| Mixed Action Still Bullish The stock market was mixed for the week with the blue-chips and the small-caps holding their uptrend channels while the Nasdaq and the S&P remain a tad shaky. While the talking heads and suit and the suit-and-ties continue to question higher highs, volatility remains heightened but is holding key resistance levels. The Nasdaq settled at 25,297 (-0.2%) with the low at 25,014. Key support at 25,000 held. Resistance is at 25,750. The S&P 500 made a run to 7,419 before closing slightly lower at 7,354 (-0.1%). Resistance at 7,400 was topped but failed to hold. Support is at 7,300. The Dow went out at 51,881 (-0.1%) with resistance at 52,000 getting cleared but failing to hold on the intraday run to 52,135. Support remains at 51,500. Earnings and Economic News Before the open: None After the close: AeroVironment (AVAV), Concentrix (CNXC) Economic News None Technical Outlook and Market Thoughts For the week, the Nasdaq sank 5% while the S&P 500 fell 2%. The Dow gained 0.6% while the Russell 2000 jumped 2%. Year-to-date, the Nasdaq has soared 9% and the S&P has rallied 7%. The Dow has advanced 8% and the Russell has zoomed 21% this year.The Nasdaq’s close below 26,250 last Monday was a warning signal that 25,250 would come back into focus. This level was stretched but held in back-to-back sessions to close out the week. Backup support is at 24,750-24,500 if 25,000 fails to hold. The June 9th low at 24,980 and Friday’s bottom at 25,014 represented -8% and -7% pullbacks, respectively, from the June 1st all-time top at 27,190. The 24,500 level represents a 10% drubbing.Lowered resistance is at 25,500-25,750 and the 50-day moving average and levels the bulls need to recover over the near-term. We would not turn bullish on the Nasdaq until 26,750 is recovered.  The S&P 500 has a new and lowered battleground at 7,400. Previous resistance was at 7,500 and a level that failed to hold last Monday. Both levels needs to be recovered before a return towards all-time highs north of 7,600 can be considered.Friday’s low at 7,294 easily held key support at 7,225. Closes below this level would be a bearish development with risk down to 7,150-7,100. The latter would represent an -8% spanking with 6,800 equaling an -11% selloff.  The Russell hit a fresh all-time high at 3,033 on Thursday with our April 17th upside targets at 2,900-3,000 remaining in play. We said closes above the latter could lead to a fresh breakout towards 3,150-3,100. A rip your face rally over the next six weeks (or into 2027) to 3,200 would represent 6% upside from current levels.Key support remains at 2,925 with additional help at 2,850 and the 50-day moving average. We wouldn’t turn bearish on the small-caps until 2,800 is cracked. The 2,925 level needs to hold into earnings season and late July to keep the overall market pushing higher highs, and to at least help the Nasdaq and S&P 500 possibly hold key support levels.  The Dow tagged a new record peak of 52,661 last Thursday with our April 17th Price Targets at 52,000-53,000 also remaining in the picture. We have a NEW Price Target of 55,000 on closes above the latter with our reasoning being Alphabet (GOOG) getting added to the index.Support is at 51,500-51,000. Backup is at 50,000 with closes below this level and out of the readjusted uptrend channel from May 20th being a slightly bearish development.  The S&P 500 Volatility Index (VIX) closed above its 50-day moving average on Tuesday and it was a good warning 20-22 could come back into focus. Friday’s peak reached 20.72 with the closes below 20 all week being a slightly and ongoing bullish signal for the market. Remember, closes above 22-24 would be a bearish signal for the market.Key support is at 17.50 and the 50-day moving average and levels that likely need to be recovered by the first part of the week to keep the bears at bay.  We mentioned at the beginning of June there could be some sector rotation that could lead to lower lowers, or flat action, on the Nasdaq and S&P 500 over the near-term. In return, we said the the Dow and the Russell would pick up the slack.That is exactly what we have seen with the Financial sector leading the way higher after banking and investment stocks have printed fresh and all-time highs throughout the month. Meanwhile, oil has fallen about 30% since mid-May despite the ongoing geopolitical concerns.We said last week we wouldn’t be surprised to see a rangebound market with possible higher highs into earnings season, or the second week of July, and when we believe the next MAJOR trend could start occur.The July options have less than three weeks before expiration and a time period we call the danger zone. This is when time premium will rapidly start to decay. We are now profiling August, September, and possibly October options for New Alerts as the regular monthly July option expire in 18 days on Monday morning’s open. We like to give 4-7 weeks for New Alerts to play out.Futures are showing a slightly higher open for Monday. Dow futures are up 146 points and the Nasdaq futures are rocking 173 as we head to press. The S&P futures are higher by 42 ticks and the Russell futures are up a deuce. |
