1. Market Environment
Middle East appears to be escalating —> yet Big Tech earnings take control
WTI (oil) ~84 testing Daily Kumo and multi-week price resistance | reaction zone
Gold key brake of ST down-trend last evening triggering +80 move in XAU
MSFT inside day
2. Calendar
GOOGL TSLA reports tomorrow
3. Market Signals
QQQ
Closed back inside diamond
Support |Resistance zone shifts to ~708–716–725 —> 670 on decisive break lower
Daily chart:
SMH
Support |Resistance zone remains ~570–585–605
Daily chart:
BTC
BTC broke above 66K —> entering air pocket of 66K holds in hours ahead
Daily chart:
TSLA
Inside day
Kijun convergence zone remains ~395–400, with mini-resistance line ~392
Earnings Wed — seldom a buy-news name info EPS —> yet major Q2 deliveries beat
Daily chart:
4. Active Positions
LULU
Another firm bounce off (falling) Kijun
Execution Plan —> holding common | Sep 140Cs | Aug hedge
Medium term target ~140–160
NUGT | GLD
XAU broke above ST downtrend resistance
Execution Plan —> Added July 27 368P hedge per plan @ ~373.50
NUGT phase I target: ~130–150
XAU Daily chart:
Regime change zone ~4120–4150
MSFT — SEP 430C
Inside day — contra Semis trade held today —> MSFT faded as SMH rallied
Support ~392 | 2H Kijun
System evaluation of hedge tomorrow
5. Incubation
SPCX
System Insight
Very important to see GOOGL TSLA ER reactions —> signal on whether potential QQQ interim top is forming. That said —> price structure will guide us.