My highest conviction SPY trade idea for Wednesday

Author

Jeff Williams
June 26, 2024

Header

Tuesday was another great day for Market Navigator and the “Trade of the Day.” I closed my SPY calls on a nice run higher toward the second half of the day for another double digit winner. 

Did you grab your seat yet for just $79 bucks??? If not you better hurry and grab it here as this deal will not be posted much longer.

All cash into this morning. Here’s what’s on my radar…

U.S Pre-Markets Snapshot

European Markets Snapshot

Economic Calendar For This Week

Today’s Fundamental Highlights

Morning Update:  NVDA lead the way for SPY and Nasdaq yesterday and I am looking for a possible repeat of that today. We don’t have a lot of data for this morning other than home sales but we do have bigger data coming in Thursday and Friday so I will not look to swing any positions today. FedEx came out with strong earnings yesterday, so congrats to all of those who took calls in the Navigator 9am to 11am sessions. Same with RIVN yesterday which I discussed a possible call trade as RIVN was nearing high $11s. RIVN is now up into the $17 area with news. Currently pre-markets are flat to slightly red. European markets are also red this morning. I could see a flat day today but I am hoping for a bit of a rally early then maybe profit taking into the close with Jobless claims and GDP tomorrow. Should be a solid day for trading ideas. VIX is flat right now as is the 10 year yields. Be ready in the Market Masters room to break it all down at 9am. 

This Weeks Earnings Releases

Today’s Key Chart Technical Analysis

My Key SPY Chart Areas: Solid day yesterday for SPY chart. I am watching $546s possible today with $548 a hopeful target by Thursday mid-day. To the downside I want to continue to see the $542 area support hold, if now then $540 and then the 20 SMA around $536 range. 

Educational Resources

Have a friend that is interested in learning options? Share this link with them

Today’s Trade Of The Day Idea

SPY July 3 $542 Calls

Today’s Audible Trade Idea

SPY July 3 $547 Puts

Note: The Audible idea is just in case markets make a last minute change between 8:45am and 9:30am market open. Sometimes late news comes in or stocks start to sell off, therefore, this idea would be my “plan b” idea at which I would do my best to notify you via the RagingBull App or streaming Market Navigator room here.

signature

P.S. As always, for questions about any of our services, contact our amazing sales team at 1-800-585-4488 / [email protected]. They’d love to hear from you!

DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at https://ragingbull.com/disclaimer.

FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. AnyRagingBull Service offered is for educational and informational purposes only and should NOT beconstrued as a securities-related offer or solicitation, or be relied upon as personalizedinvestment advice. RagingBull strongly recommends you consult a licensed or registered professional before making any investment decision.

RESULTS PRESENTED NOT TYPICAL OR VERIFIED. RagingBull Services may contain information regarding the historical trading performance of RagingBull owners or employees, and/or testimonials of non-employees depicting profitability that are believed to be true based on the representations of the persons voluntarily providing the testimonial. However, subscribers' trading results have NOT been tracked or verified and past performance is not necessarily indicative of future results, and the results presented in this communication are NOT TYPICAL. Actual results will vary widely given a variety of factors such as experience, skill, risk mitigation practices, market dynamics and the amount of capital deployed. Investing in securities is speculative and carries a high degree of risk; you may lose some, all, or possibly more than your original investment.

RAGINGBULL IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Neither RagingBull nor any of its owners or employees is registered as a securities broker-dealer, broker, investment advisor(IA), or IA representative with the U.S. Securities and Exchange Commission, any state securitiesregulatory authority, or any self-regulatory organization.

WE MAY HOLD SECURITIES DISCUSSED. RagingBull has not been paid directly or indirectly by the issuer of any security mentioned in the Services. However, Ragingbull.com, LLC, its owners, and itsemployees may purchase, sell, or hold long or short positions in securities of the companies mentioned inthis communication.

In the event that any suit or action is instituted as a result of doing business with RagingBull.com, LLC and/or its affiliates or if any suit or action is necessary to enforce or interpret these Terms of Service, RagingBull.com, LLC shall be entitled to recover attorneys’ fees, costs and disbursements in addition to any other relief to which it may be entitled.