July 17, 2025 Live Trading Room Market Recap & Trades
PEP, PANW, MELI, MU, ACHR, UUUU, ASTS, RGTI, JOBY, RKLB, QS, OPEN, LIT, ALB, JBHT, QBTS, SOUN, BABA
TRADE UPDATES
Economic data pre-market came in strong - jobless claims, retail sales… Buying and breadth were supported under the surface. I also said early that when VIX 16.82 breaks that bear flag on hrly, the market will go up. It not only went up, ES is also back above the trendline and pushing above ATH: 6333. That's bullish.
A few chases that were easy to spot this morning live:
PEP - post earnings opened at 141.89 and was clearly a long into descending wkly trendline with 145 PT. But I also said it WILL push into 147.20 - not if just when. Once it can get/close above there - also its 400W - it will be a lovely continuation swing long into 158 then 168. Earnings were a hit (given pricing power) but more important take away I thought was that this very oversold (under 400W value/staple stock left for dead) said the tariff impact is getting revised lower. That’s bullish.
PANW - hrly bollinger band squeeze on 194 trigger that ran to 197.60 at 21D.
MELI - short working into 2277.60 PT daily gap fill
MU - fell into 12.40 PT - can we get 108.75
Longs already in play:
ACHR - exploded another 11%
UUUU - exploded another 11%
ASTS - exploded another 9.2% - and as I showed yday we have lots of new Jan 27 strikes added: from $50 when I rec'd in Feb & March to now $80! That financed call spread from Februrary is now up 20,000% ;-)
RGTI - pushed another 3.5%