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Samantha's RECORDED Live Trading Room - 5/9/24

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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!


GET THE TRADE BEFORE IT HAPPENS

Rithika's Chase Summary

QQQ still holding firm, above 439 we have 442,445.34
DXY intraday rejection is bidding up the stocks again
SPY 518 / SPX 5200 will be chased... THEY ARE CHASING.
Just make sure it stays above... or the reversal can be just as quick
IWM above 204 for 209 again with weak yields
VIX continue down to 12.7 gapfill
GLD still in the digesting phase, pushing into 220
SLV pushing into 25.90 gap
SVXY not red yet, volatility not present
USD is weakening with yields as reason for the season PLUS slight spike in jobless claims supporting Fed cut expectations for Sept.
ONLY new sector rotation I like - after XLU - is XLP (KO, PEP) and XLV (UNH). don't want to chase bitcoin, tech, semis, gold/silver... but I want to stay long GDX gold/silver miners + XME metals/mining as commodities are ramping. I see a bounce in OIL/XLE/CRAK but not more. 
ARM below 100.70 can see 94
COST above 771 pushes to 778, 787
ABNB pushing down to 144.6 below 148
AMZN tagging 189.3 pt, now needs to maintain above 188.8 for 195,200
COIN needs to break 206 for 200,193.64
NVDA needs to stay below 889 if it wants to fill gap at 863
LLY above 780 next is 785,794,800
IP get above 41 for 43,46
ZIM above 15.47 we have 16.75
IPI above 23.5 next is 25.54 
BEST looking charts on wkly/daily timeframe have been OSCR + AVAV. Hitting PTs today after big moves higher.
Just be careful: there is a LOT OF CHOP so sloppy chasing. Need to pullback to swing level or trend. Just my $.02 - until we can get through the 24 hrs of MACRO  moving news next Tues/Wed: PPI, POWELL, CPI - then it should be a little better. ;-)


Share Macro-to-Micro by Samantha LaDuc

Michael's Trading Room Summary

MAY 9, 2024 AM

MAG7 - popped into new highs this week before selling out of it. Gapped lower yesterday but rallied up from it. Still bullish weekly. Still above the blue line.

Weighted Dollar / Yields Ratio - under 300; bullish below 300 & bearish above.

IWF:IWD - rejected 1.92 & gapped down yesterday; still chopping sideways & closed doji yesterday. At TL resistance. Nothing here - it's trying to bounce but it's not getting far.

INTERMARKET

T2100 - positive into the march highs.

T2123 - would be very bullish small caps if this got going. Breaking out. Pushing higher on weekly.

T2126 - it's trying.

WTI CRUDE - Not excited.

GOLD (futures) - chopping sideways daily;

Nat Gas - through the 2.30$ resistance on the daily; should now have that as support.

Bit Coin - 61k is a level to hold; three days of decline with long wicks across the tops shows the battle is far from over. Losing it's poof. weak

FX

Dollar (DXY) - expected a fade lower - thats baseline bet.

USDJPY - JGB 10Y - "if 0.80 then 1.00%) ... 155.75 resistance. Could see a third intervention so watching the JGB-10Y will be helpful. Below 152 is very bullish for stocks.

BONDS

TLT - gapped down into the 20-day MA but bounced back up above 90.00$% daily.

TNX - gapped above 4.5% before selling off and back into yesterdays range. Holding near 4.48 area daily.

ZN (10Y) - made it up from the TL - glued at PT.

ZT (2Y) - made it up from the TL - glued at PT.

10/2 spread - "waiting" on CPI.

INDEX

NYFANG - no new highs.

NYSE - if this rejects today - then the markets will be a lot softer;

SPX - chop mode. 5199 gap filled & now we are chopping; above is chase if we stay above 5200 otherwise likely to fade into 5130 area.

SPY - chop mode.

IWM - recovering... but "big deal" (like ... so what). IJR - a proxy for the "better" small caps.

QQQ - chop mode. 445.47 is gap fill & that is where we are headed after we get above 442.

BXM - at resistance weekly but has not rolled over. The buy signal is still there (no sell signal showing yet).

