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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
Market still moving higher even though we are distributing under the surface
Small Caps with a lot of momentum going into this morning
Breadth still strong under the surface
Vix below 14.49 is still supportive of a bullish market , heading down to 13.54
SVXY not falling apart
SQ pushing above 83 into our 88.8 target, next is 93 decent lotto into earnings
AMD pushed below 197 into 193 PT, next is 185 and 183.8 after some digestion
TSLA heading towards Sam’s 167 pt below 170 next
BIDU heading up to 114 above 110
NVDA sogging but not falling apart, needs below 887 to pivot bearish
ROKU get above 66 it can fly into 70,75
BABA approaching 77.8 next 80,83
FCX pushing above 41.52 into 43,45
META filled gap, if it wants to be weak it will stay below 497 into 490,480 stop: 503
GOOGL tagged 140.8 PT, likely Peters
XLE,VLO,PBF still strong for higher
JD above 28 next is 30
PANW needs above 286 for a hourly breakout
HPQ > 31 also good for higherHopefully you heard my conviction for AMD to 193 from OPEN/PRE - as it was still my set up from Monday. It tagged. I still see a break to 183.83 - so still bullish below 203.60
Hopefully you heard how bullish I was past few days for GOOGL into 140. There now.
FCX 41.53 trigger with 43 PT. Tagged.
Hopefully you caught FCX - Archna's gap up and chase play sized up premarket >GPS continued as did RNA and CPNG.
Swing longs in CELH + SLV both breaking higher.
BYND looks ready for round 2!!
Best oversold value bounce plays: MMM + ADM
Michael's Trading Room Summary
MAR 13, 2024 AM
Tonight Sam & Geoff will have a session at 4pm.
Spot Gamma Quote: Currently we see skews flattening/shifting which is a signal that call demand has declined, and we also see an increase in IV. Taken together its a signal of short term topping. The reality is that the leading chip stocks are broadly down week-over-week (SMH -3% this week), and we do not anticipate another major leg higher this week.
CTA's are "fully loaded" - shouldn't see selling there without a macro trigger. Seems the market is pushing out cuts w/ a possible dot plot of 2 which may make risk assets come off.
MAG7 - at the highs of the weekly / daily chart but chopping about there.
Weighted Dollar / Yields Ratio - above 265 as support held.
IWF:IWD - Sam said "bounce into resistance" was likely yesterday - yup.
SMH:SPY Monthly Chart - Still looking for an answer of FBFF or if we keep going.
Intermarket
T2100 - still pushing high.
T2104 - "net buying" still in play in the small caps space.
T2123 - extremely strong
T2126 - still green.
WTI Crude - PT given yesterday was 75.59 short pt. Above the 79.11 pivot this morning. EIA at 10:30am today (every Wednesday).
GOLD (futures) - pulled back from 2200 soundly - still holding the pullback.
Nat Gas - back below 1.80 and still fading
Bit Coin - broke above 73k but was unable to keep it this morning. Looks like it wants to roll over into 65k
FX
Dollar (DXY) - Still inside yesterdays levels; back below 103 but chopping about.
USDJPY - trying to break outside of yesterdays levels; testing 148 in the premarket. Expecting to test 148.40 area.
Bonds
ZN (10Y) - Large outside bar Friday closed green. This morning we are doji on the daily but under the 112' daily resistance.
ZT (2Y) - Large outside bar Friday closed green. Down this morning but still well within Friday's range.
10/2 yield curve - still looking for 0.60%.
Index
SPX - 5200 calls cont to come in. 5189 is the level to get / stay above. They want 5200.
IWM - potential to pop.
IWC - sharp bounce.
QQQ - CVI indicator starting to roll-over. Could see more pullback on the NASDAQ. Tagged the 21-day MA 2 days in a row. Weekly implies digestion. Could see a fade into 440 but not expecting drama.
VIX - can't see support until 13.54 hourly.
SVXY - Just barely red. Needs to get inside 108.85. If it can drop into that & stay there ... then ok. Cant really see shorts unless this does get below that level.
