THE BIGGEST 2 WEEKS OF THE ENTIRE YEAR

Summary

In this stock market analysis, Tom from Stocked Up discusses the mixed performance of the S&P 500, noting the downturn of major tech stocks like Google, Meta, Microsoft, Apple, and Nvidia despite some sectors showing gains. He highlights July's historical strength in the market, especially the first half, and shares key levels to watch for the S&P 500 index, including the resistance at 550. Tom also covers specific stocks like Chewy, Tesla, and Nvidia, and discusses the potential impact of election-year dynamics on the market. He wraps up with big money plays and upcoming economic events, including Jerome Powell's speech.

Takeaways

• 📈 On Friday, 54% of the S&P 500 stocks were in the green, but big tech stocks like Google, Meta, Microsoft, Apple, and Nvidia were in the red.
• 🔍 There was a significant presence of gray on the heat map, indicating stability or minor changes across various sectors, with oil, bank, and financial stocks performing well.
• 📉 The S&P 500 ETF (SPY) closed down 0.39% on Friday, despite some sectors showing gains.
• 🌟 Historical data suggests that July is the best month for the stock market over the past 20 years, especially the first half of the month.
• 📊 SPY showed a double top pattern around the key resistance level of 550, which will be crucial to watch in the coming week.
• 📈 The first two weeks of July have been the best two weeks for the stock market since 1950, based on historical data.
• 📉 Concerns are raised as tech stocks like Nvidia are starting to fall, with a potential rough start to July if the downturn continues.
• 📊 Nvidia's daily chart shows recovery during the week followed by a downturn on Friday, with key support levels around $118-$120 to watch.
• 📈 The script also highlights the performance of other tech stocks like Apple and Microsoft, which were doing well until the Friday selloff.
• 🔑 The importance of watching the upcoming week for potential market movements, especially considering the historical strength of July.
• 🎯 The video also discusses specific stocks to watch, like Chewy (CHW), which had significant price movement due to recent news and events.

Q & A

What percentage of the S&P 500 was in the green on the mentioned Friday?

On the mentioned Friday, 54% of the S&P 500 was in the green.

Which big tech stocks were mentioned to be deep in the red?

The big tech stocks mentioned to be deep in the red were Google, Meta, Microsoft, Apple, and Nvidia.

What was the overall performance of the SPY on Friday?

The SPY closed down in the red, with a decrease of 0.39% on Friday.

What is historically the best month for the stock market in the past 20 years?

Historically, July is the best month for the stock market in the past 20 years.

What is special about the first half of July in terms of stock market performance since 1950?

The first half of July is historically the best two weeks in the stock market since 1950.

What is the key resistance level for the SPY that is being watched?

The key resistance level for the SPY being watched is 550.

What is the major support level for Nvidia that should be watched?

The major support level for Nvidia to watch is around 122 to 123.

What is the significance of the $200 mark for Tesla stock?

The $200 mark for Tesla stock is significant as it acts as a psychological level and is a key resistance level to watch.

What is the ticker symbol for the big money play mentioned in the script?

The ticker symbol for the big money play mentioned is PTEEN (Patterson UTI Energy).

What is the significance of the $10 level for PTEEN stock?

The $10 level for PTEEN stock is significant as it is a key support level and a psychological level, similar to how $200 is for Tesla.

What are some of the key events and economic indicators to watch for in the upcoming week according to the script?

Some key events and economic indicators to watch for include ISM Manufacturing PMI, JOLTS job openings, ISM Services PMI, FOMC minutes, non-farm payrolls, and unemployment rate. Additionally, Jerome Powell's speech at the European Central Bank Forum is also significant.

Outlines

00:00

📉 Tech Stocks Drag Down the Market

In the latest video, Tom from 'Stocked Up' discusses the mixed performance of the S&P 500, noting that while 54% of the stocks were up, major tech names like Google, Meta, Microsoft, Apple, and Nvidia were down significantly. Despite this, some sectors like oil and financials showed strength. The S&P 500 (Spy) closed down 0.39%. Tom highlights the historical performance of the stock market in July, which is typically the best month over the past 20 years, and encourages viewers to watch for potential market movements, especially given the current downturn in tech stocks.

