Economy | Geopolitical
Parabolic rise for Tech ends week at highs on strong jobs report, momentum
Resilience to be tested early in week as Trump said to reject Iran’s conditions for peace.
TSLA —> System focus all week. +40 point candle — multi-week performer
Oil (WTI) —> Sunday evening
QQQ
Closed $0.01 off highs (711.13)
Support levels —> ~706 / 700 / 695
1H chart:
CPI report —> Tuesday
—> expect negative market reaction to elevated CPI if oil remains elevated into report
Position updates | Trades
NKE
System position adjustment this week
—> shift core to July
—> extend hedge to June | remaining May hedge remains in play until end of week if interim failure at Daily Kijun
Daily chart:
—> on break below ~43.75 (2H Kijun) —> on watch for retest of ~43 or lower
—> evaluate monetization of May hedge
TSLA
System —> hold fully covered —> allow spread to fully monetize on further strength | protect on weakness
—> Retrace risk elevated to start week
2H chart:
Weekly Kijun (~417) important support to start week
—> ~402-405 next major support zone
JPM
Daily Kijun reclaim —> 304.50
Next support ~297.50
Daily chart:
Watch list | Notables
SMCI
See incubator post —> patient through CPI for entry
System Insight
With markets just off extreme highs —> will monitor VIX for clues on more tradeable corrections.