BY LICIA LESLIE 

July 30, 2023

Hi Shoppers,

Freeport-Mcmoran (Ticker: FCX) looks to me like it is in consolidation mode:

Generally when a stock takes a pause and trades in a narrow range it is gearing up to continue onto its next leg higher (lower).

I think FCX will test that previous high of $46.70 which lines up with my pitchfork resistance.

Looking at the calls in the Aug11 expiration:

The 44 calls are trading under a dollar with two weeks to go.

Just use a close below $43 as your stop loss.

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SPDR S&P 500 (Ticker: SPY) did not give us any indication of trading lower on Friday, so I did not buy that put vertical.

Apple (Ticker: AAPL) finally closed above $195. Earnings this week will be very interesting.

Thanks for Reading … See You Next Tuesday,

Licia Leslie