Chase
AMD below 197 next is 195,193 and eventually 183.83
BABA approaching 77.8 next 80,83
CELH above 93.6 4next is 95,97
BIDU - Get above 110 weekly for a cont long . Let's see what happens at 114
FCX stays above 41.52 into 43,45
KWEB - fighting the 50-week; has rejected there many times. Barely above the 200-day now;
META filled gap, if it wants to be weak it will stay below 497 into 490,480 stop: 503
NVDA sogging but not falling apart, needs below 887 to pivot bearish
QQQ below 440.95 next is 439.25
ROKU get above 66 it can fly into 70,75
SQ lotto into earnings, above 83 into 88.64, 93.
TSLA heading towards Sam’s 167 PT
Honorable Mentions
AAP - continues. testing the 50-week MA. The down-slopping 200-day MA is still an issue. great chart. Would be surprised above 81.
ADM - has to get back above 57.76 weekly.
ABBV - perfect. Above weekly 176 - now that is support.
AMD - still has not made the gap fill. Rolling over; should hit 193 today. Stay below 205.60 daily.
BROS - that was awesome. Hitting the weekly 100-MA.
BMY - has stayed above; awesome.
BABA _ like it since 68
BTU - still expect that it will have it's day.
CWH - has a look but has not made it
CELH - been a swing long since 60 - still not done. SMCI proxy - maybe this would be a better pick.
COIN - short below 256.
CPNG - keep it above 19.06 weekly
CRSP - Coming back to 74 weekly. Still in trend but needs time.
DG - looks good weekly.
EBAY - very nice breakout above 46 weekly; just pushed 52 weekly.
EOLS - could still see 12.81 weekly short term - still looking long in the bigger picture.
FCX - long above 40.70. Keep it above that. 41.53 is the trigger.
GPS - hit 33 PT.
GDX - still bullish. If this turns back sharply - the NASDAQ likely turns sharply.
GOOGL - very bullish. Nice spike higher. Was expecting that. Above 138.30 weekly is bullish. "done today" at the 10-week. Hit the 55-day MA.
GLD - still bullish
HPQ - this is an "AI play" - with old tech "new again." 31 strike calls coming in. Looking to get above 31 weekly.
HOOD - 17.21 weekly is the level to get past; above that level could move higher strongly.
INTC - has to hold above 45 to cont. Lot's of shake n bake.
JD - next PT is 30 area (around the 200-day MA). Stay above 28 daily.
LLY - Still looks great. Digesting the weekly 800 area.
META - Still looks like a great short.
MSFT - hit the TL and came back in - shy.
MMM - getting chased. Above 99.77 offers 107.40 daily (in time).
NVDA - 1000 strike calls still coming in. Looks junky
PYPL - getting life (flows).
PNR - doing really well. protect into 72 area.
PBF - looks great. Options coming in.
PANW - keep it above 286; hourly squeeze breakout happening.
ROKU- has to get above weekly 66 & keep it - it could fly.
RNA - stunning. the 20.80 PT has been taken out. Extended. 24.66 next PT then 25.74.
RH - like it above 323 weekly
RXRX - still has buyers. 10.23 daily support. Holding above 200-day MA. Still has volume & bullish option flow.
SMCI - looks junky. Lot's of put riders.
SHOP - 10/21 weekly has not crossed over. Needs to stay above 71.43 weekly. Below that level is a solid short. A better long is above 83$ weekly
SANA - option are poor. Had strong buying spikes recently. Keep it above 8.08 weekly.
SQ - watch this to fill the gap; above 83 this could go long
SLV - TL at 23 is a threat (weekly) - take care at that level.
TSLA - short with 167.50 PT. 170 hourly gap fill - then 167.50 PT.
TWLO - under the 200-day MA. Get above 63 hourly.
TGTX - not a great chart - above the 200-day MA but that is about all we could say.
VKTX - bullish above 77; keep it above 57.50
VLO - looks great
WSM - earnings popped it; Now into 285 area.
XME - 57 daily tested.
XLE - still looks good. 88.77 weekly breakout.
Global AMZN “type” companies
SHOP: Canada
JMIA:
CPNG: South Korea
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Samantha's RECORDED Live Trading Room - 3/13/24