TMAD Weekly: Space Stocks on the Ripper.
$HWM $RDW $VOUG $SIDE $RKLB $IONQ $QBTS
Hi everyone,
The market continues to grind higher, and while we are currently overextended and due for a retest, we haven’t seen any definitive signals of a reversal yet. Even if a retest occurs, we expect the market to move toward the 10-day Moving Average (DMA) and continue its upward trajectory as long as we hold above it.
In today’s letter, we will review our open trades, discuss trailing stops to lock in gains, and highlight new opportunities for the week that are exhibiting incredible momentum. The market environment remains favorable, and now is the time to capitalize on these moves before the typically “choppy” summer season arrives.
See the chart, we’re crazy standard deviation far from 50DMA so I wouldn’t not freakout to see a retest. But let’s see and never underestimate the power of momentum.
Resistance: 7,410 / 7, 450
Support: 7,390 / 7,350
Managing the Roadmap: SPX Levels
Before diving into individual tickers, let’s look at the SPX levels for tomorrow. Understanding the daily “expected moves” allows you to identify approximately where the market might land, whether up or down.
Why does this matter?
Emotional Discipline: If you see the market retesting or selling off, knowing where the next support level lies keeps you calm.
Precision Entries: You can time your long entries around these key support zones. When the SPX bounces, high-quality individual names often follow suit.
A Roadmap for Fear: It is natural to feel uneasy when your positions turn red, but viewing the SPX chart can provide a roadmap. If the index is approaching a major bounce zone, it may prevent you from closing a position prematurely before your stop loss is actually hit.
Whether you use these levels to guide your swing trades or to trade SPX options directly, having this macro view is essential for navigating the volatility.
Portfolio Review & New Momentum Trades
We are currently monitoring our open swing trades. According to our scanner, many are seeing a significant Call Surgeand high Relative Volume (RVOL). Conversely, for the names showing negative momentum or entering downtrends, we will reevaluate our thesis below.
Let’s get into the data!
