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#trading-room-summaries by Rithika & Michael
Greetings. We are two of Samantha’s Live Trading Room Moderators. Rithika focuses on the the chase action for intraday moves. Michael captures a summary of all ideas & trades across all timeframes - chase, swing & trend. We both make best efforts to cover her trade set ups as well as those requested by clients in the room.
For best results, listen yourself. Or better yet, join us live!
Rithika's Chase Summary
SMCI pushed below 800 into 747 target rolling next into 707 target and ultimately into 666
NVDA beautiful short under 732 into 700,695, below 695 we have 666 next
AMZN stays below 167 would come back down to 159 but would really need to break and stay below 167
AMD still channel surfacing 176-164, if it breaks 164 we have big flush to 159.8
JETS over 20.14 can push to 21
ADBE headed to 518.94
MSFT made it to 399 target next we have 395,390
Michael's Trading Room Summary
FOMC minutes come out this week.
Sam put some writing into Slack this weekend; take time to check that out.
IWF:IWD - 1.98 is YTD highs made on FEB 9, 2024. Has continued to fade from that high & is nearing the 20-day MA for a possible bounce area. Closed Friday under the 10-day. 1.89 as a target ... that would be a "better" tell.
MAG7 - sideways for most of the week; still holding near the highs.
Weighted Dollar / Yields - Closed Friday above 275; still elevated.
Intermarket
T2104 - had "net buying" all last week but not aggressively. A minor amount of selling - not scary.
T2126 - weak but in trend.
T2123 - neutral... not even red yet. (breadth has not fallen apart yet).
WTI Crude - 75.65 "critical" level still holding as support. 79/80 area current daily resistance. New LIne is 79.11$ daily. Having issues with getting above that.
GOLD - 2020.00$ held Friday as daily resistance. testing against 2029 hourly this morning.
Bit Coin - failed to get into 53K on FEB 15, 2024 and has chopped sideways holding a range between 53k and 51k daily.
FX
Dollar (DXY) - missed hitting 105 last week by only a few pennies; chopping within a daily channel of 104 / 105$. Falling below 104 and nearing 103.80 area.
USDJPY - Failed to hit 151 last week but came very close; chopping on the daily between 149.50 and 151.00$. coming in sharply this morning.
Bonds
TLT - 92 daily PT continues to elude but TLT is still holding within the daily channel 94 / 92.
TNX - 4.328 daily was hit Friday but price then faded back to close below 4.30 on the week.
ZN (10Y) - fell into 110. Looking to "continue to slide down... see a little bounce.
ZT (2Y) - fell into PT. Still looking for 101 before stability.
10Y/2Y spread - expecting -0.60% still ... but holding sideways with a range -0.20 / -0.40. Weekly MACD bullish while daily MACD nearing a zero line
cross-down.
Index
SVXY - The weekly bar has a long lower shadow (near to 100) but closed closer to 107 on the week (greater than the 50% "half back" for the weekly candle). YTD price has stayed under 110 weekly but on Friday's close this was the 4th week at these levels as we continue to chop sideways. Opening red this morning. Opened gapped down on weekly. 102.65 was short pt. Softening again. 105.62 is the line to break for more weakness in the S&P.
VIX - Weekly chart shows VIX "almost" tagged 18.00$ before falling back below 15.00$ to end the week. 14.50 daily .. above is market bearish & below is market bullish. Opened nicely above 14.71 (above the 14.50 line in the sand). Very productive. Abvove 15 we can get into 16.50 but careful it's "Monday" (it's the first day of trading in a new week).
VVIX - hourly BB breakout.
SPY - Break 496 for a trigger into a "better" short. Could see 489 weekly if the markets continue with this weakness. Trend is still strong (weekly).
SPX - 4974 as next level to break. 4955 is next lower PT of this move lower continues
QQQ - 425 PT hit; needs to break that for a cont move lower.
CHASE
AMD still channel surfacing 176-164, if it breaks 164 weekly we have big flush. AMD below 164 we have 159.72 been here before
JETS over 20.14 can push to 21
NVDA - heading to 712.50,700,695,666. Short chase short term short. Earnings this week. NVDA below 694 we continue to 666
SMCI below 792 we have 745. SMCI on its way to 707. if 707 breaks 667 next. 742 is two levels of intraday support, could bounce before lower
SPY below 498 coming down to496, really need to break 496 for a flush.
VVIX little busy this morning
Honorable
Waste Management and Airlines getting some positive flows. Casino names are selling off pretty aggressively.
ABT - looks so great. Not a momo stock but looks great.
AAPL - coming back into 179 area. Gapped down this morning.
AMD - busted 169 weekly. 164 holding weekly. Breaking THAT level would be very bearish.
ASML - coming back into 888. Breaking below 888 says "this is broken."
ARM - bollinger band breakout.
ADBE - an A.I. play that failed to cont the breakout run. Coming back into the 50-week. Could use 540 as a stop; headed to 518 weekly. Don't let it go below 518
AMZN - still has not broken the gap up.
ANF - finally getting some selling here.
CRWD - soft week.
CI - doing well.
CAG - morning star reversal coming back up... look for other staples to also come up
CL - starting a "scoop" pattern on daily.
DOCN - earnings coming.
DKNG - a little sell - off. Testing the 21-day. Digesting the weekly. Has not broken weekly trend. Could see a little more weakness but on the weekly it's still not showing a reversal or a topping pattern. Still see selling.
DG - long call from Archnia - has work to do. Stay above 141.66 weekly.
DIS - digest here to be expected.
FLR - it's fine. Borning but profitable.
GIS - weekly has an interesting chart. Strong candle under the weekly BB. Hold above 65.50 weekly. Testing the daily bollinger band high.
JETS - broke above 19.90 weekly. (IYT:SPY ratio chart to see transports).
JMIA - normal digesting. Not falling apart.
HD - still has not broken the trend; even after earnings. Getting defended now after earnings.
IP - right back into the mess.
IOVA - pushing into 200-week. Extended out of the daily Bollinger Bands.
IR - 89 weekly held as resistance. Nice technical FBFF.
KR - looks very good... weekly.
KHC - coming back from the dead.
LIN - is great.
MSFT - finally made it to 400.00$. 399.38 hourly support has to get taken out for a cont short play.
MDT - nice turn around. Needs ot get above 88 weekly. Held above the 200-day.
NEM - getting bought up by Swiss National Bank
NVDA - Earnings Wednesday. Hit 732 weekly and closed below. Gapped down this morning. Some short PT's if you want to play a fast short ... 721.85 weekly is the level to stay below. Looks like a nice short into 700 .... 695. First PT: 712.50 daily. Pt: 694.97 daily. PT 666.00 daily.
OXY - needs to get above 60.73 to cont long.
SMCI - Below 742 we have a lot of room to the down side. 667 next PT.
SOUN - NVDA investment.
SLV - weekly bullish engulfing.
SHW - looks very productive.
TSLA - coming back into the 8-day MA
WMT - great recovery and now blue skys. Good Job longs.
XLV - nice continuation.
XLE - 84.40 weekly still holding weekly.
ZS - has not broken down yet.
Staples doing well - strong in this rotation. ..
ABT - breakout stock ... best looking of the group.
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