To The Moon

The S&P 500 futures are showing a modest uptick of 0.2% in pre-market trading, indicating a potential recovery after back-to-back losses in the previous sessions. Investors are absorbing the latest commentary from the Federal Reserve, which suggested that future rate hikes remain a possibility. Nasdaq-100 futures are also on the rise, up 0.3%, while Dow Jones Industrial Average futures are trading near the flatline. In corporate news, retail behemoth $Wal-Mart(WMT)$ has surged 1.6% in premarket trading following an impressive second-quarter earnings and revenue beat. The company has not only raised its full-year guidance but has also highlighted robust performance in its grocery and online sales segments. $Cisco(CSCO)$, a prominent computer networking company, has gained 2.8% before the bell, thanks to an earnings report that surpassed expectations. However, semiconductor manufacturer $Wolfspeed Inc.(WOLF)$ has experienced a sharp decline of 13% after posting disappointing fiscal fourth-quarter earnings results that missed bottom-line expectations. This market movement follows consecutive losing sessions for the three major stock market indices. On the previous day, the S&P 500 experienced a decline of 0.76%, the Dow Jones shed 0.52%, and the Nasdaq Composite slipped by 1.15%. Investors' concerns have been accentuated by discussions within the Federal Reserve's July meeting minutes, which suggested the potential need for further tightening to tackle inflation. The current federal funds rate range lies between 5.25% and 5.5%. August has proven to be a challenging month for stocks, with major averages posting negative returns. Market valuations are adjusting from their previously elevated levels. In economic data, jobless claims for the week ending August 12 have fallen from the previous period, slightly surpassing Dow Jones estimates. Additionally, the Philadelphia Federal Reserve has reported an uptick in its manufacturing index for August, signaling an improvement in the sector. Possible Plays on the Index ETF $SPDR S&P 500 ETF Trust(SPY)$ Source: TradingView Buy Calls/Sell Puts when the price is above 441.60. Take profits when the price reaches 442.35-443.75 or anytime when you’re in profit. [Great] Buy Puts/Sell Calls when the price is below 440.70. Take profits when the price reaches 438.50-439.60 or anytime when you’re in profit. [Great] $Invesco QQQ Trust-ETF(QQQ)$ Source: TradingView Buy Calls/Sell Puts when the price is above 364.70. Take profits when the price reaches 365.55-368.30 or anytime when you’re in profit. [Great] Buy Puts/Sell Calls when the price is below 363.40. Take profits when the price reaches 361.30-362.25 or anytime when you’re in profit. [Great] Set stop-loss according to your risk appetite if you like my ideas and choose to take the triggers. Take profits early if low volume or the price action does not look good. [Victory] In summary, today's pre-market activity suggests a minor rebound as S&P 500 and Nasdaq-100 futures rise slightly. Corporate earnings from major players like Walmart and Cisco Systems are driving the positive sentiment, while concerns about inflation and economic momentum remain on investors' minds. Stay tuned for updates as the trading day unfolds. Disclaimer: The levels given are my own opinions and not investment advice. If you choose to follow the trade, do note that you are responsible for your own money. Prioritise your own risk management, expel emotions & focus on your trading plan. [Observation] Intraday trade strategy/guide: Trading Made Easy | Using Fibonacci to Trade Profits Introduction to J.O.I.T (1) Three Major Types of J.O.I.T(2) Follow @TigerStars @CaptainTiger @MillionaireTiger @TigerPM