The Week Ahead (10/26)
Happy new ATHs!
Happy Monday and hope you all had a great weekend! Last week was another fun one and this week is shaping up to be as well, let’s dive in.
First, a few quick chart updates from last week’s trade ideas:
SNOW:
I’m going to be trimming 75% of the Nov $260c today into this gap up and leave runners on. Noted as long as we remained above the 21ema this setup looked explosive and we got a great move higher and will be a solid win
META:
Although was a weekly call play, it played out extremely well on Monday with the large move higher off the buy setup, given earnings this week and another gap up today, wouldn’t chase at this point
TSLA:
TSLA was a whirlwind with the gap down from ER, but strong buyers showed up to keep it above key 423 level which remains my pivot, as long as we’re above I like staying long the Dec call spreads.
Our plan on ES worked quite well, 6705 key pivot held and we ended up banking a nice win on longs from there - I’ll be selling the runner SPY 10/31 $669 calls today at open for a really nice win there as well.
Looking ahead to this week’s levels and setups:
I tweeted out to swing longs when we got the buy signal and can see how it played out. Also last night I tweeted to fade this move up, I still think we will fade and I wouldn’t chase this long:
Key pivot this week for me is 6806 which if you remember was an upside target from last week’s plan, and 6840 was final target which capped the upside on Friday. I think we see this fade to 6840 and ultimately breaks lower to test out that 6806 pivot. I will be wrong on a sustained move above 6900. Pretty solid risk reward with a defined stop out on this.
If it plays out and buyers fail to hold 6806, we open up a revisit of 6760-6750 area - i’ll be sure to update on twitter throughout the week.
NQ:
NQ printed a risk off signal completing the auction from the swing long buy signals that marked the lows last week, can take stabs short on this as well as long as no sustained moves above 25900.
GC:
I am still wildly bullish gold and am going to keep buying dips for a swing into Q1. I currently have a position in the March $400 calls on GLD, fully open to the possibility that this still goes lower to test 3970-3930 zone. As long as no daily closes below this zone, I view dips as gifts to buy, and I still think gold will trade $5000 in Q1 2026.
I do not have any trade setups at this moment for the week. I am using this strength to exit swing longs and given I mainly like to play the long-side on single names, I will be patient and see if we get the move lower I am expecting and then assess from there.
It’s also a massive week of earnings and FOMC, so I am happy to be sidelined on swings and just use this week to trade intraday volatility:
I’ll be active on twitter and if any good setups/signals appear, will be sure to call them out in real time there.
Cheers!
-gtd