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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
I'm still waiting on SPX 5340!!! My bet is before or just after NVDA reports!
Then let's see...VIX still hasn't tagged 11.81 target; break below brings 10.60 - no kidding.
Still bullish TLT into 10Y yield at 4.2.
Then let's see...TLT pushing towards 92.50,93 then well see
Breadth is still expanding but intraday net selling starting to pick up.
Market and sectors digesting waiting on NVDA.
I expect NVDA to beat and make a beeline for 1025 then soften, but I have no edge with earnings.
GBTC nice $5 move, some digestion and 65 next
TSLA above 177 next is 180,182.5
$AAPL 191 is sam's target, likely sees some digestion here
IBM needs above 172.5 for 174.76
NVAX above 15.4 we have 16.17
COST looks fine above 800 we have 805,810
JPM stays below 201 on the weekly, and a follow through below 195 then we have a nice short on JPM, for now just digesting
AA still doing great > 38.35 into 41.36 PT now 44.68 PT.
Michael's Trading Room Summary
MAY 21, 2024 AM
MAG7 - still at highs; chopping. Waiting on NVDA.
Weighted Dollar / Yields Ratio - above 288; tested that level again yesterday. Expecting 280 (that is bullish the market).
IWF:IWD - pushed through that daily resistance and is now into that 1.93 area. Broke above the TL.
INTERMARKET
T2104 - still rising; they have been buying off the mid - late APR lows.
T2123 - Breadth is still rising. Complete 180-degree change.
WTI CRUDE - faded back again - under 80 - testing 78 premarket. Expecting ULSD to break & hit 215
GOLD (futures) - 2450 daily resistance held; still looks bullish.
Nat Gas - missed hitting 3.00 but still bullish. Above the 200-day MA.
Bit Coin - news gave it a pop but above 70k; still has 74k resistance daily. Resumed higher.
FX
Dollar (DXY) - back above 104.50 daily but sideways. Nothing significant. Digesting. Looking for a cont move (lower?).
USDJPY - 156.50 daily resistance holding. Still seems strong but has been sideways daily. above 10, 20, & 50MA still. JGB - 10Y - "if 0.80 then 1.00"
BONDS
TLT - large gap up into 91.50 premarket after a gapped down sideways day Monday. Still above 20 & 10MA. The 200-day resistance was solid; heading back there again. Expecting to get above there. 92.50 pt then 93 & then we'll see
TNX - Under the 10 & 20-day MA. 4.450% daily resistance holding. Still looking for 4.2% (could take another month).
ZN (10Y) - settled lower into 109 (crossing under the 10MA) but came back above that this morning. Still above the 20-day.
ZT (2Y) - settled lower into daily support (101'20) w/ sideways 10 & 20 - MA's. Under the 50day.
10/2 curve - deeper is the base case - (-0.60%). (which means BONDS ARE BACK BAAAABY)
INDEX
SPX - 5292.15 is the level we are likely to test today. Profit taking / exhaustion (what-ever). "first touch & second break...?" 5284 then 5261 if overshot. (that would be dramatic).
QQQ - Has to break 449 for a 2-way market again.
VIX - came down. Shake n bake - tag your it. If we break 12.14 hourly the market will get a boost (the SPX / QQQ).
BXM - bounced monday - not w/ conviction. Looks Soggy.
CHASE
$AAPL 191 is sam's target, likely sees some digestion here
COST looks fine above 800 we have 805,810
GBTC nice $5 move, some digestion and 65 next
IBM needs above 172.5 for 174.76
JPM stays below 201 on the weekly, and a follow through below 195 then we have a nice short on JPM, for now just digesting
NVAX above 15.4 we have 16.17
TLT pushing towards 92.50,93 then well see
TSLA above 177 next is 180,182.5. TSLA 180.68 approaching, then 182.5,184.5
TREND
BJ - if 80 then 100 - has taken 2 years to get ready for this breakout.
BABA - could see more volatility in this; trend long your great. Would not surprise to see 81 before it goes higher. Needs to flatten out to go higher. Add Time. Get some protection.
LLY - breakout weekly; this is gold. above 800.00$. 815 long PT.
HONORABLE MENTIONS
Copper is still in a short squeeze; XME, GDX, SLV, GOLD Miners; Utilities are extended. Most Bullish chart is GOLD/SLV ratio chart. Transports are not doing so hot.
AAPL - still strong; at weekly KELT resistance - so likely digests here.
AMD - sideways into NVDA earnings.
AMZN - if break 180 then could see 174 gap fill.
CF - pushed higher.
CRWD - looks great ... but with PANW earnings it was a risk not taken & perhaps that was a good thing.
CPNG - 23.36 weekly resistance.
COST - still good.
COIN - rejected 229.
DHR - like this alot.
FSLR - not sure.
FIS - another one that looks productive.
FOSL - tangled into the 200-day.
GBTC - TOLD YOU IT WOULD PUSH - cheers.
GDX - 37.50 weekly PT hit. Careful here. Fine.
HIMS - added weight loss to it's product line & that popped the stock higher. (Careful - they may get sued by NVO or LLY (or both).
IYT - not what you'd expect w/ markets hitting highs. Looks terrible.
IBM - above 172.50 to get into 176. looks very good.
ISRG - weekly breakout looks like it is coming soon. Like this.
IP - got above the junk - looks good.
IPI - also pushed higher.
JMIA - careful; violent.
JPM - bearish engulfing; start looking for a reversal. Stay below 201 then get under 195.
MREO - coming back; still has not triggered. 3.35 is the trigger (weekly).
NVO - in play; looks like it wants to break 135.
NVAX - above 13.70 - could see 18.55 weekly in time.
ORCL - anything above 122.
PLG - launched
PBF - into the 200-day; sideways.
PALL - looks good.
SMH - has not come back into 231.
SLV - still moving higher.
SBSW - get above 5.82
SE - very strong reversal from Feb at 38.39 weekly. Hitting the 50-week. Could see 88 but stay above 66 weekly. Has to get & stay above 75 weekly for that PT into 88.00$
TSLA - above the 10-week; productive. Needs to stay above 177 weekly. Sideways on Daily. Trying to get out of it's pathetic space. Above 180 is trigger.
TTD - likely see 94 daily short PT. Stay above 92 weekly if long.
UPS - 144.80 & then we'll see.
VLO - has not filled 152.35 but expecting it will.
WMT - hot fire;
WMB - slow & boring; looks great.
XME - on it's way to 66 weekly. Fine
VKTX - still in play. Calls coming in - JULY 19th
XPEV - long target is 200-day MA.
XLE - hanging out at the 10-week; digesting 4 weeks. ZIM - strong on support
Transports (trucking recession)
KNX
BJHT
ARCB
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Samantha's RECORDED Live Trading Room - 5/21/24