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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
NVDA into $1253 PT
THEN premarket I said I really like PYPL + PLTR as best chases/swings.
But the theme of Semi’s continues with AMD joining the party
FAANG continued strength is not a sign of a weak market
TLT hovering at 93 resistance
DXY remains relatively weak
VIX pushing into 10.80 below the 12$ level IN TIME - likely by July 1st
TTD continues to look good long
NVDA, LLY, NVO + BSX at some overhead Fib levels of resistance
But market will be soggy with NFP tomorrow premarket.
Watch SVXY + BXM for reversals
HA - Long NVDA into 1250; Short NVDA CHASE on break of 1224.50 back 3D with overshoot to gap fill at 1164.37
PYPL 65.75 is trendline resistance, has to prove to get above to 67.58, 69
PLTR above 23.3 next is 24
LLY 838.98 fib level if it gets above next is 850, but a gappy product
SMCI below 794 mini chase to 775
TLT hanging out under 93
BXM still in a squeeze market shake n bake
META above 487 we have 503, 505
COST pushing to 850 above 835
AMZN above 182 pushing into 184,186
Michael's Trading Room Summary
JUNE 6, 2024 AM
MAG7 - blue sky's.
Weighted Dollar / Yields Ratio - came close to 275 daily; turned slightly higher but still under 280. Looking for 300 in a few weeks.
IWF:IWD - premarket pop into 2.00 daily. Still bullish across the highs. Bounced Sharply; has not yet rolled back over.
INTERMARKET
T2104 - net buying still;
WTI CRUDE - tiny bounce; firmly below 75.65 daily.
GOLD (futures) - Sideways
FX
USDJPY - 156 daily; BOJ still talking but we are not seeing anything. Continues to move higher... JGB - still fading & now under 1.00%.
BONDS
TLT - still more bullish than bearish.
TNX - 4.2% still in play.
INDEX
SPX - 5340 PT; may digest here but not bearish.
SPY - break 534 to have some play in here.
BXM - call buying early; called it so cheers if you played it. breaking higher; No trend has broken. BXM still in a squeeze market shake n bake
QQQ - ATH's yesterday; gapped above a gap; Blue Skys. Break 461.50 for a short play.
VIX - no real turn until 10.60 daily.. and that call is still working.
CHASE
AMZN above 182 pushing into 184, 186
COST pushing to 850
LLY 838.98 fib level if it gets above next is 850
META above 487 we have 503, 505
PYPL 65.75 is trendline resistance, has to prove to get above to 67.58, 69
PLTR above 23.3 next is 24
SMCI below 794 mini chase to 775
TLT hanging out under 93
TREND
LLY - FDA suggests safety warning of their Alzheimer's drug
HONORABLE MENTIONS
Services Data continues to be strong.
AMZN - after it hit the PT it popped back up;
ASML - weekly scoop pattern; the bears blew it; Still in trend.
AVGO - turned tail & went back up - still in trend.
COST expecting digesting at highs here.
COIN - bullish.
CPNG - doing fine. LRE - if it can stay above 21.31; breakout above 23.36 weekly for a better trigger.
CIEN - nice - technically it looks good. 50.10 daily breakout. Get above 53 weekly or stay above 50 daily.
CRM - could see the 200-day MA tagged in a bullish grind. Strong reflexive bounce off the weekly MA.
DELL - 131 weekly; If we can break 55-day MA then we could see the 118 area daily (100-MA daily).
FIVE - large gap down. 105.33 hourly hit in the fade lower. well outside of the 55 day (below it). Reflexive bounce off that 105.33 hourly level. Keep it above 112.
GLD - sideways
GWRE - anything above 125 is a continuation.
GH - channel of chop; looks great.
HOOD - meme madness; weekly breakout.
HPQ - sharp push; headed into a weekly mess above; strong but thin.
IRM - doing really well.
LULU - news popped this into 334.82 daily level - faded lower as the market opened today. Having a bounce - no question. Does not look exciting - not a good long play.
LU - dropped into 2.80 weekly. up a goodly amount from the split.
LPG - large gap down; could fade into the 55-day MA around 43.50.
MSFT - has not rolled over
META - has not rolled over; bullish gap up.
NFLX - has not rolled over; still bullish. Above 639 is continuation - 646 pt.
NVAX - dropped;
NVS - Trend Basis - looks very bullish. 105.50 weekly level is breaking out again... or not. Very strong. Channel Surfing action. 105.56 monthly.
NVDA - bullish breakout w/ continuation. Sam Said "bullish above 1118 / bearish below 1118" - so cheers if you took that. Still in play. Last week we had some indecision (doji). Gapped up Weekly (that is very bullish). Doji Sandwich ... awesome. Options have been very bullish as well. 1263 hourly tagged premarket. Getting parabolic but not done. 1334.60 weekly PT using extended Fibs. 1500 PT above that. 1275 is a MSFT valuation level (having already leaped over AAPL's valuation level). Don't short all time highs (don't buy all time lows). Could even see pullbacks into 1050 (no reason to think it would - but it could) and it would still be considered bullish even at that point.
PYPL - 67.50 is supply; has not broken down. Forming a possible LRE for higher. Hitting 65.00$ in hourly chart. Get above that on hourly; get above 63 on daily or get above 67.50 weekly for a new long play. 65.75 first PT.
PLTR - looks very decent. 24 PT.
PINS - bullish. Get above 41.60. Looks good.
NVDA - keep it above 1224 w/ PT at 1250.
SLV - sideways. breaking higher on the hourly. way strong. Not sure if the pullback is done; keep it above 27.17 ... if that breaks we likely see the 55-day MA or the 25.90 level.
SQ - depressed.
SHOP - no interest.
SBUX - hitting 55-day MA. Announcement today - making it move.
SMCI - Stay below 800- could take it back to 745 daily. Weekly - keep it below 828.
TM - sales came out & were really strong.
TWST - above 50.50 weekly looks good.
TD - price does not care about the negative press on this.
TSM - getting above weekly 158.40. Getting pushed back at Bollinger weekly.
UBER - gap n crap.
XLP - back up.
ZIM - digesting.
TODAY - it was
#1 - PYPL - 65.75 PT.
#2 - NVDA - 1250 PT.
#3 - PLTR - 24 PT.
Weightloss Drugs -
VKTX, NVO, and LLY still look really good
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Samantha's RECORDED Live Trading Room - 6/06/24