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Samantha's RECORDED Live Trading Room - 3/28/24

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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

Market still holding firm
Tops take 6-8 months to form, so under the surface things are looking shaking
Sam still expects 5300 on SPX to tag
IWM 210 tagged, above is 212.45,215 and in time 222
DXY rejected the 104.8 area , keeping the market bid
RH broke above 340 into 350 next is 360,367 after some digestion
COIN rejected 270 but hasn't broken 256 yet
SMCI tired and chopping needs below 994 for weakness above 1060 for higher
JD needs above 28 for 29.46 approaching the 200 day
BMY above 53.5 can see 54.91,55.5
AMZN pushing towards 183,185 above 180
CGC must hold above 9 to push to 11
GM 45.50 weekly resistance here, good chase from 38
SNOW above 162 can see 165,169
GROWTH TO VALUE in full view so lots of strength under the surface.
NFLX + META chase short continuation today.
NVDA + SMCI worked well yday but today...
MSTR & PLTR short chases - esp PLTR as I warned early on 2 analyst hit reports.
Small Caps UNDER THE SURFACE are doing great - see SWING FAVE WATCHLIST as proof:
MY SWING PORTFOLIO IS COMPLETELY GREEN - ALL 16 NAMES.
One Short.
MY TREND LONG PORTFOLIO IS COMPLETELY GREEN - ALL 27 NAMES.
China names starting to look good again...GOLD is stronger than bear's breadth and INFLATIONARY plays rec'd are doing great:
DBA, XLI, XME, XLE, GDX...Tops are a process, not an event; this one could take many months. Until then, make hay while the sun shines!!


Share Macro-to-Micro by Samantha LaDuc

Michael's Trading Room Summary

MAR 28, 2024 AM

PCE came in a little weak - PCE Prices Final Actual 1.8% (Forecast -, Previous 1.8%).

Anualized GDP was 3.4 vs 3.2 previous (and estimated).

MAG7 - sideways all week; still holding the highs but really not making any headway. Tested the 20-day MA yesterday and still managed to close above the 10-day as well.

Weighted Dollar / Yields Ratio - still sideways - but now back below 275.

IWF:IWD - gapped up premarket - after closing at the lows yesterday.

Intermarket

T2104 - firm - very firm. Daily & weekly too.

T2123 - weekly is wicked strong. Daily too

WTI Crude - back above 82.50 premarket. Above 83 likely causes some drama

GOLD (futures) - back above 2200. Hot fire. 2222 is the next level to beat.

Bit Coin - back above 70k this morning - still sideways on daily. Momentum has left the building; MACD indicates some weakness (but still not a short signal yet.)

FX

Dollar (DXY) - 104.50 held as daily resistance

USDJPY - 151.50 held as daily resistance

USDCNH - hit rejection

Bonds

TLT - back above 94.50 daily. Quiet.

TNX - still holding under 4.25

ZN (10Y) - still sideways on daily.

ZT (2Y) - still sideways on daily.

Index

SPX - 5300 may get tagged.

IWM - Up nicely yesterday. 222 as a PT. Tom Lee has 305 as a PT ... !??!

QQQ - Still think April 440 puts is a good idea.

Chase

AMZN pushing towards 183,185

BMY above 53.5 can see 54.91,55.5

CGC must hold above 9 to push to 11

SMCI tired and chopping needs below 994 for weakness above 1060 for higher.

COIN rejected 270 but hasn't broken 256 yet

IWM 210 tagged, above is 212.45,215 and in time 222

JD needs above 28 for 29.46 approaching the 200 day

RH 334/333 danger area, get above next week could follow through to 345, 350.. RH 360,367 next

SPX - Sam still expecting 5300 on SPX

SWING

ANF - still like it short.

BABA

GDX - Will take some time but like it long.

XME - like the weekly "scoop" pattern. 61.80 weekly is current PT.

SWING IDEA

EWW - looks good above 69.00

LNC - like it long; Left-for-dead insurer coming back up from the dead. Daily Breakout above 30.33 w/ a daily PT at 33.37

MDT - like it.

RUN - 14.55 weekly PT - after trigger above 13.00

TPH - no options but weekly breakout looking good - like it. Looks like it could be a great trend - slow mover; but looks great.

WDAY - like it short into 263 then 252 in time. WDAY - looks like it wants to fall over;

VKTX - 88.75 is daily PT. Still good as a long

HONORABLE MENTIONS

AMZN - firm.

ADM - popped up; back above the 55-day MA. Back from "over-sold"

BAH - love it.

BABA - above 74 we'll target 80.00 weekly

BMY - keep it above 53 for a move into 55 / 56 area ... It looks good

CTAS - WOW

CPRT - love it

EL - not ready yet.

FIS - get above weekly 72.

GM - 45.50 weekly resistance. Perfect example of crossing above the 200-day MA and having that flatten out before the 200-day began to turn higher with the rally.

HBI - breaking out; Daily BB almost a squeeze. Above 55 & 200-day MA. Very bullish. Like this. 5.96$ weekly is the next level to get above.

JD - break 28 weekly for a cont higher; but a downslopping 200-day MA is a risk. We are above that 200-MA but have caution... we likely DO come back down to it .

KWEB - get & stay above the 50MA

MRK - if it stays above 130 then it likely moves higher.

MGM - options are poor; just don't like this - but it is breaking out (trying to).

MREO - 3.35 daily. Has some volatility... 2.95 weekly held.

NVDA - may see the first week of red in a long line of green weeks.

NEM - popped above resistance - still under the 200-day but working higher.

PLTR - insider selling alot. Be careful. 21.85 protect to level - or support. Careful if long.

RH - well run company; very costly. Breaking above 333 weekly again - into 410.50 possible... but options are a little tricky. Daily bollingers starting to "curl" in. Anything above 333 is just WOW - bullish.

SNOW - get / stay above 165;

SAND - 5.25 weekly resistance. Needs to get above that to cont.

TGT - great - if you are patient it will pay out. Has work still. Was way oversold - lots of chop; still looks good.

XLE - above 95 goes into blue sky; likely hits it head and digests first but still looks like it could breakout.

ANNX - continues to drive higher very well.

OPEN - 2.91 needs to hold; dangerous. If that breaks could see 2.25 weekly.

RDFN - realestate services & short covering; look for it to get above 7.00$ weekly - will take a LOT of time to turn things around. (see the 200-day MA is down slopping).


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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.