Daily Market Brief

Monday May 13, 2024

The market is silent ahead of this PPI and other data tomorrow and there wasn’t much to do there for intraday flow. Our BABA 0.00%↑ position had a nice gap up today ahead of earnings pre-market tomorrow so we’ll see what they have to say since I have a LEAPs position on that long.

I wrote about it over a month ago here.

$5255s are key for this SP500 then above that $5290-$5300. I don’t have a bias on this and I talked about the plan in the Report last night so that being said not much of an update there.

GOOGL - this hit a checkback to buy zone so that is the one trade I put on today and that was a Top 3 idea to watch (and will be for a while) in the report. The stock was up +$5 from the early morning lows today and I have some targets that are higher into end of month on that - below are notes from the Sunday PDF report.

I am going to discuss The Momentum Monitor from the report as a point of utility tonight for readers using this GOOGL 0.00%↑ as the example to explain application/utility.