Trade Plan for 2/2-2/6

Is the Glitter Gone?

Last week I covered the last of my $MSFT short from close to the highs:

I have mentioned several times in the front part of this weekly note that from a swing perspective, I have preferred shorting selected Mag 7 stocks over the indices themselves and I published my $NFLX trade on X. This one was also a good one. 💰💰💰

From a directional perspective I was most confident in metals declining last week, but the parabolic surge at the beginning of the week had me questioning myself. Still, my $GDX/gold miners stocks and $AG/Silver miner stock resistances were dead on and a harbinger for the historic decline on Friday.

The high of the week for $GDX was $113.50🎯 and the low, where it held so far was 93.12🎯.

In the front part of this note last week I told you that $CL/crude oil futures had held a breakout by .01. We saw follow through for both $CL_F and $XOP/crude oil equities.

Summary of Market Action Last Week:

· The indices rose into Wednesday, when they hit highs for the week and declined. $ES/SPX futures closed nominally green, $NQ/Nasdaq futures closed slightly red and $RTY/small caps futures demonstrated relative weakness.

· Precious metals chopped upwards into Thursday evening, but Friday we saw a rare bloody descent – giving back weeks of gains in a single day.

· $CL/Crude Oil futures and $XOP/oil equities both got positive follow through from a break out in the previous week.

Here’s how last week closed out:

For the week ahead (2/2 – 2/6/26)