Economy | Geopolitical
Geopolitical went from intense over weekend to irrelevant overnight — major end of 1H buying into oversold MAG7 names, led by TSLA
Dropping oil coverage for now.
Calendar
TSLA Production numbers this week
Notables
QQQ
Closed back above Kijun on MAG7 strength
Resistance ~725 —> 2H chart shows clear convergence of price resistance |Kijun | Kumo | upper B band
Open air to ~735 above
Daily
2H chart:
SMH
Reclaim of upper channel early as expected ~620
System objective ~600 Kijun —> met with low of ~595
Subtle pressure building on AI trade —> strong rotation back to MAG 7
Daily chart:
BTC
STRC +12% recovery —> signals building of significant BTC low
Daily chart:
TSLA
Surged through Reaction zone | Kijun convergence 403–407
System error on last weeks entry opportunity | today’s open
Daily chart:
Active Position
LULU
Retrace today —> held ~113 base support
~120 Kijun test next milestone
Execution Plan —> holding common
NUGT
GLD only thing red on screen today —> some question as to what they do with gold if BTC in fact bottoms
Evaluate NUGT stop loss tomorrow if no GLD recovery
NKE
Earnings Tuesday
Execution Plan — hold July 45C core as earnings ‘lotto’
Watch list
BITX
AVGO
System Insight
Another surprise burst of strength into end of 1H as market continues strong two way trade