Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

DrosNotes - 06.24.2018 - Stock Market Outlook


Published on

In this edition of "DrosNotes", I highlight some of the most significant unusual options activity of the week, I take a look at major trends on the indices and commodities and add buy/sell recommendations.

Published in: Economy & Finance
  • Be the first to comment

  • Be the first to like this

DrosNotes - 06.24.2018 - Stock Market Outlook

  1. 1. DrosNotes June 24, 2018 DROSNOTES 06.24.2018 - Last Week and What To Look For This Week 1 “I just want a Picasso in my casa, no my castle” - Jay-Z Today in History: June 24th, 1901 - A 19- year-old Pablo Picasso gets his first big exhibit in Paris. Long live art.
  2. 2. DrosNotes June 24, 2018 Last week was a bit of a shit-show. The Fed announced the ‘potential’ for an extra rate hike than had been expected; yet most of the data that came out seemed decent with some even looking good. I think the market was letting retail freak out a bit as the big boys did some rebalancing. Some of the larger options trades were Deep ITM Calls on stocks that were most likely stock replacements. It’s hard to predict precise market moves with the back and forth we’re seeing in the tariff tensions. I do want to say this though…we ARE NOT in a trade war with China presently. Call it the “Art of The Deal” or call it market manipulation. Call it whatever really, but again, I’d recommend options stay mostly in cash this week unless you’re swing/day-trading or taking on options with expirations out to at least the July. Monthlies but the AUG to be safer. Here’s the top flow of last week… 2
  3. 3. DrosNotes June 24, 2018 As a comparison, here’s the top flow on Friday. So what can we try to get from all this? 
 Let’s start with the key indices… 3
  4. 4. DrosNotes June 24, 2018 $ES_F / $SPY / $SPX Bull-trend intact long-term. The purple line drawn is the weekly reversal level [the chart is a one day tick though]. 4
  5. 5. DrosNotes June 24, 2018 $DJIA / $YM_F / $DIA || $NDX $NQ_F $QQQ Same as above really, as with the Nasdaq but expect more volatility from the $QQQs this week. Here’s charts of both, once again with the purple lines representing the weekly reversal levels against a daily chart. There is one difference and that is from a technical perspective, the Dow is in a minor bear trend from a daily outlook. I don’t think it’s anything to worry yet, but I did add to my $DOG equity position last week (Inverse Dow ETF). 5
  6. 6. DrosNotes June 24, 2018 With that said, I’ve gotta say to expect another choppy week. 6
  7. 7. DrosNotes June 24, 2018 Here are my thoughts on daily trends [these are major turning points; it doesn’t mean you shouldn’t swing trade or enter long positions in them, just watch these price levels regardless of which way you’re trading them… Gold - Bearish until 1292. US Dollar - Bullish until 93.45 Crude Oil [Light and Sweet - $CL_F) - Bullish Until 66.07 Stocks to Add To Your Buy Watchlist: • $PCG • $WMT • $AAPL • $LBTYK • $EWZ • $TUR • $ILF • $MRO • $MDT • $APC • $USO • $UCO 7
  8. 8. DrosNotes June 24, 2018 • $CCI • Two weaker signals but stocks to keep an eye on $LCRX $RTN Stocks to Add To Your Sell Watchlist: • $ADBE • $BKNG • $CERN • $RL • $FLIR • $DAL • $RL • $NVDA • $FAS • $HACK • $XTL • $SMH 8
  9. 9. DrosNotes June 24, 2018 That’s all for now folks. Former discord members, we have officially to echofin. Also if you were never a part of the Discord trading room but are looking for a community of traders to learn from and ample real-time data to support ideas…come on over. We’re in a “beta” stage, so everything is free. Most of it will remain as such too. Join us here: As always trade safely and good luck. Stay tuned to the room, my StockTwits (, Twitter ( androsform) and blog ( for updates as we go. Cheers, - Dros Extensive Legal Notice: Nothing above is advice. Just the ramblings of a mad man. If you execute a trade that’s on you. 9