YESTERDAYS TRADER OF THE DAY
The 2023 Small Account Challenge start date has been determined.
That’s right, we are hosting another small account challenge for the 2023 trading year. We will be growing a small $1,000 account into over $30,000 by the end of the year. Members have decided that we will be growing our $1,000 account through options trading! We will officially begin the small account challenge Monday June 5th and run it into the end of the year. All trades will be streamed live and all trades will be logged and tracked. You will see exactly what I trade and how trades are reviewed to make adjustment along the way as needed. This will also give us insight on when to start sizing up to lock in bigger profits as the account grows.
🌟 Good morning team! 🌟 Happy Hump Day!
I hope you all had a wonderful evening and are ready for a successful trading session today. Yesterday was an AMAZING day in the market. We absolutely crushed it and saw some amazing profits inside of profits chat. Keep up the amazing work team and keep this momentum going.
As always, remember that quality trades are the key 🔑 to success in the market. It is important to stay focused and disciplined 🧠 and let the best of the best trades come to us! So let’s all approach today’s trading session with a positive attitude and a commitment to taking only quality trades 💪
Live Stream is now up and The Pre-market Rundown will begin at 8:45AM. The morning Game Plan Session will start at 9AM followed by Live Market Training/Trading from 9:30AM – 11AM and Private Market Mastery Training from 11AM – 11:30AM 👏 👏 👏
Let’s have an amazing day team.
STOCKS WITH NEWS
Dow finishes Tuesday lower as Wall Street weighs odds of debt ceiling deal clearing Congress https://www.cnbc.com/2023/05/29/stock-market-today-live-updates.html
Yesterdays top penny stocks:
$ATTO $CXAI $VGAS $ETRN $AI $FANH $TARO $TOP
The Dow Jones Industrial Average fell on Tuesday as Wall Street considered the likelihood of Congress passing a tentative deal on raising the U.S. debt ceiling. The 30-stock index lost 50.56 points, or 0.15%, to end at 33,042.78. The S&P 500 eked out a 0.002% gain to close at 4,205.52, after trading both above and below the flatline during the session. The Nasdaq Composite added 0.32% to finish at 13,017.43, paring gains after trading up as much as 1.4% earlier in the day. President Joe Biden and House Majority Leader Kevin McCarthy reached an agreement to raise the debt ceiling and avoid a default over the weekend, with Congress set to vote on the legislation as early as Wednesday. Both Republican and Democratic support is needed for the proposed bill to pass. The agreement comes just days before the so-called X date on Monday, which is the earliest date the Treasury Department has signaled the U.S. could default on debt obligations. The long negotiations between the White House and congressional leaders raised concern among investors that a default could take place. Despite the tentative agreement, obstacles remain on the path to passage for the compromise bill in the House amid growing opposition within the GOP. “Markets climb walls of worry at the end of the day, and the debt ceiling is obviously some type of worry,” said Chris Barto, investment analyst at Fort Pitt Capital. “But I think the market is kind of pricing in some sort of deal does get done.”
Concern over the potential for another interest rate hike also weighed on investor sentiment. Traders are pricing in a 68.8% chance of a Federal Reserve rate increase next month, according to the CME Group’s FedWatch tool.
Richmond Fed President Tom Barkin also said at a National Association of Business Economics event Tuesday that he hasn’t “backed off” from his rate forecast, which he said is among the higher ones within the central bank.
“The Fed is still a major focus for all investors,” said Brian Price, head of investment management at Commonwealth Financial Network. “It’s really a tug of war between what the Fed is likely to do: whether or not they are going to hike one or two more times, or just sit tight and wait and see how incoming inflationary data is over the next couple of months.”
The Nasdaq was helped by a nearly 3% rally in Nvidia. The artificial intelligence-related stock reached a $1 trillion market cap — an elite marker surpassed by just a handful of stocks — at one point in Tuesday’s session, as shares continued to rally following its strong earnings report last week.
Things to know before the stock market opens Wednesday:
- The House intends to vote on the debt ceiling deal Wednesday.
- JPMorgan CEO Jamie Dimon called on China and the U.S. to iron out their differences.
- A.I. could pose a threat as serious as nuclear war, top scientists and executives warn.
$VQS – 5/23/2023 news – Zacks Small-Cap Research Sets $3 Price Valuation
$MRKR – Marker Therapeutics Reports Pre-Clinical Data of its MT-601 MultiTAA-Specific T Cell Product Candidate in Lymphoma Cells
$TRVN – Trevena Announces Receipt of Milestone Payment From Partner in China Jiangsu Nhwa Pharmaceutical. $3 million milestone payment for Chinese approval of OLINVYK® (oliceridine) injection.
$LL – LL Flooring Holdings Receives Acquisition Proposal From F9 Brands Unit Cabinets To Go
$OXY – Berkshire Hathaway acquires 4.66M Occidental shares for $273M
Personal Game Plans
$QQQ could be setting up for a downtrend break today. We just came down and bounced off yesterdays LOD prior to hitting point 4 of the downtrend. If we now hold a double bottom or slightly higher low and start to curl back into the downtrend, I believe we break and start to see out next leg up to $350 and $352. However, if we fail to break the downtrend on point 4, we could see $QQQ crack support and drop on down to $345.63
$SPY is currently sitting right at KEY support at this time. We are sitting right at $418.31 support as well as our uptrend from last Wednesdays LOD. If we hold a slightly higher low here off this trendline, we could see a nice push on up today to $422. However, if we fail to hold the trendline and start to crack below $418.31, we could see a nice drop on down to $416.73 today
$GOOG is looking good today for a possible short. If we start to crack this up-trend after putting in a possible daily double top yesterday, I would take this short for the drop on down to $121.13
$MU will be on watch today for the possible daily gap fill bounce at $66.72