Momentum Options Alerts Update for 6/29/2026 Closed Momentum Options Trades for 2026: 29-10 (74%, 8 triple-digit winners); 2025: 55-20 (73%, 17 triple-digit winners); 2024: 77-17 (82%, 38 triple-digit winners); 2023: 34-11 (76%, 8 triple-digit winners). Overall: 195-58 (77% win rate) 70 triple-digit winners. Please remember, all “Exit Targets” and “Stop Targets” are targets. You should not have any “Stops” entered to close any alerts or “Limit Orders” in your brokerage account unless we list one. We will send out an “Alert” or “New Alert” if we want you to close a position or if a new position comes out. Otherwise, follow instructions at all times in the updates on Monday’s and Thursday’s along with Text Alerts and videos throughout the week. Text Alerts (Telegram):Velocity Options: https://t.me/+uzxYHX8YEh85MzYx Pinterest (PINS, $20.82, up $1.34)Option: PINS August 26 callsExpiration Date: August 21st, 2026Entry Option Price: $0.50 (6/26/2026)Current Option Price: $0.50Exit Target: $1.00Return: 0%Stop Target: NoneAction: Shares can be volatile as the chart shows with key resistance at $22. There is near-term gap up potential towards $25-$28 on closes above $22. Fresh support is at $20-$19.75.We didn’t want to miss possible continued follow through in PINS following the breakout above a rising 50-day moving average AND the 20-day EMA on Friday. The Alert was a little late but shares didn’t clear the 50-day MA until roughly 30 minutes of the closing bell.We were looking at call options Thursday after PINS popped up on our screen on unusual call option activity. We were looking for a possible retest to $18 and maybe an Alert next week but we decided to go late Friday.  Teladoc Health (TDOC, $8.39, up $0.48)Option: TDOC August 9 callsExpiration Date: August 21st, 2026Entry Option Price: $0.60 (6/26/2026)Current Option Price: $0.65Exit Target: $1.20Return: 8%Stop Target: NoneAction: Shares closed near the session peak of $8.40 with lower resistance from last November at $8.25-$8.50 getting recovered. Closes above the latter gets $9 in focus. Fresh support is at $8.25-$8.We first covered this stock when shares cleared $6 back on April 20th. The Alert at the time was around earnings and the position was stopped out for a slight win. However, the July 7 calls are now at $1.40, up from a profiled price of 40 cents.We were teased last week as shares closed above $8 ahead of last Friday’s off day in the market. Monday’s pullback offered a better entry point for the August options and we didn’t want to miss a possible breakout and continued momentum towards $9.75. There is a big hurdle at $9, first, and gap up potential to $10.75-$12. Shares only need to be above $10.20, technically, by August 21st for the calls to double.There is nearly two months of time premium built into these options so we only need a 5%-10% near-term upside move to get a possible triple-digit return with these call options. Dominion Energy (D, $69.39, down $0.12)Option: D August 75 callsExpiration Date: August 21st, 2026Entry Option Price: $0.45 (6/24/2026)Current Option Price: $0.60Exit Target: $0.90Return: 33%Stop Target: 46 cents (Stop Limit)Action: Shares tagged a 52-week high of $70.17 on Thursday. Key resistance at $69.25 was cleared and held. Friday’s close also held this level. A move above $70 could get momentum going towards $72.50 in the mix and prior support from October 2022.We think Dominion could be a takeover target and some point down the road but we are more excited about the near-term technical setup and the company’s impressive earnings history. They pay a quarterly dividend with nearly a 4% annual yield.The all-time double top peaks north of $85 occurred in February and June of 2022. These options have 57 days before expiration with earnings due out on July 31st. This event is headline risk that could help or hinder this Alert but we are looking for price action to be on the move well ahead of earnings. Snap (SNAP, $4.41, up $0.07)Option: SNAP September 7 callsExpiration Date: September 18th, 2026Entry Option Price: $0.55 (6/1/2026)Current Option Price: $0.20Exit Target: $1.10Return: -64%Stop Target: NoneAction: Wednesday’s low hit $4.27 before a positive close. Upper support at $4.25-$4 held. Resistance is at $4.75-$5.The September options have nearly three months before expiration so we are likely going to let this one ride over the summer. We don’t have a Stop Limit in place and there is still risk to $3.75.Since 2023, we are 11-0 doing covered calls on SNAP and 8-2 doing directional Alerts, calls and puts. Wall Street has a love/ hate relationship with the stock because revenue is always solid, but earnings are erratic and why it remains in the single-digits. However, we love the volatility as SNAP is a great stock to trade in various ways.The company announced it will selling some expensive AI glasses to the tune of $2,195 so let’s see how this interesting story unfolds.Rocket Companies (RKT, $15.00, up $0.22)Option: RKT July 17 callsExpiration Date: July 17th, 2026Entry Option Price: $0.50 (5/26/2026)Current Option Price: $0.30Exit Target: 75 cents (Limit Order)Return: -40%Stop Target: NoneAction: Shares zoomed to an intraday peak of $15.54 on Thursday with early May and lower resistance at $15.50-$15.75 getting topped but holding. Fresh support is at $14.50-$14.25 and the 50-day moving average.Closes above $15.75 could lead to short-covering with momentum towards $18-$20. These options are in the “Danger Zone” but we are still hoping to get a profit out of them.Shares can be extremely volatile as short interest is high but we have been following the company for years. On the fundamental side, earnings have been steady and they have made acquisitions to strengthen and diversify their revenue streams.Our subscribers have enjoyed six triple-digit winners in RKT call options over 2024 and 2025. The biggest winner was a 475% banger in early 2025. We nearly had a 360% winner with RKT ahead of the January 9th breakout but closed the calls early and on the last trading day for 2025. So this is technically, our first Alert for RKT in 2026.  |