action ahead of time and so that you don’t have to do “research” on the fly and put on impulsive trades. It doesn’t require me to sit there and track call/put flow or any of that nonsense (and let me be clear: it is nonsense).
So, when we failed on SPX and Nasdaq today that META became a short and it had soft-targets at $460.
The report allows you to gauge the market and situations ahead of time so you have an idea of what is in play and then can mentally work through it before it happens.
Whether that is in The Momentum Monitor or tracking longer term ideas in The Swing Monitor, we're always looking ahead.
Same with SMCI. Sunday in the video outlook I spent time explaining why this could break down violently. Monday, in the DeltaOne Discord, I talked about the plan to execute on it and today we
a) Hit the levels and failed -$100 points.
I actually really do eat my own cooking meaning what’s in this report is what I use and it’s how you get the utility out of it that matters.
Those $840 puts I had went from $1.20 to nearly $10.00 to back to that area to $20.00 a contract today. I cut the runners but am still long some risk into tomorrow.
Let’s get into the recap for today’s trading and reversal. To start, this checkback of price is healthy but if you watch that video above, it’s The Fed Minutes that should have most of you concerned as to whether or not this market goes risk-off even further.