SVXY - gapped up weekly; still holding that gap up. Outside the weekly Kelts (top-side). A little red but not enough. Break 57 & get inside & then we'd be bearish again.

CHASE

ARM below 100.70 can see 94

AMZN tagging 189.3 pt, now needs to maintain above 188.8 for 195,200

ABNB pushing down to 144.6 below 148

COST above 771 pushes to 778, 787

COIN needs to break 206 for 200,193.64

GLD still in the digesting phase

GLD pushing into 220

IP get above 41 for 43,46

IWM hold above 203 for 209

LLY above 780 next is 785,794,800

MSFT above 412.47 next is 414.75

NVDA needs to stay below 889 if it wants to fill gap at 863. NVDA below 889 next is 863

QQQ needs to hold 439 we have 442,445 again below we have 433

SLV pushing into 25.90 gap

SPX above 5189 we have 5228,5264

UNH above 505 for 515 stop: 502

ZIM above 15.47 we have 16.75

HONORABLE MENTIONS

AMZN - stay above 188; doing fine.

AG - doing great. Scoop pattern.

AEM - get above 16.35 weekly & then it's off to the races.

ABNB - broke 159 weekly so needs to stay under there. 145 or 143 area as PT. a little early.

APP - mid-cap tech in trend. Moving higher on earnings w/ a good report.

ARM - below 100-day & below 100.00$. Roll over. 100.70 hourly is a nice level to short against. (105.25 weekly is a nice level to short against).

CELH - getting defended & hitting 80.44 hourly. back above the 55-day

CME - slower. stay above 209 weekly. Better would be - get above 216 daily; choppy.

CCJ - tons of calls coming in on this; they are chasing this position.

CBOE - hold above 184 daily. looks great. pushing higher.

COST - looks really nice.

EMR - great looking chart; back to weekly resistance.

FOUR - under the 200-day; under the 55-day. Breaking 49.59 offers a gap close to 33.

GDX - fine

GLD - fine.

GNCR - can't lose 133 weekly or 130 daily. Has to get above 141 weekly or 144 daily. That would be the nicer trigger (getting above 144 daily or 141 weekly). Breaking 130 daily offers 127 or 125.

HIMS - recovering;

HL - trying to recover from weekly support; get above 5.20 for a move into 5.50 & higher.

IP - resistance at 42 area weekly. above that - have a chance for 10.00 move into 52 area.

IPI - above the 55-day & the 200-day MA. Stay above the 50-week to be productive. Needs to hold. Nice bottom fisher. (NTR same space).

KGC - doing well.

KO - 62.90 weekly resistance. Get above that for a move into higher.

LLY - sideways weekly. Squeeze on hourly.

PAAS - hit 20.00 hourly. On week #5 trying to get above that level.

PRMW - blow-out earnings into 23.00 but that didn't hold & we have faded back into 22.00 daily.

NVDA - breaking 888 offers 860; pace yourself. upside offers 936. SHORTS - STAY BELOW 894 to make it into 862.

NEM - digesting at 100-week.

NEE - solid breakout. 76.67 resistance weekly.

OC - great looking. Has not broken. Weekly Kelts breakout.

RBLX - nasty. in the gutter

RTX - think that AVAV has the greatest looking chart in this space.

SLV - 25.55 resistance weekly.

TDD - get above 92.11

TMDX - above 100.00$ weekly now. Big breakout.

VST - crazy

XLU - solid breakout; 70 is monthly resistance.

XLP - 77.40 weekly.

ZIM - looks great. 16.75 weekly PT.


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Macro-to-Micro by Samantha LaDuc
Recorded Live Trading Room
Every trading day, Samantha runs a Live Trading Room from 9 - 11 am ET for CLUB/EDGE clients - complete with custom engagement, option analysis, macro event risks and market moving news. She captures the move before it happens & sets up the trade for clients across CHASE, SWING & TREND timeframes. CATCH HER RECORDINGS HERE ON SUBSTACK - posted by 2pm ET - except Fridays when she reviews ALL OPEN/CLOSED trades in her portfolios for CLUB/EDGE clients.