05:00

📈 Historical Data and Key Stock Levels

Tom provides a detailed analysis of the S&P 500's historical performance, emphasizing the strong performance in July and the first half of the month, which is historically the best two-week period in the stock market since 1950. He discusses the Spy's technical levels, noting the resistance around 550 and support around 540-544, and the potential for a double-top pattern. Tom also mentions the importance of watching tech stocks like Nvidia, which could influence the market's direction, especially if they recover from recent lows or break below key support levels.

10:03

🚀 Chewy's Volatility and Upcoming Market Events

Tom discusses the significant movement in Chewy's stock price following news with 'Roaring Kitty', which saw the stock spike to $39 before retreating. He suggests keeping an eye on Chewy for potential short-term opportunities. Additionally, Tom outlines key levels for the Spy, including resistance at 550 and support at 542-544, and discusses the upcoming market events, such as Jerome Powell's speech at the ECB forum, economic indicators like ISM Manufacturing PMI, and the impact of the Independence Day holiday on trading hours.

15:04

🛑 Market Dynamics and Big Money Plays

The script touches on the market's reaction to the all-time high bounce and subsequent drop, suggesting potential fear in the market on Monday. Tom mentions the importance of watching for a break above 546 and 547 as a positive sign. He also highlights big money plays, such as Patterson UTI Energy (PTEN), where significant investment in call options suggests potential upside. Tom appreciates the community's engagement and promotes the premium Discord channel, offering a discount with the code 'big money'.

20:04

🎉 Member of the Day and Upcoming Market Insights

Tom celebrates 'Mortgage Rider' for a successful trade on Tesla puts, which resulted in substantial profits. He encourages others to share their profits and testimonials. The script concludes with a reminder of the short week due to the Independence Day holiday, an early market close on Wednesday, and the significance of Jerome Powell's speech. Tom expresses optimism for the week ahead and promotes the premium Discord channel for exclusive trading insights and tools.

Keywords

💡S&P 500

The S&P 500, or Standard & Poor's 500, is a stock market index that measures the stock performance of 500 large companies listed on stock exchanges in the United States. It is often used as a benchmark for the overall U.S. stock market. In the video, the speaker refers to the S&P 500 to discuss the performance of a significant portion of the U.S. stock market, noting that 54% of it was in the green, indicating a positive performance.

💡Big Tech Stocks

Big Tech Stocks refer to the shares of large technology companies that have a significant influence on the stock market due to their size and market capitalization. Examples mentioned in the video include Google, Meta (Facebook), Microsoft, Apple, and Nvidia. The script discusses how these stocks were in the red, meaning their prices fell, affecting the overall market sentiment.

💡Heat Map

A heat map is a data visualization tool that uses color to represent the distribution of data points. In the context of the video, the heat map is used to visually represent the performance of different sectors in the stock market, with the speaker noting that big tech stocks were 'deep in the red' while other sectors showed some gains.

💡Sector Performance

Sector performance refers to the overall trend or change in the value of stocks within a specific industry or category. The script mentions that while big tech stocks were down, sectors like oil, banking, and financials did well, indicating a mixed performance across different market sectors.

💡Spy

Spy, or SPY, is the ticker symbol for the SPDR S&P 500 ETF Trust, an exchange-traded fund that tracks the performance of the S&P 500 index. The video discusses the performance of the Spy, noting that it closed down 0.39% on Friday, reflecting the overall market trend.

💡Resistance Level

In technical analysis, a resistance level is a price at which an asset has historically struggled to move above. The script mentions a key resistance level of 550 for the Spy, indicating that this is a significant price point that the market will be watching for potential breakouts.

💡Historical Data

Historical data refers to past records or statistics that can be used for analysis or comparison. The speaker uses historical data to highlight July as the best month for the stock market in the past 20 years, suggesting that this historical performance could influence expectations for the current month.

💡Nvidia

Nvidia is a major technology company known for its graphics processing units (GPUs) and is a stock that investors follow closely. The video discusses the performance of Nvidia, noting a potential downturn if its price breaks below a certain level, indicating concern among investors about its future performance.

💡Seasonality

Seasonality in finance refers to patterns in trading or returns that occur at certain times of the year. The script mentions the seasonality of July, highlighting the first half of the month as historically strong for the stock market, which could influence trading strategies.

