There is plenty going right under the surface today. The chips and big tech are finally waking up, energy gapped higher, and $NVDA just climbed back to the top of the Big 10, something we have not seen in a long stretch. What keeps me from calling this a clean green light is momentum. The structure and the trend are there on name after name, but the MACD still has not turned.
That is really the whole story of this one. $NVDA is sitting on a 3-day squeeze that could carry it from $155 toward $240, $AMD is coiling on the daily, and the S&Ps have a squeeze of their own building. On the risk side, I need $QQQ to reclaim $720 or the tape starts to look shaky. I go level by level and show you the two trades I am already in: a long $JPM August $350/$360 call debit spread, and a long gold futures position I am trailing with a 1-hour stop.
Bottom line, the setups are stacked and the trends point the right way, but I am not chasing a thing until momentum confirms it. Get that MACD shift and these charts get their full tank of gas.
Watch the full video for the complete breakdown.
Stay Focused,
Taylor Horton
Tonight, Henry walks through his unbalanced butterfly strategy that allows him to pull income out of 0DTE trades, and it’s free to join. If you’ve heard me talk about clean setups and defined risk, this is that same discipline applied to same-day expiration. Catch it live HERE.