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Samantha's RECORDED Live Trading Room - 4/23/24

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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

TURNAROUND TUESDAY was my bet yday & we got it!
Nice intraday gap fill yday for both QQQ + SPY - "bulls best friend" - so now they are right back into 424.83 + 505 PT. All thanks to weak US PMI at 9:45 that helped pull the USD + 10Y yields lower, giving support to the bounce PLUS dealers getting long gamma at SPX 5050.

Not big time bullish until SPX gets/stays > 5080.
In the meantime, expect chop intraday with nice bounces until we get through major earnings this week: TSLA, MSFT, GOOGL
Crude softening into 79.11 pt
USDJPY holding at these levels could call for an intervention
Nice follow through with China names: BIDU, BABA, KWEB....
Highest conviction long: NVDA into 823 - tagged
SHOP nice chase into 74 but once it gets/stays above 75.46 on wkly, it's a nice swing long potential
BABA pushing to 74 needs to push above this for 76,81
AVAV above 155.11 next is 157,160
ROKU above 61 has gap to 63
GM above 45.52 for 46.5
NFLX needs above 565 to move higher to 573,579, hitting against the 3 day
SPOT pushing 313 look for rejection there


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Michael's Trading Room Summary

APR 23, 2024 AM

MAG7 - big breakdown.

Weighted Dollar / Yields Ratio - still looking for 350. Could be a while - June likely. If we break 300 the market bounce will have more energy.

IWF:IWD - no real bounce yet.

INTERMARKET

T2104 - Sam said it would get some energy & it has. Turn around Tuesday

T2123 - Sideways; trying to consolidate that selling.

WTI CRUDE - soft into 79.11 PT

GOLD (futures) - still great; digesting. big dump w/ short term selling.

Bit Coin - up; proxies are also up (MARA, COIN, HUT, RIOT)

FX

Dollar (DXY) - firm into econ at 10:00 - then dropped below 106. Weakened more as the morning went on.

USDJPY - intervention still on the table. Very bid.

BONDS

TLT - weak.

TNX - not exciting; maybe it has a surprise coming. 4.688 still a level Sam is watching but not excited. firm

ZN (10Y) - needs to get back above the green;

INDEX

NYSE - Broken but not broken.

SPX - 5038.70 is the next breakout higher. 5150 would be where dealers are long gamma. Get above 5048 for a move into 5057. Getting pushback at the 8-day MA. Dealers need this above 5050.

SPY - 506 daily resistance; likely hits it head there.

IWM - "V" shape. pressing towards the 55-day.

QQQ - 423 hourly PT hit;

QQQ - 413.50 hourly bounce. Still has 422 daily resistance. Holding above 21-week MA. Bounced into the 100-day resistance. Bullish above 425.74 daily. 445.47 still a big gap to fill.

VIX - intraday support;

SVXY - trying to save & run back up.

CHASE

AVAV above 155.11 next is 157,160

BABA pushing to 74 needs to push above this for 76,81

GM above 45.52 for 46.5

QQQ pushing into 423,424.75 area above 421. 425.70 next

NFLX needs above 565 to move higher to 573,579, hitting against the 3 day

SPX above 5038 next is 5056,5064. above 5060 we have 5080 magnet. Strong long above that.

SPY over 504 for 506

SHOP over 73 for 74

NVDA pushing back to 823,844 over 800

ROKU above 61has gap to 63

HONORABLE MENTIONS

Like Miners & China ADR's --- CTA's estimated to be 10Bil sellers in a positive or negative market. New Home Sales BEAT nicely.

BIDU - better above 106 weekly, 109 weekly, 116 weekly...

BABA - needs to hold 68 weekly (yup; still).

BAC cont higher.

COIN - careful; has earnings. (Likely they beat).

COST - bounce into 728 daily.. makes a good target location to take a short

CLF - hit; back to breakout.

DHR - stay above 247 weekly.

EWH - broke 15 weekly & came back above it; under the 55-day MA. Under the 200-day MA. Under the 21-day. Has the potential for snap-back (higher)... really over sold.

ENPH - has earnings on deck

FSLR - a proxy for ENPH

GM - did great; above 45.52 weekly it can move another dollar.

GE - 158.50 needs to break for a bullish play.

GDX - oversold miners; could see a bounce.

KMB - into resistance at 138.87

LLY - Still above 21-week MA. Under the 55-day MA.

LMT - eh... had earnings. Not impressed.

META - earnings soon. They likely beat but it's the forward guidance after which is the threat.

NUE - back to breakout;

NFLX - back above 100-day MA. Tagging the 3-day. Above that 579 PT. "Anything above weekly 552 is a long" was called yesterday.

NVDA - bounce into 806; above 823 we WILL go hit that 844.44. Pushing into 823 breakdown point.

PDD - up strongly w/ EWH. 128.50 resistance.

PM - it did well; most of it's earnings are abroad so surprised it did well with a high dollar.

ROKU - keep it above 56 for a move into 61 (daily) or the 10-week (@ 64.61 weekly). Stay above 61.50 hourly.

SPOT - pushing 313 weekly; look for rejection there.

SLV - broke 25.75 weekly which offers 24.50$ & then we'll see. 23.84 is the mean (weekly).

SAP - bounce into resistance.

SE - like it

SHOP - 200 day bounce into the 21-day. Could tag that 55-day MA. Getting above that would be very productive into 74.

TSLA - earnings after the close. No Edge; has really sold into earnings. Pushing into 146; above that it could have a great bounce... but earnings .. so ... pffft.

VZ - needs back above 40.40

ZIM - pushing above 11.34 weekly;


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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.