SPY ETF Approaches Critical 284 Level 8-6-18

SPY ETF 8-6-18

SPY ETF 8-6-18

It’s trade wars versus earnings season, so far earnings season holds the trophy.

The SPY ETF approaches $284 this morning with all-time highs in it’s sights.I remember back in the day when nothing happened during August. You could safely go on vacation and not miss a thing.

No anymore.

Swing trades in the indices continue to frustrate but stock specific ideas have generated plenty of cash flow. Could we hit resistance this week and fall back to 280 in the SPY? Yes of course, BUT…

You better be ready to make your month if we break through.

No excuses. Better you are prepared for an opportunity that never comes than not prepared for one that does. Forget the calendar, read the tape.

MOS The Mosaic Co 8-6-18 Before Earnings

MOS The Mosaic Co 8-6-18 Before Earnings

Mosaic (MOS) to Post Q2 Earnings: What’s in the Cards?

The Mosaic Company (MOS) is set to release second-quarter 2018 results after the market closes on Aug 6.

The fertilizer maker swung to a profit in the first quarter, aided by higher realized prices for nutrients and improved market conditions. The company logged a profit of $42 million or 11 cents per share, against a loss of $1 million or break-even per share recorded a year ago.

Adjusted earnings of 20 cents per share for the first quarter, however, trailed the Zacks Consensus Estimate of 24 cents.

Adjusted earnings were affected by a delayed spring season and weather-related issues that hurt sales volumes for phosphate and potash in the quarter.

zacks.com/stocks/mosaic-mos-q2-earnings

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Today's Trade of the Day | 8-6-18

JPM JP Morgan Chase 8-6-18

JPM JP Morgan Chase 8-6-18

JPM - JP Morgan Chase order flow solidly in place ans the stock price approaches the $118 level. With 2 well-bid days under it's belt I'm expecting one more day of cash flow trading then a pause at the resistance. After this pause I'm game planning a new swing trade long with an ultimate target of $126. Keep it in your tracking journal after today's momentum trade slows down.


Stocks to Trade | Monday Edition 8-6-18

Bullish Cash Flow Trades: DISH, KHC, TNFM, IBM, GIS, K, PBF

Bearish Cash Flow Trades:tsro, iq, cxo, htht, bzun, atvi, nlsn, spot, exas, etsy, crzo

New 20 Day Breakout: KHC, TNDM, GIS, CPB, ZTS, TSLA

New 20 Day Breakdown: tsro, nbl, atvi, lng

Double Normal Volume: AABA, TSRO, ATVI, TWO, TNDM, LNG

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HEADLINE NEWS

Apple’s new iPhones could face chip delays after a major supplier is hit with a computer virus
https://www.cnbc.com/2018/08/06/tsmc-virus-worries-over-apple-iphone-chip-supplies.html

Trump’s trade ‘extortion’ won’t work, China state media says
https://www.reuters.com/article/us-usa-trade-china/trumps-trade-extortion-wont-work-china

Roku: Riding The Wave Of The OTT Revolution
https://seekingalpha.com/article/4195058-roku-riding-wave-ott-revolution

Amazon is hinting it has a new plan to make boatloads of money from Alexa
https://www.businessinsider.com/amazon-hints-about-alexa-growth-plans-2018-8

About the Author

Pete is a full-time trader and mentor since 2000. Author of Equity Trader 101 and the Order Flow Method. He is dedicated to help self-directed traders to bust through the six-figure level.

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