Hello Reader,
I hope you had a great week.

In this weekly newsletter, I will share with you some swing trade ideas followed by my weekly trading plan and analysis with key levels for ES/SPX, NQ, DJI, RTY.

But before I start today, let me ask you a quick question. Initially I had been thinking to send this newsletter on Sunday evenings. But today I thought it may be better for you to receive it in the mornings.
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Would you prefer to receive this weekly newsletter on Sunday morning or evening? I would appreciate it if you could please send me a quick reply with your preference for Sunday morning or evening. I know you may be busy, so please send me a quick reply: [Sunday morning] or [Sunday evening].

PEP - swing trade idea👇

Click on this link to open the chart on a separate window:
​https://www.tradingview.com/x/dqJ7m26b/​

PEP had a decent selloff recently after hitting a new ATH. Actually, it was partially because of the whole XLP sector. PEP had 50% retracement from its swing high and now it's at 182-183 support(SP) and demand zone(DZ). It also has a trendline(TL) as support. It had a strong bounce from the SP level on Thurs with higher volume, and it on Fri it formed a doji candle at SP and DZ.

I will open calls on PEP and target 186.50-188.50-191 PTs(price target). My stop-limit(SL) would be a daily close below 182. If it loses 182 SP, I'd wait for the next major SP at 177-178.

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• Swing trades with real-time entry, exit, take-profit & stop-limit signals.
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The XLP sector is at major SP and DZ👇

XLP also has a HVN(high volume node) and volume shelf around this SP level. If any daily candle closes below 73, it would be my SL and I'd wait for the next SP at 71.50-72.
If we a rotation in sectors and XLP sector forms an uptrend, I'd choose a strike with a 6+ weeks of expiration and I'd target 74.50-75.30-76.30-77.30 PTs or until I see a decent reversal.
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ORCL - Swing trade idea👇

ORCL has had an incredible run since Oct 2022: from 61 to 106. It has been one of the strongest stocks in the past 6-8 months.
On Friday it tested ATH from 10 Dec 2021 at 106.25. We can see a clear rejection from the resistance(RS) and a shooting star candlestick pattern. The RSI has a clear bearish divergence(DG) on the daily and 4H TFs(time frame).

I'd expect a retest of 99 SP level. I'd enter puts: a strike with a 6+ weeks of expiration and I'd target 99-97.40-95 SP levels. My SL would be a daily close above 106.25.
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I think the XLU sector is also at major SP and DZ👇

Before we analyze the futures I would like to mention that you need to be careful with long-term calls and bullish positions and actively manage them and take profits (don't be greedy).

I say this because the SKEW index is at hedging zone👇

Whenever the SKEW index approaches to 145-150 levels, I start hedging and I'm leaning more entering short positions unless there is lots of confluence on a specific stock to the upside: for example the PEP trade example above along with XLP.
I also take profit quickly and secure my gains once I'm in profits when the SKEW is around these levels. Consider this as a danger zone if you are bullish.

If you look at the chart closely, you will see that since 2013 whenever SKEW approached to 112-119 levels, we always had reversals to the upside. The recent example was Oct 2022. Since then ES had a 600 point run to the upside.
Now look how high the SKEW index was on Sep 2021 when the downtrend started followed by a correction and bear market.

Let's analyze the SPX weekly chart👇

SPX has a small gap to fill up to 4225-4230, which ES may fill during the overnight session (4226 now).
SPX is at decent RS level and supply zone(SZ). Bulls may still push up a bit more up until 4300 major RS and SZ. It's quite possible as bulls have been buying all dips since Oct 2022.

However, we need to be careful and consider other factors without being bias:

• SKEW index shows "danger zone" for bulls - time to hedge,
• NDTH is high - we may need a decent retracement,
• VIX is too low,
• US02Y is high,
• Put/Call ratio is at 'greed' level.

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ES/SPX - my levels for this week are:

• RS levels: 4230-4260-4280-4300.
• SP levels: 4210-4190-4150-4130-4100.

I'd trade level by level by taking profits as soon as ES hits one these SP or RS levels.

Let's analyze the NQ weekly chart👇

NQ is at major RS level and SZ. It's at GP now: 0.618 fib level from Nov 2021 highs and Oct 2022 lows.
Since Oct 2022, it has formed a rising wedge (can be even an ascending channel).
NQ is extremely overbought on all TFs - we need a healthy retracement before a new leg up, otherwise it's very risky to long anything now, especially the stocks in the Nasdaq 100 index.

NQ - my levels for this week are:

• RS levels: 14400-14450-14500-14600-14750.
  SP levels: 14000-13900-13700.

That's all!
I wish you a great week ahead and nice profits💰

• If you make some money using the swing trade ideas and/or the levels on ES/NQ, I would be grateful if you would share them with me via email and tag me on Twitter/IG.
• If you have any trade ideas or charts that you would like me to review, please feel free to email them to me at harrison@magnusinvestors.com. I would be happy to provide you with feedback on your ideas and help you to improve your trading skills.

Thank you for reading my newsletter! I hope you found it informative and helpful.
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