Welcome, and Happy Wednesday! If you missed our last post, find it here.

SPY continues its ascent to new all-time highs, TSLA trades within a volatile, nearly symmetrical triangle, and DOW is bulldozing through resistance like it's late for happy hour. Hang tight, it's a wild Wall Street ride today!

Let’s dive into the charts!

* MARKET INTEL *

SPY

Spy continues to make all-time highs but the rising wedge is narrowing quickly, signaling buyers are running out of steam.

Price sustaining above 564.5 should cause it to test the upper trend line.

* TSLA *

Tesla Inc

As volatile as ever, TSLA trades in a wide, nearly symmetrical triangle.

Institutional supply zones and a slight trend slant suggest a break to the downside after an upper trendline test, but it could happen today if the 257.5 level fails.

* DJI *

Dow

The DOW explodes to the upside in dramatic fashion, only reluctantly slowing in a strong supply zone.

The longer it chops upward, the greater the chance of a large downward correction, perhaps with enough momentum to break the bottom trendline.

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* MARKET INSIGHTS *

Economic Vibe

Movers & Shakers

• Molina Healthcare Inc (MOH)(+8.222%)

• Charles Schwab Corp (SCHW) (-10.177%)

• Raymond James Financial (RJF)(-6.275%)

* HEADLINES *

Top Reads

• Some Amazon shoppers are questioning the ‘deals’ on Prime Day: ‘Is Prime Day a scam?’ (Market Watch)

• Gold at record highs as rate cuts beckon, Trump talk hits Taiwan stocks (Reuters)

• Dollar wobbles with Fed rate cuts back in view (Reuters)

• Three Major Takeaways From Big Banks’ Earnings (Wall St Journal)

• Dow soars 700 points to record close (CNBC)

• S&P 500 Gains and Losses Today: Charles Schwab Drops as Firm Plans To Shrink Bank (Investopedia)

• Small-caps are breaking out and will rally 40% as the S&P 500 sputters, Fundstrat's Tom Lee says (Yahoo Finance)

• A reliable stock market indicator is flashing its first warning sign since 1999 (Yahoo Finance)

* IDEA *

High Probability Setups

KEY POINTS

• Breakout traders look for price movements that break through key support or resistance levels.

• Entry occurs when price confirms the breakout with high volume or significant price movement.

• Breakouts can lead to rapid price movements, offering substantial profit potential in a short time.

• False breakouts are common, so traders often wait for confirmation and use stop-loss orders to manage risk.

* WISDOM BYTES *

No Limits

If you always put a limit on everything you do, whether physical or in any other aspect of life, those boundaries will permeate your work and personal endeavors.

Understand that limits are not fixed; they are like plateaus—moments where progress seems to level off.

However, to achieve true growth and success, you must continually strive to surpass these plateaus.

Embrace a mindset of continuous improvement and resilience, pushing yourself beyond perceived boundaries to reach new heights of achievement and fulfillment in all areas of life.

* DAILY DOSE *

Memes of the day

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