The market has rebounded with tremendous strength over the last 2 days to make new all-time highs in the S&P Futures today after trading down almost 1.5% to start the trading yesterday. We got Fed minutes on Wednesday, which the market liked, yet somehow on Thursday the market sold off broadly with the S&P, Dow, and even the Nasdaq all getting hit with negative prices. It didn't take long for buyers to buy the dip, and just like that we're back at record highs going into the weekend yet again. Buying the dips works every time until the last time. I don't see this market pulling back to any dramatic degree anytime soon, but I also don't see it making record highs on almost a daily basis, which is what we have almost become accustomed to. This market is relentless.

The VIX is continuing to make lower lows and lower highs. Earnings season kicks off next week with the banks, which could begin to add some more volatility to this market. We get CPI data on Tuesday as well.

We got indications today from the CDC that schools will be reopening full steam ahead for the new year regardless of whether all schools are able to follow exact safety protocols. This is good news for the economy as we need schools open to allow parents the ability to get back to work. It's also just good news for kids as they need the social interaction they've been missing so much for the last year.

We've had some dramatic pull backs in some of our equities like DIS and UBER this week, yet those stocks have the ability to rebound higher just as quickly as they pull back, as they are a bit more volatile than the regular market right now. Disney traded down more than 4% this week, and yet has gotten it all back plus some right now trading up 2.6% today alone. Uber traded down 10% this week at yesterday's lows, and has now popped more than 5% positive from just yesterday's open. We got some great executions in these equities and I see another leg up in the near future as their core businesses look to return to some form of normalcy over the next 3-6 months.

DIS is trading at $177.27. We bought DIS at $118.63. Disney has consolidated from the .382 of its run from the November lows. The next stop for Disney is $183.40 (the high from Dec 31st, 2020), which acted as support, and may now be an area of resistance as we trade up to that level. Disney traded down sharply this week but has rebounded nicely, bouncing right from the $170 area, which correlates to the .382 Fibonacci retracement area.

UBER is trading at $49.08. Uber continues to consolidate near the $50 price point, after having bounced nicely from its recent low of $43.17. Uber had pulled back to the .618 from its entire run higher from November of last year. Uber had also pulled back to a .382 of its entire run from the Covid lows from March of 2020. This is a nice area of confluence at about $45, which also correlates to the high from the week of November 2nd. Uber rejected lower price yesterday and continues to trade higher today now up 3.3% on the session.

WMT is trading at $140.61. We bought WMT at $140.91. WMT rejected lower price yesterday. WMT has been struggling to get above the $145 area, which correlates to the gap left open from their earnings in February. WMT bounced right near the 50% retracement from its recent run higher beginning in March. WMT also held the lows of May 13th, which is at $135.76. WMT also has a dividend yield of 1.57% right now at this price level.

MCD is trading at $235.13. We bought MCD at $216.91. MCD continues to consolidate after making all-time highs on May 3rd. MCD is in an ABC up formation, which will take it up to $255.76. MCD passed its B point the week of April 5th with 14+ million shares traded on a weekly basis vs. 10.5M and 9.5M at its B point back in October of last year. MCD is consolidating near its B point before trading higher. MCD has a dividend yield of about 2.22% right now at this price level.

CRM is trading at $246.66. We bought CRM at $215.35. CRM pulled back early this week but it's basically been a one-way trip to higher prices since May when it was at around $210. CRM continues to trade with strength to the upside. CRM was stuck in a downtrend channel line from the highs of $284.50, and it just broke out of that channel May 28th, came back and tested the channel line on June 3rd, and now it has bounced nicely to the upside from that area. A former TFNN host, the channel king Bud Rolfs, used to explain this exact formation of how stocks break out of channel lines and this is a textbook case. Look for CRM to continue the run to the upside as it goes for its all time high of $284.50.

Earnings on our radar next week:

Tuesday before the open: JPMorgan (JPM), Goldman Sachs (GS), Conagra Brands (CAG), Pepsi (PEP)

Wednesday before the open: Delta (DAL), Bank of America (BAC), BlackRock (BLK), Citigroup (C), Wells Fargo (WFC), Charles Schwab (SCHW), PNC Financial (PNC)

Thursday before the open: US Bancorp (USB), Cintas (CTAS), Progressive Corp (PGR), United Health (UNH), Morgan Stanley (MS)

Thursday after the close: Alcoa (AA),

I will have a new subscriber update out Monday also - stay tuned!

Options Trades:
None

Short Term portfolio:
None active

Long Term portfolio:

Long half position in WMT at $140.91. WMT is trading at $140.32. Stop is $125.31.

We are effectively long CRM at $215.35. CRM is trading at $246.46. Stop is $193.64.

Long half position in DIS at $118.63. Disney is trading at $177.24. Stop is $98.45.

Long half position in UBER at $31.50. Uber is trading at $48.97. Stop is $26.24.

Long half position in MCD at $216.91. MCD is trading at $234.84. Stop is $189.50.