💡Election Year

An election year refers to a year in which significant political elections occur. The video discusses the performance of the stock market during election years, noting that the current year is one of the best in history according to some reports, which could have implications for market behavior.

💡ISM Manufacturing PMI

The ISM Manufacturing PMI (Purchasing Managers' Index) is an economic indicator that reflects the activity level of the manufacturing sector. The video mentions the release of this data as an important event for the upcoming week, as it can influence market sentiment and investment decisions.

💡Federal Reserve

The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. It plays a crucial role in setting monetary policy, which affects interest rates and the economy. The video mentions Fed Chair Jerome Powell's speech at an ECB forum, indicating that his comments could have a significant impact on the market.

💡Momentum

Momentum in finance refers to the rate at which the price of an asset is changing over time. The speaker discusses the momentum of the market and specific stocks, such as Microsoft and Apple, suggesting that their recent performance could influence future price movements.

💡Support Level

A support level is a price at which an asset is expected to find a stop on its decline. The script refers to support levels for the Spy and other stocks, indicating that these are critical prices to watch as they may indicate potential reversals in the market trend.

💡Big Money Plays

Big Money Plays likely refer to significant investment moves, often by large institutions or investors, that can influence the market. The video discusses a big money play involving Patterson UTI Energy, highlighting how large investments in call options can signal bullish sentiment.

Highlights

On Friday, 54% of the S&P 500 stocks were in the green, but big tech stocks like Google, Meta, Microsoft, Apple, and Nvidia were down.

Despite the mixed performance, the market is heading into the historically best month for stock performance over the past 20 years.

The S&P 500 (Spy) closed down 0.39% on Friday after showing good upward momentum earlier in the week.

The first half of July is historically the best two weeks in the stock market since 1950.

Nvidia's stock performance is a concern; a downturn below $118 could signal a rough start to July.

The second half of July also shows positive historical performance, suggesting a strong month ahead.

Chewy (ticker symbol CHW) had significant price movement due to news with Roaring Kitty, peaking at $39 before closing down 6.2% on Friday.

Key resistance levels for the S&P 500 (Spy) are around 550, with significant support around 542-544.

The energy sector, including stocks like Patterson UTI Energy (PTEN), may perform well as the Fed cuts rates.

Meta (formerly Facebook) is being watched for potential moves in both directions, with key levels at $504 and $510.

Qualcomm and Pen are being considered for upward momentum if they break above certain resistance levels.

Matterport, a stock that benefited during COVID, is showing bullish inflows and could be a potential short-term play.

Tesla is a focus, with the $200 mark being a significant psychological and technical resistance level.

Big money has invested in PTEN call options expiring in November 2024, indicating a bullish outlook on the energy sector.

The market will be closed on July 4th for Independence Day, with an early close at 1:00 p.m. on July 3rd.

Federal Reserve Chairman Jerome Powell will speak at an ECB forum, which could influence market sentiment.

ISM Manufacturing PMI and Services PMI, as well as non-farm payrolls and unemployment rate, are key economic indicators releasing this week.

The channel's community member Mortgage Rider made significant profits with Tesla puts, showcasing the potential of the discussed strategies.

Transcripts

[Music]

