Wednesday Update 7/22
It's Amazing to WIN 🏆 in a choppy market 🪓
There will be times during the year that will test our patience. This is one of those times. We are chopping at the top and, if you’re like me, today was exhausting 😂.
It makes sense though. We are chopping at the top, with major earnings coming in while the market is trying to digest the oil trade due to the tensions in Iran.
Just breathe… have small positions and know this chop won’t last forever. This is very typical during Mega-Earnings season (especially at the top). All I know is TSLA and GOOGLE earnings were sold. OIL is up after hours. That does not bode well for futures.
When you’re in doubt, re-assess your chart on larger time frames. Is the thesis still valid? Are the candles healthy or full of wicks? Then, find the size you are comfortable with. No trade should ever affect your sleep. If you’re in doubt, reduce your size and breathe ….
Let’s get into the charts. As I’ve shared in here, and on X, I was short on IWM if it kept rejecting 296. Today, it rejected and is now at 293 as I write. It looks like it will test 291.5 support. I’m swinging 7/31 Puts.
There were other winners from Monday. GRML was the biggest with a 30%+ move
I hope it is clear how much time I put into this Newsletter. I’ve added some things to support you all this summer, but I’m wondering how much longer I can do it all. I appreciate any ❤️ and ♻️. I will continue to fight your you all and provide quality.
BULL was also shared on Monday. We’ve been talking about the 200 EMA 🧲 for weeks. It filled that gap and tapped it. We know WHEN we are selling (so did they).
I alerted KEEL in Discord on Monday. I was able to get in with a 4.22 average. It looks like a couple traders got in! It just hit 5.09 in after hours 🔥
A 17% move in two days is something I will take every week; compound!
I will share my thoughts on Bitcoin in the Paid Section and I will share the chart I’m in on from the Relative Volume Scan 👇 (link)
QQQ Weekly is still showing signs of caution ⚠️. When mega tech sells after earnings, we should be paying attention. This is playing out into a Rounding Top Pattern. Some call it the “Jellyfish.”
🗒️ None of my charts are a plan to jump in blindly. They are all binary conditionals; trigger + confirmation + 🎯= 🏆.
The Top 8 I’m Watching (some 🐻, some 🐂)
Note: 🎬 = I have no position yet. 🔁 = Newsletter is currently swinging
If you’re looking for more charts, check out my X Feed (Link).
🎬🥫 CAG — Conagra Brands, Inc.
Thesis: Insider Buying Fuels Volume Breakout
Shares are reversing out of a multi-year descending channel on the heaviest weekly volume in years, a move that coincides with the new CEO’s high-conviction stock purchase, and the setup favors staying long while that breakout holds.
News/Fundamentals
Conagra Brands Stock Draws Cautious Targets As New Products Roll Out: ConAgra is rolling out a wide new lineup of frozen and shelf-stable products across its major brands for summer 2026, giving the turnaround story a fresh sales catalyst.
Conagra Brands (NYSE:CAG) Given New $15.00 Price Target at JPMorgan Chase & Co.: JPMorgan raised its price target to $15 from $14 this week, another Wall Street sign that downside looks limited from here.
Conagra Brands CEO John P. Brase buys $510k in company stock: New CEO John Brase bought 35,000 shares for roughly $510,600 on 7/17, the high-conviction buy sitting directly behind the volume spike on the chart.
🚨 Trigger: Enter/add as long as $14.64 support holds
🛑 Stop: Soft stop, daily close < $14.60
🎯 Targets: $19.66 → $22.00 → $24.75 → $28.00
🎬 My personal plan: 8/21 Calls; 16 Strike
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