Link to FREE MarketSmith Access this week: https://shop.investors.com/offer/splashresponsive.aspx?id=MarketSmith-Free-Access&src=A00459A&refcode=JF_Links

The 10 Worst S&P 500 Weeks of the Year: https://twitter.com/WayneWhaley1136/status/1698774223823528164

Topics covered:
1) 0:00 Announcements
2) 1:00 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:30 FOCUS LIST: NVDA, MSFT, ORCL, ADBE, CELH, LLY, NOW, UBER
4) 14:15 Stock Review – Software: IGV (ETF), CRM, CDNS, SNPS, WDAY, APP, QLYS, AYX, ESTC, GWRE
5) 16:00 Stock Review – Energy: XLE (ETF), XOP (ETF), OIH (ETF), SLB, HAL, VLO, MPC, DINO
6) 16:50 Stock Review – Watch List/General Ideas/Commentary: SMH (ETF), ONTO, CLS, FN, CAMT, DELL, LULU, VRT
7) 19:05 Conclusion/Summary

Market Summary:
In this video, I review the recent price action and I also discuss psychology. This was a difficult week for many traders (including myself) and I want to encourage members to keep your head up! In my Seminar Videos, the first topic I discuss is mental strength and there’s a reason for that. If you want to be successful at trading/investing, there are going to be difficult times. The key is to remain mentally tough, make sure your self-talk is strong, and do your best to learn from your mistakes. I suggest journaling some of the things you could have done better this past week. That way, when a similar situation occurs in the future, you can make the proper adjustments and hopefully improve from past mistakes. Again, we’re not in this for one week. This is a long journey of constantly learning and doing our best to make consistent progress.

Regarding this upcoming week, I would like to see signs of the selling slow down, and see more stocks building strong bases. As I mentioned in many recent videos, the key is to be patient until we get through this seasonal weakness and let the market PROVE itself. I still think this consolidation over the past two months is a normal digestion within an overall new uptrend. I’m mostly basing this on the fact that the volume has not been super heavy during this pullback. However, I still want to see the market prove itself. Again, please be patient and I will continue to find strong relative strength stocks for when market conditions improve. If you have any questions, you can ask them during the next webinar, which will be this Monday, September 25th at 7PM EST. Also, don’t forget that MarketSmith is providing FREE access through Sunday. You can use the link above to sign up. Thank you and enjoy the remainder of your weekend!

Unusual Option Activity:
9/22/23 Russell 2000 ETF (IWM) seeing an opening seller of 10,000 Oct $174/$181 strangles at $4.12, willing buyer at 174
9/22/23 Tesla (TSLA) seeing 2000 Oct 27th $285 calls sell to open at $6.88, adjusting $300 short calls
9/22/23 Lululemon (LULU) seeing 1450 next week $395 calls bought offers up to $3.75
9/22/23 Uber (UBER) opening sale 5750 Nov. 3rd (W) $38 puts 0.51
9/22/23 Netflix (NFLX) seeing 1600 Nov $380/$400 call spreads bought at $9
9/22/23 Devon Energy (DVN) opening sale 1200 Janaury2 025 $42.50 puts for 5.72
9/22/23 Citigroup (C) trade sells 6,050 Nov. 3rd (W) $38 puts to open for 0.45
9/22/23 Pfizer (PFE) also 1400 January 2026 $32.5 puts sold to open 4.25
9/22/23 Sarepta Therapeutics (SRPT) with 440 Feb $75 puts sell to open at $7.50
9/22/23 Taiwan Semi (TSM) buyer 400 November 80/95 call spreads
9/22/23 Taiwan Semi (TSM) also opening sale 1100 Sept 2024 $80 puts for $6
9/22/23 Amazon (AMZN) size buyer of 2800 December $120 calls $15.80 to $16
9/22/23 Fortinet (FTNT) with 7500 March 85 calls sold to open for 0.50
9/22/23 Unity Software (U) opening seller of 400 Jan 2026 $28 puts at $7.30
9/22/23 Advanced Micro (AMD) large buys 1370 February $90 calls for $16.70 to $16.80
9/21/23 Nike (NKE) 1200 Nov 90 puts sold to open for 2.99 into earnings next week
9/21/23 Etsy (ETSY) opening sale 1650 June $50 puts for $4.59
9/21/23 Dutch Bros (BROS) seller to open 2000 January $22.50 puts 1.95
9/21/23 Uber (UBER) with 6275 November $47.5/$37.5 bull risk reversals opening $1.29
9/21/23 Uber (UBER) also seeing 1000 November $40 calls bought $6.15
9/21/23 Shopify (SHOP) opening seller of 700 April 50 puts into weakness for $5
9/21/23 MasterCard (MA) with 7500 Oct $430 calls sold to open down to 0.64
9/21/23 American Express (AXP) opening seller 400 January 2026 $140 puts $13.85
9/21/23 Intuitive Surgical (ISRG) with 775 April $205 puts sold to open for 4.60
9/21/23 89 Bio (ETNB) with a spread selling 1000 Nov 12.50 puts to buy 1000 of the 17.5/25 call spreads
9/21/23 Delta Air Lines (DAL) opening sale 1200 January 2026 $33 puts for 4.35
9/21/23 United Rentals (URI) opening seller of 250 Jan $480 calls at $20.10
9/21/23 Amazon (AMZN) 1200 Jan 2026 $90 puts sold to open for 6.10.
9/21/23 Analog Devices (ADI) opening sale 10,000 November 160 puts for 1.71
9/21/23 Marvell Tech (MRVL) with over 5000 Nov $45 puts selling to open at $0.75 to $0.72
9/21/23 Apple (AAPL) seeing opening sales of over 5000 Oct $172.50 puts for $3.25 down to $2.85 in large lots
9/21/23 Short Nasdaq ETF (SQQQ) with large opening sales of 16,000 Oct $18.50 calls at $2.08 to $2.17,
adjusting Sept 29th short calls and would imply a bounce in Nasdaq