It's here! Enjoy this week's FogCutter...

July 8, 2024 Dear , Welcome to the FogCutter, a weekly treasure wire from Traders Edge Network. Each Monday we come into port, drop anchor and ready the sails! The FogCutter aims to guide you through today's perplexing market action and noise. Check out our view from the Crow's Nest, the quick-glance "Treasure Hunting Climate" and other direct and relevant bulletins for this week.. Chart your course for the coming week with this edition of the FogCutter! Here’s what we got on deck for you today: 💣 Nvidia Rare Downgrade Over Future Upside Concerns 😬 💣 Tesla Bulls Are Back 📈 💣 Video: Why I Sell Weekly Calls 💵 Markets At A Glance🔎 As of July 8, 2024, 9:50 AM MST Treasure Hunting Climate 📈 After a couple weeks where the markets seemed to be taking a bit of a breather, the holiday shortened week injected new life into the market! Tuesday, Wednesday (shortened session) and Friday all saw the bulls in control, leading to another positive week for the S&P 500 and the Nasdaq. We also saw new all-time highs for both indices. The S&P 500 has rallied an impressive 16.7% for 2024 and we just notched our fourth positive week out of the last five. With more inflation data coming this week (CPI report will be released Thursday, PPI on Friday) it will keep the focus on the Fed and potential rate cuts. At the risk of sounding a bit like a broken record, the bullish trend and momentum is still intact and we want to keep riding this wave! See you all next week! View From The Crow's Nest 👀 Nvidia Receives Rare Downgrade Over Future Upside Concerns 😬 New Street's Research Analyst Pierre Ferragu downgraded Nvidia to neutral from buy, citing the stock's full valuation after a 156% rise this year, following a 240% jump in 2023. Ferragu noted that further gains depend on a bullish outlook beyond 2025, which remains uncertain. He warned of a possible derating if the current outlook doesn't improve. [See Full Article]( Tesla Bulls Are Back 📈 In the past week, Tesla shares soared over 25%, driven by vehicle deliveries that surpassed expectations, outpacing the modest gains of the rest of the "Magnificent Seven." Earlier this year, CEO Elon Musk's claim that Tesla isn’t just a car company shook up the stock, despite lagging sales. Convenient, but true enough—and it seems to work both ways. [See Full Article]() Mumsy's Meme Of The Week 😂 WOW Insider Receive Preston's Live Trades and More! Gain exclusive benefits as a WOW Insider, including access to LIVE Friday morning webinars, 31+ training videos on Preston's option strategies, a member forum for Q&A, and updated trade journals. [Find Out More]( Free Resource LEARN HOW TO DO IT YOURSELF Head to the TEAM HUB for more options training. Learn the basics of options, how to setup an account, and place your first Money Press trade through the Onramp. [Go to T.E.A.M. Hub](=) Economic Calendar 🌎 Earnings Calendar 💰 Video of the Week 📹 Discover how Preston sells weekly calls when the stock market goes through patches of volatility. Learn more about the similarities between ETF's and stocks, and how you can take advantage of the market cycle turning higher! [Watch Now]( I hope you enjoyed this edition of "The Fogcutter". You can expect this in your inbox every Monday moving forward. Have a great week! - Preston [Unsubscribe]( Traders Edge Network 8180 South 700 East Suite 210 Sandy, Utah 84070 United States (801) 733-4190