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What I’m Watching for the Week Starting Nov 28, 2022 

 November 27, 2022

By  spectre_trades

Trades This Week!

Last week started off good put volume/great risk/reward opportunities tapered off quickly.

Definitely not the best week we have had but still managed to find some great trades.  

The important thing was keeping losses small.

(Disclosure:  Simulated Results based on Plans shared, Actual Execution and Results May Vary) 

Stocks I'm watching this Week

TSLA - Reclaimed 180, but 200ma on hourly acting as ceiling

Positives

  • 180 Reclaim
  • many traders scooped sub 170
  • Twitter reaction may be fading

Negatives

  • Rejected 186 overnight and under 200ma on hourly

Plan

Watching dips this week either on 180 to hold targeting 190-195

SPY - Reaction to 200dma 

Negatives

  • Multi-month Trend line at 409
  • 200dma at 406
  • Rates still increasing
  • Record Thanksgiving Sales(may get negative reaction) 

Concerns

  • Market acting like it wants higher despite rate increases
  • Recipe for a short squeeze may develop

Plan

406 and 409 are key levels I'll be watching for short entries targeting end of Jan for payout

NOTE:  Looking at 3600p for Jan for $10 if I can get filled

EVENTS This week

Economic calendar:

Nov. 28: Dallas Fed manufacturing activity index

Nov. 29: Conference Board consumer confidence; FHFA house price index

Nov. 30: ADP employment; MBA mortgage applications; third-quarter gross domestic product; wholesale and retail inventories; pending home sales; JOLTS jobs openings;

Dec. 01: Personal income and spending report, including PCE; weekly jobless claims; ISM manufacturing

Dec. 02: Monthly jobs report


Fed calendar:

Nov. 28: New York Fed’s John Williams; St. Louis Fed’s James Bullard

Nov. 30: Chair Jerome Powell; Governors Lisa Cook and Michelle Bowman

Dec. 01: Vice Chair for Supervision Michael Barr; Dallas Fed’s Lorie Logan; Bowman

Dec. 02: Chicago Fed’s Charles Evans



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Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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