Weekend Wrap Up for 07/28/2024

You are receiving this email because you signed up to receive Investment House's free e-letter Investment House Wrap Up, or you purchased a product or service from its publisher, Eagle Financial Publications. [Investment House Wrap Up] [IH Daily]( [Technical Traders Alert]( [Rapid Profits Stock Trader]( [About Jon]( In This Issue: - Market Summary - Targets Hit - Covered Call Options Play Weekend Wrap Up for 07/28/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [Nvidia's Secret Partner... This Is The New AI Chip Powerhouse]( I bet you've never heard of it...but this newly public company is set to become key to Nvidia's seat on the AI throne. And for now...you can get in while it's still cheap. [Details Here!]( 1. Market Summary [Jon Johnson] - Soft start followed by a panic surge only to roll over, purging the gains - Rotation indices holding their consolidation patterns - Big Four indices trying to hold at some support, still weak as seller remain ready to sell - Q2 gross domestic product (GDP) tops estimates as consumption, inventories, government spending all rise. - Durables orders dive on transports, but defense spending jumps, non-defense spending 4x weaker. - Techs still weak, rotation stocks still decently set up, but techs have a tough road near term. - Personal consumption expenditures (PCE) is an important number to the market, but even so, will it help the techs? Volatile session as stocks tried to start higher, stumbled early, then surged higher into 1:00ET. Strong surge, but then a complete purge as the SPDR S&P 500 ETF Trust (SPY) rolled over, formed a right shoulder at 2:30 to 3:10ET, then tumbled back to close near the session low. Not exactly as I thought -- I anticipated a higher open to get sold -- it was. I did not anticipate a subsequent BIG surge to get gutted by sellers -- it did. A 100-point intraday swing on the S&P 500. Indeed, ALL the indices formed that intraday head and shoulders and tanked mid-afternoon, though the Big Four indices closed at the lows while the other indices held some gain. NOTE: The figures and facts above are from the 7/25 report. MARKET VIDEO [Click here to watch!]( NOTE: The video is from the 7/24 report. [If You Think the Stock Market is Unpredictable, Think Again]( Believe it or not, there’s a way to know what direction a stock is poised to go over a period of time… I’m talking about a technical trading technique that lets you know whether a stock is going up…or whether it’s going down – within a rough time frame. I personally use this technique to consistently make profitable trades… And I’ve put together a short presentation with details on how you can start taking advantage of this technique alongside me. [Click this link to view the presentation.]( 2. Targets Hit Investment House Daily: Core Laboratories Inc. (NYSE: CLB): The rotation stocks continue performing -- with some hiccups such as the precious metals -- as the market still factors in some sort of "Trump trade," even as the Democrats switched horses in hope of retaining power. Thus far, that rotation remains, albeit with a pullback after the initial surge. CLB is a case in point. A large, nine-month cup-with-handle base formed with the stock rallying off the lows of the base starting March, slowing working higher, forming the right side of the base. We saw it move up to the 200 day simple moving average (SMA) mid-Jan and then work laterally ... for over a month. That action, however, formed a nice handle to the cup, and with the 200-day SMA right overhead, the entry signal was crystal clear: a break over the 200-day SMA that held the move and showed good volume was the buy. That clear signal came on 6/24 with the breakout. We issued the alert to enter stock and options with the stock asking $24.48, and the Sept. 20 $20 strike calls trading 1.35 x 1.50. The calls were hit at $1.40. From there, CLB started a steady rise, up four sessions including the breakout, taking it into July. After a week of flat-line and slow gains, CLB ran higher into July 17, just missing our initial target. It then tested into this past week before surging Thursday to the target. Strong move off a nice test. We issued the alert to sell half the stock bidding $24.48 and a 26.3% gain. The options at 4.85 x 6.2, near 250% in gain. We suggested leaving half the position to work: nice test, strong new break higher, good sector with money moving its way -- plenty of room for more upside. [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Rapid Stock Trader: Fate Therapeutics Inc. (NASDAQ: FATE): As the rotation trade continues, biotechs are showing plenty of money moving their way and thus we are playing a few of them. As money hits, these stocks are posting some rapid gains, then slowing a bit and steadily moving up -- in come cases. They can be a cruel mistress as noted before, selling back rapidly. We saw FATE testing its break higher over the 200-day SMA to start the week. On Tuesday, FATE edged higher. If it continued the next session we would enter. It did, and we issued the alert to move in with the stock asking $4.70. FATE shot higher after and hit our initial target and more. We issued an alert to sell half with the stock bidding $5.29, a solid 18.9% gain. Thursday, FATE was higher early but started to falter. Anticipating the "cruel mistress" possibilities, we issued the alert to sell with the stock bidding $5.66 and a 20.43% gain. [Receive a risk-free trial to Rapid Profits Stock Trader and save 50% by clicking here now!]( [The stock poised to outperform]( Trader, it’s a huge week for Wall Street, but an even bigger week for your portfolio. If you know how, and where to look. Even greater than the recent 300% gains that Novavax saw, the artificial intelligence just found [1 stock poised to outperform everything.]( This hasn’t happened in over six months, so come see what the A.I. is showing us. 3. Covered Call Options Play Bluebird Corp. (BLBD) -- Bluebird Corp. is currently trading at $49.59. The August 2024 $50 calls (BLBD20240800C00050000) are currently trading at $3.50. [Learn more about our Covered Call Tables here!]( About Investment House: [Investment House]( Since 1999! Our investment newsletters are designed to reduce your research time and help you invest and trade profitably. Our strategies range in risk from rather conservative covered call writing, trading blue chip stocks, all the way to speculating with options to get quick triple-digit gains. Get to know Investment House with these premium investment services: [Investment House Daily]( [Technical Traders Alert]( [Rapid Profits Stock Trader]( [Stock of the Week]( About Us: Eagle Financial Publications is located in Washington, D.C. – only a few blocks from the Capitol. Our products have been helping investors build their wealth for several decades. Whether you’re a long-term investor or short-term trader, you’ll find the right strategy for you, including how to earn more steady income to spend now, preserve and grow your capital to enjoy later, and whatever other investment goals you have. 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