Weekly Market Outlook – Take Profit Trader – Topstep – Apex Trader Funding – My Funded Futures

Weekly Market Outlook – Take Profit Trader – Topstep – Apex Trader Funding – My Funded Futures

Transcript

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What’s going on Traders so every weekend I look back the week and then I look forward to kind of get some type of plan in my head um you know create some alerts just kind of look to see what’s going on um you know just so I have an idea of what I really want and this is how I catch my the big big moves both in in uh prop firms and options um I I zoom out cuz during the week

You see me I’m trading on the one or the five mostly but now when I’m looking on the week I zoom out to the Daily the 1 hour the 4 Hour and I kind of get a gist of where I want to purchase um you know I’ll set alerts to buy intraday but also swinging options and things like that and just kind of looking real quick on the cues um I’d love to see a pull back to the 34 which is

This uh Green Line you could see when we were trending up previously uh we basically kept pulling back to the 34 and then you’d get some solid bounces right off of it um you know we we did it again here so that’s kind of what I’m looking for is a pull back to the 34 which would be around I don’t know four you know by the time it reaches you know this is obviously trending up maybe it’s like 4 479 478

So that’s kind of what I’m looking for um being that we sold off end the day Friday that is not showing strength but you know the whole Trump thing that happened over the weekend um I was reading the markets were you know were poised to make a big push on Monday so obviously news and world events can shift starts you know we cannot pull back and just kind of create new highs here without a doubt um that’s what news does but

Just overall I’m looking for that um I do not like that we created a sell signal here normally when we create a sell signal we’ll get a couple days down um let me go to the one see what we got going on here I mean I would love to get you know some type of pullback to the at least the 200 here here be 480 actually 480 coincides with like you know the 479 area so that would be nice you can

See we did that hourly dump at the end of the day uh I think if we do get under 490 we could possibly uh go down I have an alert set right here for a bounce at 487 that was the breakout point right here that we broke I think if we retest that you’re going to get a bounce um whether that balce lasts 15 minutes 1 Hour 4 hours 2 days I think you can get some type of Bounce in that

Area um so I’m probably going to take an options position there and probably Buy in you know the prop firms as well um so that’s my first bounce Point uh let’s see what we got on the 15 15 we’re sitting right at the 200 I mean it could definitely turn from here I mean I don’t want to I don’t create like a bias I kind of set alerts and I already have my alert in so I just wanted to share that

Uh with you guys but uh things are starting to on the larger time frames you know the hourly the daily we’re starting to turn back down um I do think we’re overbought I I mean listen like you bring up this is what the daily looks like I mean we’ve had a crazy run um we’re up you know what is this April from April till till now we’re up almost you know 20% I mean you know we’re up a lot here if

You go to years past I mean obviously um Co and everything else but like this is what charts typically look like like up dip keep going dip a little bit and then you know that’s typically what you see is kind of like a steady grind you know you’re not you know these are all kind of steady grinds you know so for us the last couple years have been absolutely crazy I mean I’ve traded through a lot of stuff but this last

Couple years have been Bonkers I mean that’s the covid drop and then they just pump money into the system um you know and then obviously the inflation caused the craziness I don’t want to get too far in the weeds but like you know we are having that grind pull back grind pull back but it’s large I mean you’re going from you know 341 to 500 in you know in less than a year that’s a a large large runup so I don’t

Know when the uh it’s going to stop but at some point the music does stop um you know if you look at housing verse income housing costs are becoming not affordable for people um there’s a lot of underlying uh things that are happening in within the economy that people do not realize that um will come out once we start dropping they’ll be like oh well housing has been you know shot up and now it’s coming down like things that you could

Look at um you know credit card debt like credit card debts at an all-time high you know no one’s talking about that because the markets are going up but once the markets start coming down then you know it’s going to become an issue or you know the average savings you know that people have is going way down so all these underlying things are happening but no one’s talking about it because the markets are making new Highs but once we start pulling

Back these things will come to light and then it’ll be you know a factor and then you know that’s the next uh you know headwind but you know cuz obviously inflation is quote unquote in check at this point um you know do I think it’s check not really but you know that’s what they’re saying that’s what they’re telling us so you know I think there’s a lot of underlying things that are going on within the economy I think it will come

Out but bad things typically don’t come out until the market starts pulling back so we’ll wait and see uh we’re obviously up a tremendous amount this year uh the earnings keep going up so it will be interesting I mean honestly it’s a handful of stocks that are driving this but it’s interesting to see um what happens but one bad quarter from them and um it might cause a downtrend for you know two years you might have that uh hangover from like

You know the right here basically from 21 all the way to uh basically January of 23 so what was that that was I was about about a year a year downtrend so you know you might get something like that if we start getting bad quarters you might get a year or maybe two years of just kind of downtrend and you know and then kind of flat but uh I feel like the market needs something like this um just a real good

Consolidation period let things cool off get the underlying economy in check and then we start going so I didn’t mean to get too far into that um I do think that I do not like how we closed um you know we dropped you know like 200 points end a day that’s not what you want to see so but after the Trump thing I’m curious if we start ripping on Monday or uh you know it’s a pop and drop we might have

A open and then uh kind of just sell off so I’ll be I’ll be looking to play a bunch of things these are just my ideas This Is My Idea session um I go over a bunch of stocks that I’m looking to invest in as well I don’t want to bother you with that but just my thoughts on the market in general and um I guess we’ll uh we’ll go from there