Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:20 EDUCATION ON INTERPRETING WEEKLY CHARTS
4) 20:00 FOCUS LIST: NVDA, LLY, MSFT, ISRG, META
5) 22:55 Stock Review – Software: IGV (ETF), NOW, PANW, CYBR, CHKP, CVLT, VRNS, GWRE, APP
6) 25:20 Stock Review – Semiconductors: SMH (ETF), AVGO, TSM, CRUS, MPWR
7) 26:55 Stock Review – Biotech/Medical Products: XBI (ETF), NVO, VKTX, TMDX, HALO, MMSI, NTRA, NVCR, PRCT
8) 30:30 Stock Review – Others/General Ideas/Commentary: NFLX, ASTS, RKLB, LUNR, CWAN, SFM, PLTR, ONON, CAVA, FTAI, HWM, GE, NEE, VST, CEG, VRT, SPOT, COHR, DECK
9) 37:20 Stocks Near Buyable Ranges: XBI (ETF), IGV (ETF), META, NTRA
10) 38:45 Conclusion/Summary

Market Summary:
A simple way of analyzing the price action of the past few weeks is that the market rebounded off the lows and has been consolidating nicely over the past several trading days. However, when digging into the technicals, there are a few distribution days during this consolidation, and I review them in this video. When there’s a potentially mixed picture, I like to look at the positives and the negatives and always be open-minded with my approach. Positives: 1) All the major indexes are above their 50-day/10-week moving averages. 2) There are many stocks that continue to act well across many different sectors. Negatives: 1) Tech has been weaker and many of the Mag 7 names have weighed down on the Nasdaq Composite. 2) Sentiment is definitely higher, as the market has rebounded and more people have got more invested. 3) Seasonality. September is one of the weaker months of the year, especially the last two weeks of the quarter.

So, what’s the conclusion from all this? Continue to lean bullish because we are in a bull market, but keep your expectations realistic over the near-term. As I mentioned in my Market Note, I am certainly not bearish (as I am currently 80% invested). I am simply expecting more sideways action and more volatility in the upcoming month. Of course, I will be open-minded that the market could continue higher, but my instincts tell me to expect a range over the near-term before an eventual move higher into Q4. As always, I will take this day-by-day and continue to update you through these videos and Market Notes if anything important occurs in between videos. Thank you and good luck this week.

