🚗 A Parachute Opportunity for Profit in XHB Despite a Hard Landing

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Griff here with the Chart of the Day. This was a big week for a shift in the narrative of no recession to … We may see a hard landing. You can see that in the poor performance of home builders, which have been resilient as supply of homes has been limited... That may start to change next week when we get existing home sales and new home sales … The HomeBuilders ETF (Ticker: XHB) is a stock to watch because after a furious correction higher it rolled over this week and may hit an air pocket on its way back down … [ Plus, we have the BRICS summit and Powell’s speech at Jackson Hole on the agenda … Let’s Go!! Have a great weekend everyone! [ [ - OPTION SHOPPER: SQQQ Aug18 20.50 calls up 219% Want to find YOUR winning fit? Give our Customer Care Team a call at 1-888-8772-3301 Monday-Friday from 9 a.m.-5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:support@optionpit.com?subject=) Trader's Edge: Prepare Yourself for Big News Next Week - Weekly Wrap This week was wild for trades - and I’ve got my eyes set on some more next week… Check out my Weekly Wrap clip to see: - A successful trade this week in QQQ - The locomotive driving the market: BONDS - What’s on my radar next week: - NVDA earnings - Aug 23 - BRICS meeting - Aug 22 and 23 - Jackson Hole - Aug 24 - 26 - What I am holding in the Russell 2000… and - When to sell your shorts… [Check out my watchlist plus the full Weekly Wrap clip…]( - Mark [22).gif]( Pit Report: NVDA Chart Analysis - Revisited I last wrote about Nvidia Corp (Ticker: NVDA) on [March 20, 2023]( and said it could trade $290. Well, it traded $290 and then some. Before its last earnings report on May 24th, NVDA closed at $305. After the report, it gapped open up $80, trading a high that day of $394.80. NVDA not only held that breakaway gap area, but managed to trade much higher reaching an all time high of $480.88 on July 14th. It has since pulled back and its most recent low is $403.11. Yesterday, it closed at $433.44. Here is the chart: [ [Click here and I’ll show you the close up and where the support and resistance levels come in.]( - Licia Profits In Pumps: 70% Win Rate! [I sure hope you attended Bill Griffo’s live event last night.]( It was awesome! And Griff is a fantastic trader. For the year 2023, his Power Income Trader strategy has earned $4249 on an average trade outlay of $160.41. The average performance of his trades, including the losers, is 30%. That brings his win rate to 70% and his average hold time is eleven days. [ Yes, 70%! That’s huge! If you had a good reason to miss last night, and I bet it was unavoidable, [here’s the replay](. [Click here and I’ll show you a new look at Apple (Ticker: AAPL).]( - Licia OPTION PIT GLOSSARY [( There are plenty of terms in the trading world that need defining. The [Option Pit Glossary]( is here to help. Today's phrase is: Order flow: The actual option contracts bought or sold by the investing public in a particular class of securities. [( DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk. DISCLAIMER: OPTION PIT LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. 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