Our Live Trading Rooms Bring Together Thousands of Traders from Around the World!
Last Tuesday afternoon, hours before CAVA (Cava Group) was scheduled to report Earnings, this is what I posted for MPTrader members:CAVA reports Earnings after today's close. Approaching the news, CAVA is circling 61, a full 40% beneath its April 2026 high at 98.79, amid an unconfirmed new corrective low at 60.21 yesterday (8/10/26), leaving CAVA positioned for a "buy-the-news" setup (the opposite of a sell-the-news setup in a name that is up 30% to 40% approaching Earnings).
Note that simple symmetry support along with a 1.618 extension of a prior swing identified the 61970-62405 area of support as a key decision as it included 3 price relationships in a relatively tight zone. I can't tell you that I predicted the type of rally we got off this area, but the support held beautifully and with this really we cleared quite a bit of overhead resistance within the last few trading days. Remember the way we use Fibonacci is we identify a setup such as a price cluster.
In Case You Missed It…I was unsure what to expect this week, but was ready for continuation higher. We got slight weakness instead. The larger takeaway is that equity indexes did hit a new high in early August, traded sideways for two weeks, and is now headed down to test the top of the sideways range it had been in for months. Volumes are consistent with summer trading.SPX closed the week at 7674.37, approximately 111 points above last Friday’s close and right at the Gamma Threshold level.
Our Technical Analysts Share Their Expertise 24/7 on a Vast Range of Markets!