what's up guys it's Tom with stocked up

and on Friday 54% of the S&P 500 was in

the green but looking at the heat map

you can obviously see that the big tech

stocks out there were pretty deep in the

red Google meta Microsoft Apple even

Nvidia closed down in the red now

they're was a lot of gray across the

board you can see that a lot of these

oil stocks uh you know the bank stocks

financials did pretty well overall so we

did see some green throughout some

sectors but obviously those big tech

stocks wore down on the market and the

Spy actually closed down in the red down

0.39% on Friday and all this is

happening is we're heading into the best

month in the stock market in the past 20

years that is a pretty big statement

we're going to have a lot of awesome

information and statistics today's video

so make sure that you stick around but

first things first I wanted to recap the

spy from last week uh pretty much all

week long the Spy was just chopping

around but on Thursday and Friday we

started to actually see some good

upwards momentum and the Spy got pretty

close to all-time highs again if we zoom

out a little bit spy is actually double

topping around this key 550 resistance

this is going to be a very big level to

watch for this whole entire week and

we'll talk about it in just a little

while but as we get and and as we and we

head into Monday we're going to actually

have a pretty big month ahead of us so

it's going to be the first day of July

and looking at this chart here you can

see that the first half of July is

actually the best two weeks in the stock

market since 1950 so not only out of the

past 20 years is July the best month in

the market but the first two weeks of

July are historically over the past 50

years the best two weeks out of the

entire year so definitely pay attention

the first two weeks of this month coming

up here like I said Monday kicks off

July hopefully we see the Spy get some

good movement and run up and break above

that key 550 resistance but I really

love looking at this historical data and

even the second half of July isn't too

bad either over the past uh you know

however many years since 1950 right but

that is a very interesting statistic I

really like to see that you know this uh

this is kind of supporting a very strong

July right I know a lot of people right

now are pretty worried and scared as

they're starting to see some of their

favorite tech stocks like Nvidia

actually start to fall over a little bit

you know if we go out to the Nvidia

daily chart I mean last week was okay it

started recovering up a little bit if

you go from Monday to Friday I mean not

really the best overall so if we do see

a more of a downturn this week and ends

up breaking under 118 that's going to be

a pretty rough start to July hopefully

we don't see that happen but if we

continue to see a good recovery off of

this recent low around 118 to 120 and we

keep seeing good pushes higher

especially out of the other tech stocks

in the market as well like apple

Microsoft and others which had been

doing very well until Friday that move

Friday was pretty rough so hopefully

July can kick off well on Monday and we

can start to see a good recovery out of

these tech stocks and it can kind of

support some of the seasonal uh

statistics that we are looking at here

but here's another chart of July showing

how it's the best month out of the past

20 years I think that that's a very

important statistic as well you can see

that in the uh blue bar here that's

what's representing the past 20 years

now the last chart we looked at went

back to 1950 you can still see that

that's the yellow bar but 1950 is

honestly still pretty good too

statistically obviously the past 20

years it's been the best month in the

market right in the past 10 it's pretty

close you know November uh November

almost Takes the Cake there on the right

but uh nonetheless it's very good to see

that with July December on the end looks

uh looks pretty rough and obviously the

beginning of the month which we talked

about or I mean the beginning of the

year February is actually pretty rough

uh May is kind of flat usually but man

once you get to like July and November

those two months have been historically

very very strong so pay attention this

month it's going to be a big month for

the market historically uh it's pretty

damn good so uh hopefully we continue to

see this good bullish price action I

know that there's been a lot of buying

lately I know Friday doesn't support

that but if we go to like m Microsoft

and look back over the past couple weeks

couple months it's been ripping back up

even apple has a very similar very

strong chart here in the short term I

know that uh like I said Friday

obviously was a pretty bad downturn

though towards the end of day

specifically it got pretty rough and

we're definitely going to talk about

that here in just a little while but

first I wanted to hit on a key stock

that had some pretty crazy movement

towards the end of last week and that is

chewy ticker symbol chw I know that

there was some pretty big uh Revelations

with roaring Kitty and chewy last week

and we saw the stock actually shoot up a

ton off of that up to $39 but obviously

you can see it came roaring back and it

was actually down

6.2% on Friday and I really wanted to

hit on chewy because there was that big

news with it last week so you know

there's not really too much that I'm

looking at here with Chewy I'm really

just looking for more good momentum to

come into this stock you know especially

with all the hype that came through

there on Thursday you know it's just

something just to keep on the radar you

know and chewy has actually been moving

very well on its own recently before

that happened as well so uh it's just

one of those stocks that keep on the

radar for this week if we do start to

see some good inflows or something along

those lines I think Chewy could be a

very fun and awesome stock here to look

