A Trader's Education Podcast

The financial sector has been unimpressive to say the least.

XLF, the SPDR Financials Sector Fund is already selling off and looking similar to the breakdown we saw in March.

The potential for a banking crisis being wider spread was real back then but I don’t think we are facing the same concerns currently.

That said, the chart looks awful and many names are at key levels.

BRK.B had been in cruise control all year, largely staying above the 50-day SMA and continuing higher.

That all changed in September and now it is headed towards it’s 150-day SMA at 335. I think it gets there and possibly lower. AAPL will play a big role as will BAC.

JPM needs to get back above 143.50 after a nice bounce Wednesday off of the 150-day simple moving average SMA. Support below comes in at 138.18 and 133.19 while the upside target is a clean $150.

JPM continues to be the name I like the most in the sector I might like the least.

BAC bumped up against it’s 20-day SMA last week and has sold off hard since. It hasn’t reached this low of a level since November 2020 as it closed below $26.

BAC is a falling knife at the moment.

WFC is also in a severe downtrend but it did find the volume shelf at 38.50 and could find footing at this level. This level is worth watching, targeting a move up to 43 even with support below at 37.50.

Blackstone, BX, is on a nice uptrend and worth considering at these levels.

BX bounced nicely Wednesday and closed above $104. It touched this trendline in August and followed up with a run to a recent high of 116.78.

If it gets the bounce, I like the odds for a move higher but $114 to $115 will be tough resistance. Take profits accordingly.

Staying away from the popular retail trader names like UPST, SQ, and PYPL as each respective chart looks terrible in their own ways.

AXP is a much different looking chart than V and MA. AXP is much worse.

Both V and MA are flirting with their 150-day SMAs but each have been trending higher and for the most part remaining above this moving average.

AXP has sold off over the past two months and is sitting at a key support level of 146. I am not optimistic for this one.

I need to mention SOFI, which held it’s 150-day SMA and closed at 7.47. If this level doesn’t hold, I do think 6.90 is in play quickly.

Bulls are targeting a move back to 8.00 but even if it gets there I don’t think it holds up so I would be taking profits.

Thanks for tuning in! I appreciate your support of A Trader’s Education and hope you have a great day!

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

Terrible start to the week for equities as the 10-year keeps pushing higher.

Stocks across the board are dropping, volatility is spiking, and the Fear & Greed index is at Extreme Fear.

Long term investors know this is a time to buy and that is exactly what I’m doing in my long-term portfolio.

For those of us that also trade the near term it is important to look across sectors to see what is working, what isn’t, and what sense we might be able to make of the moves.

Most importantly, we are looking for strength.

Weakness is easy to spot. Trendlines have been broken for XLV (healthcare), IWM (small caps), DIA (Dow Jones), XLY (discretionary), and XTN (transports) as shares drop lower.

All of the above are below their respective 150-day simple moving averages as well.

Meanwhile XLU (utilities), XLRE (real estate), and XLP (staples) look even worse. All have sold off steeply.

It is interesting to note that the defensive area of markets are all trading lower.

Taking a look at XLK (technology), SMH (semiconductors), and QQQ there is no doubt sellers have come in but the action is more orderly and flatter.

Effectively, these ETFs are trading sideways.

Growth is trading sideways while defensive sectors are selling off and dropping.

Maybe this is the set up for a Q4 rally. I sure hope so!

Last but not least, XLE (energy) touched it’s 50-day moving average today for the first time since the start of the recent rally in June.

I like the strength this sector is showing and am looking for a bounce back.

Checking in on our shorts. PLUG dropped another 30 cents from 6.83 to 6.53 on Tuesday, aiming for $6.

SOFI dropped 7% already and is below the 150-day simple moving average. Targeting 6.90 next after closing Tuesday at 7.28.

Thanks for tuning in! I appreciate your support of A Trader’s Education and hope you have a great day!

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

XLE sold off hard Friday and again Monday to drop below it’s 50-day SMA. Not a great sign but if it can hold above $88.50 this could be a nice buying opportunity.

A break below and energy might continue to sell off. XLE could quickly drop to find support at 86.58 with 84.44 being the next level of support below.

Watch RIG. If it can get back above $8.00 there is a chance it makes a move towards 8.80 again. If it fails, the trade for upside is off.

Looking at a few other names outside of energy, first up is VMW.

This is a cloud systems software company and its shares have been consolidating just below $170 for a couple of months.

VMW is holding the uptrend and is above its 20-day moving average. I am watching for a break out above $170 with a potential run at $180.

MRVL is a semiconductor name I like and it is breaking out of a wedge and recent downtrend. Closing at 54.59 Monday, I like a run at 57.26 in the next week or two which would be close to a 5% move.

Options are not cheap which means I like considering a spread. Typically buying the at the money calls and selling calls at a strike price near or above resistance.

For MRVL, I like considering the October 13th call options, buying the $55 strike and selling the $58 strike which will cost about $100 per spread contract with a chance to 3x if shares move up towards resistance over the next 10 days.

On the short side, PLUG had a terrible Monday and broke below recent lows. I think it continues lower and could end up below $6.00.

Another short I am considering is SOFI. It rejected at the 20-day SMA and again near the $8.00 level which was prior support. Now I think $8 will be strong resistance and am looking for a drop to 7.50 as we head into earnings season.

I appreciate you listening in and reading A Trader’s Education. Have a great day!

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

Last week marked the end of the month of September, the end of the quarter, and hopefully the end of the seasonal selling that we saw over the past two months.

The Trading Triangle dives head first into your favorite stocks including where we think TSLA might be headed, a look at a potentially great set up for DKNG, and opportunities with AMD.

