The market appears to be on shakier ground as we close out the week.

There is a good chance the Thursday SPY and QQQ lows, break at some point in the next few weeks, so I'm glad we took profits in many of our Power Plays at higher prices.

Small caps are down today but not as bad as SPY and QQQ, so it will be interesting to see if IWM will lead again.

Next week will be very busy earnings wise as names like Tesla (TSLA), Google (GOOGL), Chipotle (CMG), Visa (VI), IBM (IBM) and others report.

We also have the PCE Index on Friday, which is important because the market wants confirmation the Fed has room to cut rates -- something I'm not completely sold on just yet.

Now let's talk about our Power Plays.

Citigroup (C): I added this to Power Plays Tuesday as a catch-up play in the financial space. So far it's going sideways. I still like the setup.

iShares Silver Trust (SLV): I also added this on Tuesday, expecting it to play catch-up to Gold. Unfortunately, this one is getting off to a poor start. It needs to hold the $24.75 to $26 area now.

XBI: I added XBI last Wednesday as a way to play a possible rotation away from big-cap tech. It got off to a fast start courtesy of the CPI report, and  we trimmed twice. I'll let it ride for now.

Baidu (BIDU) got off to a very fast start after we added it on July 9, but it came back down to Earth after. So I'm glad we took some off higher.

Rivian (RIVN): this turned into one of our best names of the year. We took profits twice, and we are down to 1/3 of the original position. I wouldn't chase it here.

Amazon (AMZN) has been frustrating as it's been held down by Jeff Bezos' selling. So I'm glad we trimmed it over $197. It's starting to look more constructive again, and could see better action into earnings.

Apple (AAPL) hit a new record high over $237 on Monday, so I'm glad we left a trailer on for Power Plays. I'm still waiting for a better setup.

Microsoft (MSFT) was in beast mode for quite a while, though it's come back down to Earth. Today it was tied to an outage from Crowdstrike (CRWD), but the stock came back. 

Have a great weekend. You earned it!

-Scott