Unusual Option Activity:
8/30/24 Russell 2000 ETF (IWM) seeing 12,500 Sept 30th $210 puts sell to open at $1.97 in large lots
8/30/24 Semiconductors ETF (SMH) seeing buyers of 1000 Sept 27th $240 ITM calls at $11.50
8/30/24 Financials ETF (XLF) seeing buyers of 1200 Dec 2026 $52 calls at $2.75 to $2.90
8/30/24 Industrials ETF (XLI) sees 1000 March $125 puts sell to open at $3.00
8/30/24 Oil & Gas ETF (XOP) buyer of 3344 October $130/$120 put spreads for $1.35
8/30/24 Sprouts Farmers Market (SFM) 1500 March $75 puts sell to open $1.65
8/30/24 Walmart (WMT) massive buyers of 20k Nov $80 calls at $1.09, adjusting Sept calls
8/30/24 Sphere Entertainment (SPHR) with 3900 Oct $45 puts sell to open $1.75 to $1.80, adjusting weekly $48 short puts
8/30/24 Las Vegas Sands (LVS) buyers in March $40 calls 600X $3.40 to $3.50
8/30/24 Nabors Industries (NBR) opening sale of 1000 December $80 calls at $10.10
8/30/24 Wells Fargo (WFC) buyers of 570 Feb $52.50 ITM calls at $7.85
8/30/24 Morgan Stanley (MS) 600 Sept 2025 $100 puts sell to open 8.50
8/30/24 Goldman Sachs (GS) with 105 August 2025 $500 puts sell to open at $40.20
8/30/24 Affirm (AFRM) 1500 Nov $35 puts sold to open 2.04
8/30/24 Boston Scientific (BSX) large bull opening 9500 Nov $85/$72.50 bull risk reversals for $1.30 debit
8/30/24 Boston Scientific (BSX) also buyers of 1500 Oct $85 calls at $0.95
8/30/24 Nvidia (NVDA) seeing size buying across Sept 27th (W) 111, 112, 113, 114, 115, 116 calls
8/30/24 Nvidia (NVDA) sees a massive adjustment rolling the 100k Sept $105 calls out to buy 126,000 December $110 calls at $19.95 to $20, over $250M and the original buyer of the Sept calls was from late May so adjusting a winner
8/30/24 Dell (DELL) sees 1800 Dec 105 puts sell to open $7 and 2000 of the $125 calls sell for 9.40
8/30/24 Marvell Tech (MRVL) sees 8000 Oct 11th $64 puts sell to open 0.67
8/30/24 Palantir (PLTR) buyer 4750 Dec $45 calls for $0.59
8/30/24 Palantir (PLTR) 4250 upside Jan $49 calls being bought $0.49
8/30/24 Micron (MU) buyer 300 Sept 2025 120 calls $12.60
8/30/24 Apple (AAPL) late day buyers of 1000 Oct 4th $230 calls at $5.90
8/29/24 Russell 2000 ETF (IWM) sees 4000 Sept $220/$228 call spreads bought at $2.96
8/29/24 Semiconductor Bull 3X ETF (SOXL) sees 1900 Oct $35 puts sell to open at $3.80
8/29/24 Healthcare ETF (XLV) sees 3750 March $160 calls bought at $5.50 as the Dec $151 calls adjust
8/29/24 Elf Beauty (ELF) 700 Feb $95 puts sell to open $3.90
8/29/24 Sweetgreen (SG) sees 1000 Jan $32 ITM puts sell to open $5
8/29/24 Valero (VLO) sees 2250 Jan $140 puts sell to open $9.45
8/29/24 Affirm (AFRM) sees 4000 Feb $45 calls buying at $6.10 to $6.15 in large lots
8/29/24 Affirm (AFRM) buyers of Nov $45 calls 4000X $4.25 to $4.55
8/29/24 Coinbase (COIN) 185 Aug 2025 $175 puts selling to open 38.55
8/29/24 Viking Therapeutics (VKTX) stock replacement sells to open 700 Nov $70 puts at $15.30
8/29/24 Viking Therapeutics (VKTX) also 1100 Oct $65/$95 call spreads buying to open
8/29/24 Crowdstrike (CRWD) 1345 Sept $255 puts selling to open $3.50
8/29/24 Crowdstrike (CRWD) 2350 Oct $230 puts sell to open 2.93 as well
8/29/24 Apple (AAPL) buyers Sept $242.5/$255 call spreads 5000X
8/29/24 Dell (DELL) buyer 1100 March $130 calls $11.50 to $11.80
8/29/24 Dell (DELL) 1500 Jan $92.50 puts sold $5.30 bid
8/29/24 Nvidia (NVDA) 5200 Oct 4th (W) 100 puts sell to open 0.96
8/29/24 Nvidia (NVDA) 5000 Oct $98 puts sold to open 1.35
8/29/24 Nvidia (NVDA) buyer of 1000 April $120 calls $22.50 to $23.10
8/29/24 Nvidia (NVDA) also 1975 Oct $98 deep ITM calls buying at $27, over $5M
8/29/24 Nvidia (NVDA) size buyer of Nov $128 calls 4000X at $9.30
8/29/24 Snowflake (SNOW) 500 Feb $100 puts sold to open $6.85 to $6.65
8/29/24 Snowflake (SNOW) 250 April 95 puts sell to open 6.90
8/29/24 Amazon (AMZN) opening seller 600 April $160 puts $9.05
8/29/24 Amazon (AMZN) buyers of 2100 Sept $172.50 calls $4.85 offers
8/29/24 Micron (MU) 3000 Dec $85 calls opening 18.50 as Oct. adjust
8/29/24 Broadcom (AVGO) opening sale of 1750 Dec $174 calls at $10.71
8/29/24 Taiwan Semi (TSM) buyers of 1100 Sept $167.50 ITM calls at $8.45 offer
8/29/24 Texas Instruments (TXN) sees 5000 June $250 calls buy $9.45 to $9.55
8/29/24 Salesforce (CRM) buyers of 500 March $260 calls at $27 offer sweeps
8/29/24 Check Point Software (CHKP) unusual 500 January $210 calls are bought $5.20
8/29/24 Constellation Energy (CEG) more put selling as 2800 Oct $170 sell to open $2.36
8/29/24 Vertiv (VRT) 1350 December $85 puts selling to open $12 to $11.80
8/29/24 S&P 500 ETF (SPY) buyers of 4500 Nov $565 calls at $14.61 to $15.96
8/29/24 S&P 500 ETF (SPY) also seeing 1300 Dec 31st $540 ITM calls bought at $38.33, adjusting Nov 29th $525 call.
8/29/24 S&P 500 ETF (SPY) also large lots selling to open 4500 Oct 31st $543 puts at $5.45, over $2.5M showing confidence that dips are shallow ahead of election