One of the uglier charts I have seen but I love the story. Hard to find the right entry with this one but I started with a couple Jan calls here. Could see the small cap momentum continuing and Callaway has been making all the right moves. They just opened another top golf location in Florida recently too.
It looks like Target is breaking down once again, after consolidating for months. I was originally looking to go long but I opened a small put position for September.
We are clearly not in a down trend or a bear market.. but we have all important earnings past us, rate cuts aren’t coming soon, and we couldn’t break this key level.
Could end up breaking 4200 if the trend holds but sellers are strong at that level. Earnings are past us and the s&p won’t get a boost bigger than that last week.
This looks like it could break below trend, which could be because of the strong jobs market… but rates have nowhere to go but down. I will be buying 3 month calls on TLT Monday morning.
