Coach Mark here.

Fridays always excite me. Not in the traditional “everybody’s working for the weekend” sense but because I get an early start on building my watchlist for the coming week. Frank’s Charts on the Halftime Report on Friday is always a gem and the Scouting Report meeting we hold on Friday (and post before the market close in Discord) gives me high quality looks at things I might want to do before the market week ends.

In premarket action this morning Semiconductors are looking to breakout (again) from a nice high base pattern (SMH chart below). Semiconductors are at the heart of the AI story and I have been more active doing plays since Nvidia’s recent earnings in the space. That will likely continue continued technical strength behind what is inarguably the strongest bullish theme in the market currently.

Oil is also looking a little frisky this morning as crude looks to stretch above all its moving averages for the first time in several months. This is very interesting to both credit traders such as myself (I love selling credit on breakouts after a few days that hold) and directional traders. Interested to see what picks from the energy space that make the stock and options report this weekend.

Be sure to check out those reports and have a fantastic weekend!

Chart of the Day: Semiconductor ETF (SMH)

SMH is the semiconductor ETF that I track on a daily basis and looking to stretch its legs once again this morning.

Today’s line up

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Cashflow Club 8:30 PM EST

Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only the coaches at Tackle Trading can deliver.

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