Join us for a full review of this week’s charts as we dissect the market and a few of our favorite tickers.

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

Follow Shaun on Twitter @ShaunClarke_ and watch his videos on YouTube @ShaunTrades_ for more on NIO, TSLA, and others.

Follow Kaye on Twitter @InvestKaye and view his videos on YouTube under the same handle @InvestKaye for more on SOFI, GOOGL, AAPL, and more.

Have a great week of trading!

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

XLE continued to move higher yesterday after oil touched $95 per barrel but then pulled back.

SLB had a modestly green day but LNG was the big winner, up 2.1% and closing at $168.94 and back at the top of the recent range.

LNG is targeting the recent high of $170.57 and if it gets there with good volume I like the chances for a push to $176.

RIG paused and pulled back a bit but I like it to continue on towards $8.80.

Shifting to the semiconductors, SMH is the ETF I like to track, and it has bounced firmly off of $140.

Targeting $150 next, it will be tough for shares to get above this level and I think will prove to be a real test.

AMD made a massive move after bouncing off of the bottom of the wedge it has been trading in since June.

Now nearing the top of the wedge, if it breaks out to the upside, which would be above $105, we could see the entire sector make a move higher.

NVDA is also looking interesting. Currently forming an expanding triangle after bouncing near $410. We could see another attempt at $500 if markets turn around in October. Something to watch.

I hope you’re enjoying these morning updates as much as I enjoy making them.

Let me know in the comments below and have a great day trading!

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

Follow Shaun on Twitter @ShaunClarke_ and watch his videos on YouTube @ShaunTrades_ for more on NIO, TSLA, and others.

Follow Kaye on Twitter @InvestKaye and view his videos on YouTube under the same handle @InvestKaye for more on SOFI, GOOGL, AAPL, and more.

Have a great week of trading!

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

Getting right into it, XLE has been making higher highs and higher lows. It is now looking to get back above the January 2023 high of $93.15.

Oil is pushing $95 per barrel, on its way to $100 and business in the energy sector is booming. I like more upside in the near term.

I think we see both make their moves higher in October.

Names I like in the space include SLB which is bouncing nicely off of $59 and headed back towards recent highs above $62.

I also like RIG which has been trading between $8 and $8.80, accumulating shares at the bottom of the range and selling covered calls at the top of the range.

And don’t sleep on LNG which got to $167.49 before cooling off Wednesday. Looking for a break above that price to confirm a breakout and push to new highs above $170.

Have a great day trading!

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

Follow Shaun on Twitter @ShaunClarke_ and watch his videos on YouTube @ShaunTrades_ for more on NIO, TSLA, and others.

Follow Kaye on Twitter @InvestKaye and view his videos on YouTube under the same handle @InvestKaye for more on SOFI, GOOGL, AAPL, and more.

Have a great week of trading!

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

The markets did not like the “higher for longer” rates talk and sold off by a couple of percentage points last week.

We were ready for it and now we are revving up for what will undoubtedly be another important week for investors and traders alike.

Join The Trading Triangle for a full review of this week’s charts as we dissect the market and a few of our favorite tickers.

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

Follow Shaun on Twitter @ShaunClarke_ and watch his videos on YouTube @ShaunTrades_ for more on NIO, TSLA, and others.

Follow Kaye on Twitter @InvestKaye and view his videos on YouTube under the same handle @InvestKaye for more on SOFI, GOOGL, AAPL, and more.

Have a great week of trading!

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

We’ve got the FOMC rate decision this week but before that, we have charts!

Is AAPL at a good buy spot? Does TSLA power higher?

Join The Trading Triangle for a full review of this week’s charts, getting ready for another exciting week of trading!

Tune in and hear what we have to say about the charts and our trading plans this week.

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

Follow Shaun on Twitter @ShaunClarke_ and watch his videos on YouTube @ShaunTrades_ for more on NIO, TSLA, and others.

Follow Kaye on Twitter @InvestKaye and view his videos on YouTube under the same handle @InvestKaye for more on SOFI, GOOGL, AAPL, and more.

Have a great week of trading!

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

The tech sector was hot last week and energy is shaping up to be even hotter!

It might be a short trading week but we had plenty of charts to review and trade ideas to discuss.

Join The Trading Triangle for a full review of this week’s charts, getting ready for another exciting week of trading!

Tune in and hear what we have to say about the charts and our trading plans this week.

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

Follow Shaun on Twitter @ShaunClarke_ and watch his videos on YouTube @ShaunTrades_ for more on NIO, TSLA, and others.

Follow Kaye on Twitter @InvestKaye and view his videos on YouTube under the same handle @InvestKaye for more on SOFI, GOOGL, AAPL, and more.

Have a great week of trading!

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.

Revisiting the land of semiconductors post NVDA earnings, looking ahead to NIO earnings, and liking the set up in energy names like XOM.

Join The Trading Triangle for a full review of this week’s charts, getting ready for another exciting week of trading!

Markets are still at precarious spots and we are looking for opportunities where others may be selling.

Tune in and hear what we have to say about the charts and our trading plans this week.

If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.

Also check out the A Trader’s Education Newsletter for weekly breakdowns of trading strategies and trade ideas.

Follow Shaun on Twitter @ShaunClarke_ and watch his videos on YouTube @ShaunTrades_ for more on NIO, TSLA, and others.

Follow Kaye on Twitter @InvestKaye and view his videos on YouTube under the same handle @InvestKaye for more on SOFI, GOOGL, AAPL, and more.

Have a great week of trading!

This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.