$SPX hits 6400 - Best Trades of the Week + More Charts

 The dash for trash continues in a meme trading environment, but most these short squeezes seem to be short lived. 

 CNBC's Carter Worth gave up on Ethereum only 2 days after pumping the trade last week. Shameful! 

See last weeks blog on that subject:   

The Crypto Trade, Bitcoin $IBIT, $XRP, The Stablecoin Act, and the $USD

 This week it was: Kohl's, GoPro, Krispy Kreme,  

 And look at who's behind it! 

 

Jim Cramer says Kohl's short sellers should ‘cover and move on' 

I'll trust the charts to guide me, rather than the master's of manipulation at CNBC

 $KSS - This view of Kohl's from my junk folder. Some of you may recognize this classic chart pattern as, "the rooftop of death".   

 

I suggest the short sellers double down, and I'm sure many did... that was a golden opportunity! 

Yesterday, we saw GoPro lose 40% of its value (from the highs) over the course of the day.   

$DHI DR Horton - up 12% for the week. 

 

I didn't bother updating the (above) chart, but I think you get the picture.

Here's another chart that's working  

$TXN Texas Instruments  - Pumped (to a new recent all time high) and dumped, and I suspect you're about to see a lot more of this in the near future.  

 

Today's Trade  

The trade that's getting the most attention this morning is Google, which the lame stream media (of course) pumped ahead of earnings, because the numbers were clearly leaked... 

My heads up on the situation: 

CNBC falsely claiming Google was on some sort of winning streak 

#CNBC falsely claims, "Alphabet is on a 9 day winning streak" $GOOG $GOOGL #TechncialAnalysis #FastMoney pic.twitter.com/pdWnKTdnPQ

— Veteran Market Timer (@3Xtraders) July 22, 2025

 The Gap Target is obvious, but it seems to already be overbought - trading near the top of the channel 

Alphabet $GOOGL #TechnicalAnalysis pic.twitter.com/JzX9CHYQFE

— Veteran Market Timer (@3Xtraders) July 22, 2025

 

Look, if the best the market makers can do is memetrades, and short squeezes, in order to help lift the lousy $SPX another 75 points (1%) (over the course of a week), I got no use for that.  

I suppose their psychological target on the $SPX is 6500, and that can easily be achieved, at the rate we're going, but don't become too complacent here, because the $VIX was just hammered to a new 3 month low.

The $VIX continues to make new 3 month lows. STOP trading; enjoy the summer, while it lasts. pic.twitter.com/ec1h8EOmF0

— Veteran Market Timer (@3Xtraders) July 23, 2025

 

Take care, AA  

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