at in the shortterm but going back to

the Spy there's some pretty key levels

coming up I already talked about the 550

resistance here and that's going to be a

big spot to watch this week but there's

also a big support coming up as well I'm

going Circle that in blue there's been a

lot of touches and price action around

the 540 uh 542 to 544 supports I know

over the past couple weeks I've

mentioned 544 a ton and the Spy pretty

much fell down to there on Friday that

was a pretty good fall all the way down

from touching that 550 resistance so

there was a pretty massive pullback

there and I would attribute that to most

of the tech stocks pulling back pretty

largely there as the uh market closed

Friday but looking at the Spy I'm

definitely going to be watching five 42

as the first major support coming up

after we truly break 544 and I will say

I'm also watching 543 I'm going to

circle some of the hits on the chart

that are right around that 543 area

those will be very important to keep on

your radar over the next couple days and

couple of weeks uh to the upside though

I will say 550 is actually pretty far

away if we're going to look at more

resistances here I do like 546 and then

even 546 80 to 547 I really like that

area if the Spy were to come up and

retest that and then start to drop that

might be an area where you look at maybe

a a short opportunity or even a breakout

if we do see good inflows it will depend

on how the tech stocks and Etc are doing

on that day but overall those are the

levels I'm looking at with spy hopefully

we can get up and break that 550

resistance like I said to support some

of this July data I mean I still can't

believe that this is the best two weeks

out of the entire stock market since

1950 right at least out of the S&P 500

so I think that that is a very very

interesting statistic and also I wanted

to look at some of these uh tech stocks

here like Nvidia cuz uh this is going to

be a pretty big topic and I think

there's going to be a big war in the

comments tonight uh I think most people

are going to be looking at Nvidia to the

upside but I will say uh you know it was

pretty flat last week there's a major

support here around 122 uh to 123 more

around 123 last week uh but we have seen

hits around 122 recently as as well but

pretty much if we start to break under

this major level it's not going to be

good so uh I'll definitely be watching

this area very closely there was a ton

of hits last week I don't even think I

can count them all it was like 7 to 10

right there within that blue circle so

if we start to break under 123

definitely watch Nvidia a little bit

more to the downside of course though if

we bounce off support and start moving

up uh obviously watch it to the upside

as well and I'll especially be watching

some of these other big tech stocks like

apple Microsoft and other too as that

selloff was pretty massive but getting

into the next thing here we are in an

election year and I know that last week

was no shortage of election year news

right we had the debate between Donald

Trump and Joe Biden I just won two Club

championships I got my handicap down to

a six but looking at the statistics for

this election year this is actually one

of the best election years in history I

saw a lot of reports saying that this

was the second best one and looking at

the seasonality here here this is

actually pretty awesome so uh right now

we are in the pink line and now I will

say this is awesome because we've been

in such a great year right but one thing

to look at is you know are we due for a

little mean reversion I really like this

chart here it's showing where the uh

where the market usually runs here you

can see all lection years are in the uh

black line and I'm starting to think

like hey you know like what if we do

start to trade more towards the black

line or the green line which represents

where the sitting president pres running

so uh I'm kind of looking at you know

something like hey are we going to see a

bit of a pullback cuz this is one of the

best election years in history now I

know that that's something that uh a lot

of people will think and you know

personally I think that it could go both

ways right now I really like to follow

the momentum you know I know that in the

short term spy has a pretty big

resistance around 550 some people might

be trying to call the top here I think a

lot of people try to pull out their

crystal balls with uh with calling the

tops and stuff like that but looking at

the market right now uh my big thing is

hey what are the tech stocks doing right

uh in the short term they've still been

doing pretty good I know that Nvidia

isn't necessarily at all-time highs

right now but it's not very far off

either whenever you consider uh you know

the overall move that nvidia's had so

I'm definitely going to keep watching

these tech stocks into this week and of

course throughout this election year but

I do find these election year statistics

to be pretty interesting especially

considering that this is like the second

best election year in history so I'm

definitely going to continue to watch

the election year and of course uh you

know we're not going to get overly

political or or anything like that with

these stocks but there is a djt which

follows like Trump Media Group so this

will be an interesting one to watch as

the year progresses but how could we go

any further without looking at some of

the big events that are coming up this

week and there's going to be quite a few

of them so firstly I wanted to look at

the earnings cuz there's really nothing

on the calendar you can see it's pretty

empty overall besides stz on Wednesday

but this is going to be a short week so

keep that in mind uh there will be no

trading on Thursday July 4th for

Independence Day and you can see that

there's actually a little star right

there by July 4th what does that mean if

we go down here that means that the

market will close early at 100 p.m.

