Spotting Profits And What’s Creating The Rally

Posted by Joe Duffy | Feb 26, 2024 | Joe Duffy's Trading Advantage | 0 |

Last week I said there were some dents showing in the market’s armor. But Nvidia up $100 after earnings really helped the market in the later half of the week. As well, Apple, which I said needed to be lower if the market is going to have any downside, also hung in and was sideways to higher. So where does that leave us?

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Well in my view, Nvidia can’t save the uptrend by itself, and I think this week, the market should see some downside. I still like MARA higher and added a new long last Friday. I will grab profits on the first long MARA diagonal bull spread which closed at 65% profit. MARA earnings are Wednesday after the close. I added a vertical bull spread for March 01 in MARA and will hold that through earnings.

Thanks,

Joe

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Joe Duffy

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