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Good Evening Horsemen Traders!
The market continues to rip. Lets see if we can’t catch a few chart set ups this week to pay the rent. It’s been two weeks since my last FHT Weekly Watch-List. I’ll admit i’m enjoying the summer as much as I can, spending time with family and friends.
Having said that i’m back and ready to keep posting ideas for our FHT traders in Discord as well as our subscribers to this Newsletter. If you like these ideas and want to see more of them you can get all ideas in the FHT Discord click below to join.
One more update before we jump into the charts for next week. I started a TradingView account. Here I will post more chart ideas like you see here in the FHT Weekly Watch-List. Follow my Trading View account by clicking the link below.
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Lets get into this week’s SPY key levels and a few of the tickers we’ll be watching for next week.
SPY 0.00%↑
- Key Level 407
- If key level can hold support my next resistance targets are 415 (also a breakout entry), 417 (200ema), 425 then 430
- If key level cannot hold support my next bounce area is 400-402, 395, 387
- SPY daily chart is testing the 200ema, last week we consolidated nicely from 407 to 413 area.
- I'll be watching for a 415 breakout entry set up where we can run to 417 before making a run to next resistance
- I'll also be watching for 200ema pull back then a pivot after CPI numbers on Wednesday the 10th.
- We have seen Mondays be a shake out day lately followed by continued uptrend, having said that there is potential for a bigger pull back to 400 or the 20ema
- 20/50ema are crossing over which is bullish, need key level to hold support.
SMRT 0.00%↑
- Key Level of 5.5
- If key level can hold support my next resistance targets are 6, 6.5 then 7 area or the daily 200ema
- If key level cannot hold support my next bounce areas are 5.25 then 5
Thesis:
- Stock showing strong uptrend with a crossover of the 20 and 50ema's on the daily chart.
- Earnings Report on August 11, possible we see a run up into ER. Expecting Positive ER given sector
- Last ER set new quarterly performance records.
- Leading provider of smart home and smart building automation for property owners. Automating rent payments.
- Renting is at all time highs with the price of housing so high.
- Could see a nice continuation of uptrend backed up by a earnings beat.
- I will probably look to buy the dips on this one and accumulate into ER.
KSS 0.00%↑
- Key Level of 30
- If key level can hold support my next resistance targets are 31 then a quick run to 34 to fill the gap.
- If key level cannot hold support my next bounce areas are 29.5 then 28.6 for a bigger move to the upside.
Thesis:
- Beaten down retail breaking the 20ema.
- Price broke the 20ema on the daily and pulled back to test support at around 30.
- Looking for more upside with a nice 10% gap to fill, with retail stocks like BBBY squeezing we can see these "under the radar" plays benefit.
- RSI at 47 and MACD already crossed over under 0 looking for a possible break of downtrend with a strong market.
RKT 0.00%↑
- Key Level of 9.5
- If key level can hold support my next resistance targets are 10 (breakout entry), 10.50, 11 (200ema) then 11.5-12.5
- If key level cannot hold support my next bounce area is 9 near the 50ema.
Thesis:
- Company had ER last week and pumped nicely after the ER dump.
- Looking to get back into the momentum building in this heavily shorted stock... 31% short interest
- Looking for a dip to 20ema on daily for buyers to come back in and send this back up to 10-10.5 area then more if broader market keeps strong.
- If broader market is weak i'll look to buy the dips for day trade scalping.
- RSI cooling off after hitting 70 and MACD in strong uptrend.
F 0.00%↑
- Key Level of 15
- If key level can hold support my next resistance targets are 15.5 (breakout entry), 16 then 16.5
- If key level cannot hold support then my next bounce areas to hold uptrend are 14.8 then 14.5
Thesis:
- Pumped on July Delivery numbers
- I'm looking for a pull back and pivot at the 200ema on the daily around 14.80
- If market is strong we may see a hold of 15 before the reversal back up starts.
- If we can't hold just below 200ema then we need to reasses.
- 20/50 ema crossed over. Looking for a traders remorse pull back before the next move higher.
Economic Catalysts:
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