The looming Fed meeting is only helping the case for our trade from yesterday. It stayed flat through most of the day as the headlines battled on whether the AI risk was real or not. It seems like the question isn’t is their risk or not just how much and how urgent is it.

But we said yesterday that this may take a bit to play out and it looks like that is the case. The late afternoon set up in CRWD has to confirm support at 230 this morning to make the next move higher.

In a little more comfortable price range in terms of premium is a trade from the well we have been going to for a couple weeks. Here is another opportunity from the honey pot, take a look:

Just a quick note that we have been hearing from traders who have been really excited about Keith Harwood’s Hidden Trade Detector report. The good news is it is free and you can grab it here. be sure to check it out for yourself.

USO is in an unprecedented range to extend a rally but the oil situation is also pretty unprecedented. The last couple times we have seen these small 3-4 bar consolidations the WTF moves up more… as long as it is supported by the broader context of rising oil prices. We definitely have that context so let’s look at Oct 16 165 calls this morning when the market opens. They are sitting at $7.30 pre market and may jump a bit at the open.

There are a lot of forces working to bring those oil and gasoline prices down going into an election so we need to grab these moves while we can.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily