Well now that the Witch is gone ( Triple Witching that we had this past Friday ) tomorrow will offer a fresh look at how the markets will proceed from here. To reiterate Triple Witching is when the markets options contracts all expire simultaneously for stock options, index options and futures options all on the same day… It’s like paying all of your bills on one single day and all at once instead of spreading them out…. Takes a ding on the old bankbook but then it sets you clear from then on until next time. Good thing is it only happens once a quarter.

All eyes will be on NVDA this week… Was this past Thursday and Friday profit taking or a bigger selloff in the making? It’s cousin SMCI is holding up but took a pullback also… Tech wreck coming? Only time will tell.. Pullbacks are healthy, sector rotation can and does occur. But no ones a fan of crashes. Having just a few or worse yet only one stock holding everything else up is like trying to build a winning football team by acquiring a great quarterback only. He may get lucky and be able to score a few points but to win the game he needs help. He’s going to need some wide receivers, running backs, an offensive line to protect him for sure, and that isn’t counting the defensive line from stopping the other guys. For this market to stay strong it needs more than just NVDA.

This week a few household names are reporting. NKE and FDX are 2 that eyes will be upon. If I was playing it from an Options standpoint the money is in NKE. It’s ATM Strike is strong at 3,300 Call contracts for this week. ( That’s kind of a big thing ) Not to mention the 100 holds over 1,000 Call contracts which is a sharp increase of over 23% from Thursdays buying, then the 105’s hold over 1,600 Call contracts. Neither stock offers a “stellar looking chart” but NKE’s is the better of the 2. As for FDX it will be interesting to hear their forward guidance since they just announced that they are laying off 2,000 employees in Europe as part of their restructuring plan. Call me “Old Skool” but I believe that transportation stocks still matter.

As we do every Sunday night lets take a look with the Heat Maps at how the market did for the past week, the past 4 weeks, then the past 12 weeks in that order.

Invest wisely, live charitably and be well

Brother Bill

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