eastern time on Wednesday July 3rd 2024

so there will be a early close on

Wednesday and then the market will be

closed on Thursday July 4th and it will

actually be open on Friday so keep that

in mind I know a lot of people might be

hung over that morning but uh

nonetheless it's going to be still a

pretty awesome trading day on Friday

there so make sure that you are around

and up and ready for that but we also

have a pretty big event this week with

Jerome Powell speaking now you can see

on the trading economics calendar they

put down fed chare Powell speech but

don't worry guys I got you on the

Federal Reserve website he's actually

going to be speaking at an ECB or

European Central Bank forum and there's

going to going to be us another keynote

speaker there as well which is lagard or

lagard yeah yeah sorry guys I'm not good

with these names but nonetheless uh he

will be with her doing a uh a forum

there with the European Central Bank so

keep that in mind but uh there are a

couple other events this week as well

ISM Manufacturing PMI comes out at 10:00

a.m. eastern time on Monday there is

jolts job openings Tuesday at 10:00 a.m.

and then as we go through the week

Wednesday ISM Services PMI as well as

the fomc minutes and then Friday we have

the non-farm payrolls and unemployment

rate so there is quite a bit for

tomorrow just focus on the ISM

Manufacturing PMI and then Powell on

Tuesday we'll cover the rest as the week

progresses but going into the setups and

plays for tomorrow I'm looking at Tesla

and this is a pretty interesting stock

here in the short term as they're right

around the key

$200 Mark now $200 is huge on pretty

much any stock because it's a number one

a whole dollar level and that acts as a

big psychological level in general so

looking at the book map here you can

also see that it's pretty key on the

book map 200 was pretty big on Friday it

even broke as Tesla fell throughout the

day on Friday and then you could see

that the sellers came back in and kind

of reestablished right there so now

we're going to be watching 200 as a

solid resistance this week do I think

the Tesla can keep running above 200 in

the short term I definitely do but does

does it kind of suck to see Tesla under

200 also in the short term yes so I will

be waiting for a true good breakout back

above 200 and then maybe look for a

bigger breakout up towards 203 to 205

but that's really what I'm looking for

this week will Tesla get back above 200

and continue up on this trend if you

guys like this play and you just like uh

Tesla back above 200 let me know in the

comments I know there's a lot of people

bullish on Tesla here in the short term

you can see it's actually been doing

pretty good on the daily in the short

term I am watching though the mother of

all trend lines that's coming up here I

mean this trend line on Tesla has been

in play for a couple years now and uh

it's really failed to break above there

1 two 3 four five six like seven times

so definitely a big spot but uh I'll be

watching that one and then with my

second play I'm actually looking at

matterport this is a bit of a weird and

different stock for us here on the

channel we haven't looked at it in a

long time it's one of those stocks that

did amazing during covid you can see on

the weekly chart uh you know I guess

after covid right it really benefited

and started ripping to the upside ran up

to 37 on the chart and fell all the way

down to lows of like

a175 I mean I can't even believe I'm

saying it that it got that low but look

at this weekly chart and even the daily

chart in the short term we're starting

to see a lot more bullish inflows here

especially on Friday we saw the volume

pick up and we saw a nice 8% move so

keep watching matterport to the upside

in the short term this this could even

be a good uh share opportunity it's a

pretty low price stock and you know a

move from now this is going to blow a

lot of people's minds but a move from

$4.50 up to $5 is like 11% you know I

mean that's pretty decent for shares if

you're looking for a move up in the

short term and I'm sure a lot of people

are looking for an even larger move than

that so keep matterport on the radar I

do like it quite a bit but now let's get

right into the momentum

plays and with the first one we're

looking at pen gaming to the upside for

tomorrow pen has been pretty hot in the

short term and it's right around a key

$20 resistance if it can break above 20

I will look at it to the upside for

tomorrow that's going to be a big level

to watch for with the next stock I'm

looking at qualcom it's a chip stock

it's actually been down a little bit in

the short term but it's sitting right on

the $200 support so if it breaks above

2011 come tomorrow morning I'll keep

looking at qualcom back up I love the

way it moved Friday I thought it had a

pretty strong move especially compared

to a lot of those big tech stocks that

fell off towards close that was a pretty

bad close for many of those and then

with the final play I'm actually looking

at meta in both directions So Meta is a

pretty wild one I like looking at this

