Friday Outlook

This is the S&P 500 Chart with the Daily Candles. The Trend Line I drew (green) and have been using for the past few days. I also put in the Support (red) and Resistance (yellow) lines to help follow what was really happening. Each time in the past few days it continued to bounce of the trend line and attempt to break past the resistance. Today the market has acted differently then the past two days. Today the market started out Red but Went Green and (although it had a decent pull back) it has risen well above 1%. Compared to the last couple days that were basicly flat (excluding Pre Market) just Up down Up Down (with Down Winning over each day)

There is more to what moves the market then just technical analysis accounts for. Last week Kicked off Quater 3 Earnings Season. A lot of the results coming out are better then expected and Some companies are even raising thier forward Guidences.
Air Lines like $United Airlines (UAL.US)$ $American Airlines (AAL.US)$ have done very well
Banks $JPMorgan (JPM.US)$ $Citigroup (C.US)$ $Morgan Stanley (MS.US)$ All reported Well or better then expected
$IBM Corp (IBM.US)$ $Tesla (TSLA.US)$ $AT&T (T.US)$ $Philip Morris International (PM.US)$ $Freeport-McMoRan (FCX.US)$ Have all done well Even if some of them have had some pull backs in certain areas.
I believe this is part of what is trying to drive up the market.

In the U.K. the Prime Minister Liz Truss is resigning after only a month and a half due to the failed policy she attempted to implement. Or so thats what she said.
MarketWatch Lizz Truss U.K. Prime Minister Resigns
That also seemed to fair well on our own stock market.

There is also the Idea that the Mid terms are less then THREE WEEKS away already and there is a lot of hope that the republicans can take the majority in boh the house and the senate.
This is also going to be good (In my opinion) on the Stock market because people believe that Republicans will start boosting the economy by increasing the production of energy here in the US and because they will reduce regulation and taxes that are suffocating new growth. Also the crime problem is effecting businesses and Republicans claim they will help stop crime as well (although every politcian says that)

Because of these "catalysts" I think we will get a few days of green into the next week. and a bigger bear market rally coming in the next few weeks or month.

OF COURSE I ACTUALLY HAVE NO IDEA WHAT WILL ACTUALLY HAPPEN! and I am by no means an expert on this stuff. Although I do study it daily.
I personally used the dip in the red this morning to sell out of all my PUT Options and (waited for good entries) and Bought into my call options (after i made sure it was going green of course)

Economic Calendar For the Coming Week:

Looking at the Calendar I would Assume that the Green may stop on Wednesday with the Report on New Home Sales Because from what I uderstand that has dropped drastically. Thursday has the first look at GDP (Gross Domestic Product) That will have a big effect on the market depending on its results.



Sold out of:
$NIO Inc (NIO.US)$ Put
$Snap Inc (SNAP.US)$ PUT (did really well on this)
$Ford Motor (F.US)$ Put
$SoFi Technologies (SOFI.US)$ PUT
$Rocket (RKT.US)$ PUT
Positive On all of them thankfully

Longer term Calls Opened today:
$Petroleo Brasileiro SA Petrobras (PBR.US)$ Call $16 Nov.18th 2022
$Imperial Petroleum (IMPP.US)$ Call $0.5 Dec. 16th 2022 (small Position)
$FREYR Battery (FREY.US)$ Call $12 Nov. 18th 2022
$Mullen Automotive (MULN.US)$ Call $0.5 Jan.20 2022 (this was after it had pulled back and figured that it has some catalysts coming up, and it has been a bigg runner in the past I figured what the hell. Its only 2 contracts and is very little)

Short Term Calls:
$Freeport-McMoRan (FCX.US)$ Call $30.5 Oct.28th 2022
$Intel (INTC.US)$ Call $26 Oct. 28 2022
$MARA Holdings (MARA.US)$ Call $10.5 Oct. 28th 2022
$Vale SA (VALE.US)$ Call $13.5 Oct.28th 2022


I did not do great with My other account this week with my Day/Swing Trades Although I did have green days. I was Negative yesterday and today and erased most of what i made in the beginning of the week.
Stocks I like today and are on my Watch List are
$Pineapple Energy (PEGY.US)$
$Energy Focus (EFOI.US)$
$Intelligent Living Application (ILAG.US)$
$Meiwu Technology (WNW.US)$
$Imperial Petroleum (IMPP.US)$
$Amprius Technologies (AMPX.US)$
$Starbox Group (STBX.US)$
$Legend Biotech (LEGN.US)$


All this is my Opinion and what i am doing to try and be sucessful at trading. I am still learning and can be wrong a lot. I would enjoy any constructive critisim (other then I suck at spelling Lol) because I always want to learn to be better at what I do.

Thank you and I wish you all the BEST!!!

BIZ


@Dons hobby @Alvinnnnnnn89 @AmyNic @bambinoPR @Biff @easygoing Lyon @Jesus is lord @Qui Vivra Verra @Rivera @SpyderCall @70517269@