October 21, 2022

Good morning. Before we get to our market review, we do have one change for the open. Adjust the stop on SNAP to 7.02. The risk / reward was there yesterday, especially with the monster call buying we saw in snap and meta for the last week, but it didn't deliver. You have to think at this level – maybe someone looks to scoop them up. Still in shock how quickly snap has fallen and to the levels it's falling too. Really intrigued now of what's to come for META.

Our portfolio is well positioned for the downside move. We should have an early morning battle between bears / bulls. The S&P line is at its next crucial point. We pointed out 3720 yesterday and watch would occur if lost, well here we are. Next line is 3640 now. It breaks and hold, we see 3500 really fast next week we would think. Then we have a major battle. Last time the bulls defended 3500 and we soared close to 300 points on the s&P. If we were to lose 3500, 3200 – 3300 level is next up. Just some trend lines to review and look at for your trading plan.

Can you imagine the opportunity to the upside once we move away from inflation / recession fears? We patiently wait and the opportunities will be absolutely monsters! Right now, let's trade the trends and continue to pinpoint opportunity. Be ready today, although its Friday, we might add a new opportunity. For our newer members, Fridays are always tough days to add unless we see A+ set-ups. So many things in this environment could occur over a weekend. Again, be ready and let's have a great session ahead.