one in both directions quite a bit

because they has pretty wild moves all

the time and this is actually one of

those stocks that fell off quite a bit

on Friday around close so if we see a

pullback under 504 I'll keep looking at

meta to the downside closer to around

$500 and if we do see a pullback back

above 510 then I'll look at it back to

the upside I will say though with the

way it moved Friday and the way it

closed I don't know pullback above 510

uh in this type of Market not very

unrealistic but I don't know it's not

something that I think will happen right

away I would definitely make it break

510 with some pretty good momentum there

if you do see it break but nonetheless

those are the three stocks I'm watching

meta qualcom and Pen um obviously meta

both directions qualcom and Pen both to

the

upside but with our big money play for

today we're looking at ticker symbol

pteen Patterson UTI energy this is a

pretty interesting Energy stock overall

it went up

1.97% on Friday which I thought was

pretty good now this big money play uh

the big money put $756,000

into the 11 strike calls that expire in

nov November so more specifically

November 15th of 2024 this is going to

be a pretty big opportunity I love how

pteen is right at support I think that

that's going to be a very deciding

factor for a lot of people on this play

uh personally I really love it when the

big money plays are bouncing off

supports we've seen a lot of great

support buys with the big money over the

past couple years you know we've seen a

lot of them we've we've uh obviously

done a lot of big money plays on the

channel and I really love these support

opportunities this support is prettyy

key and it's right around the key $10

level not only is that key on the chart

and it lines up but it's a very big

psychological level kind of like $200

with Tesla so I really do like 10 on

pteen I like this big money play quite a

bit it's in the energy sector as well

and we've looked at some stats that kind

of show that like hey the energy sector

does pretty well after the FED start to

cut rates so I will uh be watching pteen

to the upside I like this a lot there's

a good support around 10 like I said and

the reason that that's awesome is you

can kind of throw a good uh stoploss

around $9 and. 50 cents or so if you see

a true breakdown there uh you know you

can get out but other than that I really

like the risk reward to the upside you

can maybe Target like $12 or even 13 I

believe over the next few months if we

do see energy start to really rip and

when this stock bounces off this support

some of these moves are no joke here uh

some of these previous moves off support

have went up like 61%

another one here that got really close

to support up like 84% so we're

definitely seeing some good movement out

of this stock off of this level keep it

on the radar for the next couple days

and even for the next couple of weeks

this is a pretty long big money play it

goes all the way out to November 15th

it's not like they're probably looking

to buy and sell it right away so keep

that in mind they will probably hold it

for a little while off of this support

and look to really capitalize on some

more of that upside movement there but

getting into our memb the day today

shout out to mortgage rider for the

awesome Post in the profits Channel this

was an awesome play he got some Tesla

puts or they had some Tesla puts on

Friday we saw some pretty good price

action they made around almost 10 grand

$99,900 so that was a fantastic play by

mortgage ryer I appreciate you posting

up in the profits Channel as well and of

course if you guys want to get member of

the Day post up some profits or a nice

testimonial on the testimonials channel

uh would be awesome as well but overall

this is a pretty crazy week you know

we're going to have a a big one coming

up uh it's going to be a short one

that's going to be a thing that might

throw some people off don't forget about

the holiday on Thursday the market will

be closed and then we will have an early

close on Wednesday as well and then of

course the man the myth the legend

Jerome Powell will have that ECB speech

at 9:30 a.m. eastern time on Tuesday at

that uh European Central Bank Forum so

keep that in mind we're going to have a

pretty big week as far as that is

concerned and then of course the Spy

bounces right off the all-time high on

Friday and comes roaring down you know a

lot of people are going to be watching

stocks coming Monday morning with that

big move down I think there's going to

be a little bit of fear there in the

market but definitely watch it uh if we

see a good break back above like 546 and

547 that'd be a pretty good sign so

hopefully we see that come Monday

morning but I really appreciate you all

you all joining up if you want to join

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going to be a lot more set to release as

well so join up now uh you will be

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let's have a fantastic week in the

market make sure you smash that like And

subscribe button if you are new but

overall let's crush it this week