Key Trading Themes:
The three largest companies IN THE WORLD closed at new all-time-highs today: NVDA, AAPL, MSFT
NVDA was the ‘easy’ chase with that gap up on Monday and Tuesday event with $200 as target. Well, it’s printing > $204 after hours.
AAPL held 246.30 last month and gapped up last week pushing into/above 260 target. Now 269 ahead of earnings Wed.
MSFT had news but also lots of time past two months to digest 500, gapping up Monday above 531 resistance! Tagged 556 today!
Earnings:
PYPL & UPS had big upside reactions to better-than-feared earnings, but neither could hold those gain - as expected.
REGN, on the other hand, opened with a nice pop at 612 )above 605 support & 200D), and slowly picked up speed - not only reaching my 641 / 50W target but closing on the highs near 652!!
NFLX was a perfect swing short target of 1097 and identified short-covering bounce there this morning. It reached all the way to its 200D at 1117 as called out (before getting rejected intraday).
RCL has been a very nice swing short set up into earning, that disappointed and dropped 9% today, forming a bearish engulfing on the weekly that is set up for more in time - to at least its 50W near 277.
NUE opened higher at 146 and pushed into my VIP monthly resistance level of 151.32 (overshooting near 155). Needs to get/stay > 151.32 to trend reverse higher - as in $50 higher. Looks good and worth checking in from time to time.
GLW is finally seeing some distribution after a long-protracted run higher since client Anne rec’d near 35 last year.
Trend long uranium stocks CCJ & URA since NOVEMBER 2020 had a very good day on news US Govt will invest $80 billion to construct new Westinghouse nuclear power reactors.
Wednesday morning could be quiet ahead of the MAG5 earnings and FOMC, so bring lots of questions/charts/trade set ups you would like me to review live in the trading room. Then I will run a live FOMC session from 2-3PM - just in case Powell surprise. Ya never know...
