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Samantha's RECORDED Live Trading Room - 6/17/24

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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

From SAM- As I wrote/said last week, I STILL see SPX $5500 given intermarket and bullish option flow for AI Tech & MAG7.
TSLA even looks good for chase-to-swing as long as it stays > $177 wkly support. Better once it can get/stay > $186
NFLX looks to press higher as well on wkly breakout > 665.46 support.
Stuff that is strong is staying strong, as weakness begets weakness.
Careful, it can be very unnerving to see such a bifurcated market.
Next to fall hard could be GLD/SLV/GDX...TLT did tag and precisely pullback since tagging 50W - 10Y yield as that key 4.2%.
Mentioned last week:
ANET > 329 breakout is bullish into ATH
EBAY holding > 52 at 10W is also bullish
PLTR - very bullish > 23.64 wkly, $23.95 daily and 23.88 hrly.
HOOD more weakness into 20.20
ADBE below 518 we push down to 510,495
AAPL hold over 214 we have 216,218 again
CMG holds above 3278 we have 3350,3400
AVGO 1800 approaching
COST 850 tagged and overshot, softening
ADSK hold over 231.5 for 245
TSLA recovery to 181 needs above for 184.5, 191
NVDA 129.80 is the pivot if it holds likely continues up, short term weakness so far but lot of puts coming in with a gap down to 125
NFLX 670 tagged, if it holds above 665 next is 690 in time
SMCI hold over 834 for 886 again


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Michael's Trading Room Summary

JUNE 17, 2024 AM

MAG7 - nice expansion last week but stalled out within Wednesday's price range & has faded back to test the 3-day. Still bullish weekly but looks top heavy and tired. Shake n Bake - bullish. Strong Flows from Europe as they duck for cover.

Weighted Dollar / Yields Ratio - Still holding above 275; inverse of the S&P so breaking under that 275 would be greatly bullish but it is acting as a solid support level. Tested it 3x last week.

IWF:IWD - Moved 4.83% last week to the up-side; this morning it is paused at Friday's close. Blue Sky - Bullish weekly but extended.

INTERMARKET

T2104 - broke the 55-day MA. Still above the 21-week. "Net Selling" is gentle but it's there.

T2123 - nothing here still.

WTI CRUDE - tested 79.00 daily 3x last week & we are still under that level. 79.32 is last weeks high so 79.11 Sam's level of interest w/ last weeks high suggests if we get above that we could use it for support... but it's been a solid resistance and will be difficult. Sideways.

GOLD (futures) - 2340 resistance weekly still holding. The big move JUNE 7th still the candle range we are stuck within. Worried a little. The GOLD / SILVER ratio on Monthly looks great for Trend Longs... but giving a warning that it looks like a pullback is coming & it's not done.

Nat Gas - Down again - now firmly below 3.00 and we have crossed under 2.90 daily.

Bit Coin - Down more than 1.5% this morning but we are holding inside last weeks range; Look to test 65k for support (last weeks low).

FX

Dollar (DXY) - Above 105.50 premarket. Friday's high was 105.80 so that is a resistance in focus. (That is also last weeks high - so breaking through that resistance will be difficult but if we get above it then it should act as a support level of sorts. Strength in the Dollar.

USDJPY - Last week's high was also Fridays high (158.25) & we are inside that level this morning; look for a breakout for a continued drive higher but not seeing such flows this morning. Cont to get supported.... JGB - 10Y came back down.

EURJPY - Stuff in Europe is volatility.

BONDS

TLT - 94.84 Friday high proved to be resistance; price fell below 94 in the premarket this morning but holding above 93.50 minor support (for now). Went into the 50-week & has come back down.

TNX - 4.188 Friday low support held & we have popped up this morning above 4.25% in the premarket. Could be a reflexive bounce more than a rally. Tagged the 50-week EMA at 4.2% PT and got the bounce premarket.

ZN (10Y) - hit 111 resistance & faded back; down this morning but still above 110 daily support. Coming right back down to the TL.

ZT (2Y) - 102'11 resistance and Friday's high held... fading back this morning outside Friday's low. Coming right back down to the TL.

10/2 spread - still deepens the inversion.

INDEX

NYSE - Last week we saw a mini Double Bottom play out on the daily; back above the support but now need to keep it (around 17,800 area).

