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

July 22, 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: 💣 Biden’s Departure Casts Uncertainty on Trump Trade 🤔 💣 Global Stock Indexes Fell Friday Due To A Cyber Outage 💻 💣 Video: My Daily Routine As An Options Trader 📈 Markets At A Glance🔎 As of July 22, 2024, 11:15 AM MST Treasure Hunting Climate 📈 Hey everyone! We are coming off quite the week! Like we had talked about in the previous weeks, the market had been pretty stretched to the upside. We finally saw some profit taking/selling swerve in with some gusto last week. From the highs on Tuesday (the 16th), we saw the Nasdaq drop about 5% and the S&P 500 drop about 3% at the close on Friday. Profit taking and some selling is always necessary (and healthy) for the markets, although not always fun on our portfolios. The markets are seeing a nice bounce today, but our focus will be on the strength of any multi-day bounce. We want to see volume supporting the buying and to see if we can march up to take out the Tuesday highs. A chart pattern you CAN see in times like these is a little bounce, but with the markets setting a "lower high". This pattern usually proceeds either a sideways struggle for a bit or another push lower to new lows, which would push us into even more of a defensive mindset. Over the next two weeks about 50% of the S&P 500 companies report earnings. We will see how earnings might spark continued buying or selling as some of the big hitters start reporting. We will be back next week like usual. See you then! View From The Crow's Nest 👀 Biden’s Departure Casts Uncertainty on Trump Trade 🤔 Investors betting on Trump’s return to the White House have been shifting from long-term US bonds to Bitcoin. The Trump trade, favoring sectors benefiting from looser fiscal policy and weaker regulations, may face challenges. [See Full Article](=) Global Stock Indexes Fell Friday Due To A Cyber Outage 💻 Global stock indexes tumbled Friday as a cyber outage disrupted operations across industries, pushing the dollar and Treasury yields higher. The S&P 500 and Nasdaq saw their steepest weekly drops since April. The outage affected services from airlines to banks to healthcare. [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 📹 Preston shows you his daily routine for finding opportunities as an options trader. Check out the resources he uses to find trades for his unique weekly option strategies. [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