Chapters
00:00 Intro: Two in a Row
02:07 Ben: The Week in Review
03:40 Nick: Apple and Amazon Drive the Week
04:10 GP: Fear Without the VIX
06:42 Nick: A Stock Picker's Market
09:16 GP: Watch for Follow-Through
13:26 GP: The 297.45 Pivot
15:01 GP: The Weekly Nine Curls Up
18:34 GP: Three Gap-Ups and the Dollar
22:09 Nick: Amazon's Gap Fill
23:44 Ben: Three Out of Six Mega Caps
25:18 GP: Netflix Sets the Tone
27:50 Ben: Tesla Clears the Nine Weekly
28:52 GP: Tesla's 627 Low
29:54 Meta's Pivot
33:30 Bitcoin's Key Levels
37:09 GP: Monthly Charts and Prior-Month Pivots
38:43 Vertex and the XBI
40:16 GP: HYG and LQD Change Character
42:18 Ben: Oil and KWEB
44:24 Viewer Picks: REITs and Goldman
46:27 Home Depot and Costco
48:34 Gold and the Miners
50:09 Futures Open Calls
52:41 Roblox and Wrap-Up
Market Hours #32 went out live on Sunday, July 24, with Ben, Nick and GP, heading into Fed week and mega cap earnings. Nick said Apple and Amazon would drive the week, and GP pointed to the QQQs reclaiming the 297.45 pivot as the weekly nine curls up. The three also covered why hedges keep losing, Amazon's gap fill, Netflix setting the tone, Tesla's earnings move, Bitcoin's levels, monthly pivots, the XBI, corporate bonds, oil and KWEB.
Nick's setups, levels and trades
Nick said Apple and Amazon are "going to be the biggest biggest driver this week," and "i think it has less to do with the fed." "It's going to be a very like stock pickers market in terms of like there's still names that are probably going to continue to get absolutely punished like snapchat." Amazon "broke out," and "i think it's going after that gap fill," with "170 on amazon" possible "in the next few months." On Bitcoin, "i still think the crypto space in general is still going lower from here." For the XBI, "as long as it holds above like the mid 70s it's gonna still look good the 50 days curling up."
Ben's setups, levels and trades
Ben said the S&P was "up more than two and a half percent," the Nasdaq "up 3.4 percent" and the Russell "3.6 percent." With the mega caps, "you're never" going to get all six working, and "three out of the six is better four out of the six is great." Tesla "was riding under that nine weekly and strong earnings pushed it back above the 21 and the 50," so "i think tesla looks great right here too." On Bitcoin, "anywhere north of there on a weekly close is a positive thing," and "28 000 is the bottom of my blue box right here." "I think 28 is a a reasonable level," and "if you're really wanting to push it you might get 30 out of it." On oil's drop, "if only someone saw it coming." KWEB "rejected the first test of the monthly nine since february 2021," and Alibaba "looks like a short."
GP's setups, levels and trades
GP said there's palpable fear in the market, but the VIX doesn't show it, and "it's been hard to be a hedged person in this market because you got destroyed." "Every time we have one day down or one reversal down the noise" about a collapse "just gets exorbitantly louder," but "intraday or daily reversals aren't that to me aren't that important it's to see if there's follow-through." "297.45 that's the pivot yearly low on the" QQQs, "and we reclaimed it we held it and we're still holding it." "The weekly nine is now curling up," and it's "the highest close since what like may 23rd." The dollar's "june 13th that's your first warning shot." Netflix "flagged under there for five or six weeks and then we pushed higher on pretty solid volume," and "i think it sets our tone." Tesla "held that 20 20 s p inclusion candle twice now that low that is 627 low." "You got to start looking at monthly charts," because it's "nice to see apple and tesla taking out their prior month pivots." HYG is "corporate bond that's that's saying hey okay like this is investible again," and LQD shows a "change of character."
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