The Shakedown 6-27-21

LAST WEEK, S&P 500 (+2.82%)

Monday: +1.43%

Tuesday: +0.53%

Wednesday: -0.12%

Thursday: +0.59%

Friday: +0.36%

We got a strong week out of the market with 4 out of 5 green days. We saw that continued strength in tech and growth stocks which has lead to a great trading environment for us. Futures are gapping higher slightly Sunday night, we will see if the rally can continue.


News wise we should be keeping an eye on the bi-partisan infrastructure deal out of the government. The details of this bill will pave the way to whether or not there will be corporate tax hikes, with all indications pointing to they will in some fashion.


I'm a broken record at this point but selectivity continues to be the key to success in this market. The less names I trade, and the harder I concentrate my capital into the best setups, the better I'm doing. In the broad market stocks did just rip higher from support to resistance very quickly, so I would not be surprised to see some sideways digestion this week. As long as the market's not falling apart, individual names should continue to move really well. 

Earnings This Week

Click the above picture for a full list of the companies reporting this week




I can only remember a few other times when I've given out back to back trade of the week's in the same name. This PATH is well deserving though as it gave us another week of consolidation at support. We saw the buyers stepping up Friday intraday signaling this one may finally be ready to go. 

PATH is a software company specializing in robotic process automation. Love this company over the long term. They IPO'd in April and have had some wild gyrations in the stock. Since it's last run, it's pulled in about 25-30% from highs as it's found some strong support in the 67 region. The stock appears ready to bounce off that support higher and go on another run. Looking for an entry through 70/70.50 area as we've seen sellers in that area all last week.

Trigger: $70/70.50

Stop: $67.89

Target: $78-86+

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