$NNE $OKLO $SMR - This is aging really well. Hitting upside swing targets yesterday and moving the Monthly chart higher - I like this back into 36-39 area. Let's see how earnings goes
I'm seeing a ton of potential transitions in the nuclear sector. $NNE $OKLO $SMR all getting a nice pop and break of weekly down-trend lines like the image below. I'll be stalking these for entries on a pullback.
Interesting close on the $SPX today with a tight range. A drop tomorrow could really move lower. $DJI still not in ATH yet so I'm still leaning bullish. A pullback would be great!
A lot of people don't understand "extended" when it comes to the markets. "Typically" the $SPX, $NDX or any other index doesn't stray too far from the 8ema on the daily. As of Friday's highs, the $SPX is about 2.9% or 208+ points away. This means a 200 pt drop would be normal.
This is an interesting "lotto" trade for tomorrow am.
$SPX 7k strike has open interest of 100,420 on the call side & 93,470 on the put side. This represents about $135.72 B worth of options expiring tomorrow.
A $20 wide put butterfly is only $2.50 right now & could pay $1750.
BREAKING: The SEC has reportedly eliminated the Pattern Day Trader rule, replacing it with a new intraday margin system.
The requirement to maintain a $25,000 balance to engage in day trading is being scrapped.
Fun fact on the $SPX each time we have seen a quarterly engulfing lower over the last 7 years, it has been for a Q1 (2020, 2022, 2025) and resulted in at least a 14% continuation move lower with the average being an 18.8% drop. $es $nq
Going through my weekly scan for next week & found this potential bullish trade in $SEDG - the weekly, mthly, & Qrtly look great for a move into 58.8, 71.27 - it's a little extended on the daily entry, but considering the bearish market...not a bad long idea. Stop under 46.
Could you have known the $SPX & $NDX would drop so hard today? YES! Check out this double harami on the $nq daily and then on the $es & $nq 1 hr
$DJI & $SPX going quarterly engulfing today like we talked about in January. $NDX with a turn on the quarterly as well....it could get really interesting here.