SPX - 5447.25 ALL TIME HIGHS ... made Wednesday. Left a large gap behind that needs to close. 5387.25 is last weeks mid-point; want to see price hold above that; OpEx this week - the likely case is "sideways into expiration" ... above 5340 is bullish (melt up) ... bearish below.

SPY - 544.12 Last weeks high & ALL TIME HIGHS ... 538.09 is last weeks mid-point; want to see price hold above that. Made a large gap up last week. Up in June 2.6%. Shake n Bake... so here we are.

IWM - Down 4.2% for June

QQQ - Up 5.4% for June. Still pushing up to 479; market is not done but has risk under the surface.

VIX - Does not look right. VIX below 13.09 comes down to 12.74

SVXY - holding below 60.76 daily offers a threat of weakness into the S&P (SPY / SPX).

CHASE

ADBE below 518 we push down to 510,495

AMD below 155 down to 153.49

AAPL hold over 214 we have 216,218 again

ADSK hold over 231.5 for 245

AVGO 1800 approaching

CMG holds above 3278 we have 3350,3400

COST 850 tagged and overshot, softening

HOOD more weakness into 20.20

META heading down into 499.35 support

NVDA 132 digesting then 135, 137. 129.80 is the pivot if it holds likely continues up, short term weakness so far but lot of puts coming in with a gap down to 125

NFLX 670 tagged, if it holds above 665 next is 690 in time

SMCI hold over 834 for 886 again

TSLA sideways needs above 181 to be bullish, below 173 for bearish action. TSLA recovery to 181 needs above for 184.5, 191. TSLA 184.5 tagged, next is 191, 199

SWING

GLD - looks like a threat to swing longs.

SLV - looks like a threat to swing longs.

TREND

CCJ - protect. It's a minor that has not corrected while uranium as a sector as corrected.

JBL - trying to get above 128; reports this week.

HONORABLE MENTIONS

Metals & Mining getting hit. Bit Coin Proxies getting hit.

ADBE - keep it below 518 if short.

ANET - holding above 329

ARM - digesting.

AMD - bearish under 157.70 hourly. 153.50 daily short PT.

ADSK - bullish engulfing last week (on weekly). Stay above 227.50 for longs. 240 PT. Getting & holding above the 200-day would be bullish.

AMZN - Looking for a breakout long play but has to get above 188 first.

BABA - stay above 68.00$. Looking for +75.00$.

CMG - Stay above 32.60

COST - just wow; still green.

CRSP - hit a wall of supply & came back down.

CCL - bullish options flows. Earnings this week (no edge with earnings).

CPNG - finally breaking & coming back to 19.78 weekly.

CELH - still falling; under the 200-day MA. Could be ready to bounce at 52.42 weekly...

EBAY - has to hold that 52.23

GM - back above 46.76.

GLW - still looks great; nice above the 10-Week.

HOOD - looks like it could have more weakness.

HIMS - really strong chart. Still above the 8-day. 26.64 PT. 8 day close or the 3-day close for a stop. 26.64 PT.

ISRG - bullish above weekly breakout.

META - at resistance; above 508 would be very bullish. 499 daily support.

MU - careful at the 3-day MA.

MREO - weekly scoop formation - needed to break above 3.35 & we got that. Had a 4.00 offering last week & it was absorbed nicely.

NVDA - 138 / 140 swag PT. PUT SELLERS coming in hard this morning to start the week

NFLX - bullish above weekly breakout.

ORCL - above the 3-day

PLTR - still has not triggered. Trying.

PYPL - get above 68 to go long.

RNA - large push higher weekly; Alex took 50% profits (check his channel for updates).

SLX - sold off into the 100-week.

SMCI - sitting above the 10W ... boring as it is just resting there.

STLD - needs to hold the landing.

TSLA - Daily Bollinger squeezing; Below 186 is bearish; Holding below 186 offers 180.50, then 177.35. Above 186 is bullish. Bounced on 177.35. Opening up really well this week. Getting strongly supported. Stay above 177 weekly for a good follow-through candle - that candle needs to get above 187 area

TEAM - just ewww.

UBER - needs to get above 73 to be safe.

XKTX - having a really tough time.

VRTX - just so good looking.

XLE - Supply Demand struggle; white house will attempt to keep price down at the pump.

XLF - sitting on support at 40.46 weekly.

XLU - at the 10W. Careful here.

XLP - digestion. Not rolling over.

XLV - digestion. Not rolling over.


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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.