Weekend Wrap Up for 10/29/2023

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[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 10/29/2023 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [Revealed: The shocking secret behind this reclusive trader's 97% win rate]( The man behind THIS plan has used an odd twist on trading options for the past 20 years to rack up incredible profits... even using it personally to retire in just 10 years...with a 5.3 million "nest egg" that helped him sail worry-free through every Financial Crisis and market crash since... he hasn't closed out a losing trade with this strategy in more than 6 years. But don't just take my word for it... [You can see the urgent details for yourself right here.]( 1. Market Summary [Jon Johnson] - Big tech plays catch down to the rest of the market as the Nasdaq breaks the 200-day simple moving average (SMA). - Small-caps, mid-caps bounce after their thrashing. - Q3 gross domestic product (GDP) at 4.9% with boosts yields, but a strong seven-year auction brings them back down -- someone was sent in to buy. - The number of leadership caliber patterns declines instead of improving - Cathartic bottom versus Soviet collapse bottom: neither showing up thus far. NOTE: The figures and information above are from the 10/25 report. MARKET VIDEO [Click here to watch!]( NOTE: The videos are from the 10/24 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 Technical Trader: Microsoft Corp. (NASDAQ: MSFT): MSFT, of course, is one of the mega-cap techs we keep on one of our watchlists, and thus we saw the double-bottom pattern building from the beak in July into October. Classic action in the pattern with a lower low at the 180-day moving average (MA) in late September as moving average convergence divergence (MACD) put in a higher low -- the pattern forming up and MACD showing upside momentum building. Early October, MSFT was approaching the 50-day MAs, and it was also approaching earnings on Oct. 24. On Oct. 6 MSFT just cracked though the 50-day MAs. A good move higher, a good pattern, breaking resistance. It looked as if MSFT was setting itself for a nice run towards earnings. As it was Friday, and MSFT was just slightly breaking the resistance, we decided to wait until Monday to see if it could sustain that break. Monday came and MSFT continued upside. We issued the text and email alert to enter December $330 call options trading on the ask at $15.58. MSFT continued higher that session and added even more upside the next several sessions. Not blowing it out, however, just steady. Then, MSFT stalled. It did not sell, just did not advance, working laterally over the 50-day MAs. We recognized this action as a forming a handle to the double-bottom pattern. A nice pattern to buy, but it might not give us a breakout before earnings. That left us with the decision to exit pre-earnings or hold through the results. MSFT is one if the first big "names" to announce, and often the first announcers enjoy some leeway. Thus we decided to hold into the results. Well, you know what happened. MSFT beat expectations handily and gapped upside on Oct. 25. It came close to our initial target then started to stall so we issued the alert to sell options that were trading at $22.50 on the bid, a solid 44% gain on the move. [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( [A.I. Is Reshaping Investing: Are You Prepared?]( Traditional investing is out the window – A.I. investing has arrived. This dual-patented generative A.I. can predict market trends 1–3 days in advance. [Join this FREE online A.I. training class to learn more>>Â]( 3. Covered Call Options Play Rcm Technologies Inc. (NASDAQ: RCMT) -- Rcm Technologies Inc. is currently trading at $19.50. The Nov. 17 $20 calls (RCMT20231117C00020000) are currently trading at $0.80. That provides a return of about 9% if RCMT is above $20 by the expiration. [Learn more about our Covered Call Tables here!]( About Investment House: [Investment House]( Since 1999! 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