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#trading-room-summaries
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.
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Rithika's Chase Summary
Rithika chase summary notes
DXY could get defended here at 100.8; yet to see a macro trigger to send it higher
QQQ 475/476 still pivot; higher we have 481,484 lower we have 473,470,465
PDD pushing 100 next 97,93,90
IWM 222 tagging, bullish if above to 223.69,227
ROKU if over 71 can see 73,75 next stop: 68.11
SOFI over 7.58 can see 8 maybe 8.50
SMH coming back into 239
PTON against the 50 week now
ZM 72 sam thinks digests here
LLY breaks 938.38 then 918.50 if it weakens
PYPL above 72.5 next is 74
ELF stays below 158 we head down to 153, 150
RDFN needs to base around 11 to push to 13
FSLR if over 240 can see 242,245,247 next
BABA under 80.77 we have 77, 75 again
NEE stays above 79.80 we push to 82,84.20
Volume is still moving higher
Michael's Trading Room Summary
AUG 26, 2024 AM
Bonds are still bid - as is the Yen while gold continues to grind higher with a soggy dollar.
MAG7 - Fell into the 50-day MA Thursday ... stayed on it Friday... opening there again this morning. It's a combo line - has 50, 20, 10MA's all stacked there under the market. 120.64 still not taken out.
Weighted Dollar / Yields Ratio - nope; still not working
IWF:IWD - Broke back under 2.0 last week
INTERMARKET
T2100 - continued trend - all time highs. Extended so likely comes back in. Trend is "higher"
T2104 - Strong open for a Monday.
T2123 - Bullish. Just tagged the daily bollinger bands.
WTI CRUDE - strong pop on middle-east worries. Still have Sam's 79.11 level above as resistance Daily. Pushing higher... Still not a oil bull.
GOLD (futures) - 2525 popped this morning ... near the 2531 year's high ... very bullish still.
Nat Gas - sideways inside of Friday range. trying to stay above 2
Bit Coin - hit 65k and pulled back again - the 3'rd time.
FX
Dollar (DXY) - below 101 ... still have 100.50 level From Jan 2024 but below that we have 99.50 level from 2023. 100.20 is the level that needs to hold. Brought it down very strongly. The reflexive bounce in the dollar could be a headwind to equities. (soon - like 2 to 3 weeks). Still think oil is at risk of falling (big picture)
USDJPY - rejected 148 last week - fell under 144 this morning. Would have a lot of work to do - for a rise. 152 still a significant resistance level.
BONDS
TLT - rallied pre-market & popped outside of Friday's range. Still within last weeks range and has the looming 100.00 level overhead to deal with. That is still significant resistance.
TNX - fell back under 3.8% this morning. One of the 3 legs of the table. Trigger is that 3.8 level.
10/2 - steeping of sorts. Likely is short term.
INDEX
SPX - 5670 then 5750 ... "one more high for the year" still the base-line bet. Stay above 5639 daily. 5658.88 now the hourly overhead level to focus on.
SPY - pushing into 565 area.
IWM - Careful - has levels above to get through for a viable long. Small Caps pushing back into the fold. Poised at 222 resistance.
QQQ - 486.86 weekly resistance. 493 gap fill... we ARE going there. Not "if" - but "when" ... below 475 then we can go back to tag 465. Still have an over-head gap so we WILL hit that - that is still on the table.
CHASE
BABA under 80.77 we have 77, 75 again
CRWD - earnings this week. Well under the 200-day MA.
DXY could get defended here at 100.8; yet to see a macro trigger to send it higher
ELF stays below 158 we head down to 153, 150
FSLR if over 240 can see 242,245,247 next
GD - likely see new highs soon.
IWM 222 tagging, bullish if above to 223.69,227
KRE - pushing above 58.33 you'll see 59and some. (Sam said "48" but means 58.)
LLY breaks 938.38 then 918.50 if it weakens
NVDA - earnings this week. 136 channel is next .. likely to move there before earnings.
NEE- above the 79.78 weekly breakout point. could shake n bake on the daily but think it pushes higher. Looks good - very nice. NEE stays above 79.80 we push to 82,84.20
PDD 106.38 is monthly support if that pierces we have 97 next
PYPL above 72.5 next is 74
PTON against the 50 week now
QQQ 481 approaching next is 484,486 eventually 493 gapfill. QQQ 475/476 still pivot; higher we have 481,484 lower we have 473,470
ROKU if over 71 can see 73,75 next stop: 68.11
RDFN needs to base around 11 to push to 13
SPX heading towards 5658.88, 5669
SOFI over 7.58 can see 8 maybe 8.50
SMH coming back into 239
TSLA - 209 support in focus.
TECK - looks good for a breakout if it can hold the weekly 49.00 breakout. Needs to "prove it"
ZM 72 sam thinks digests here
HONORABLE MENTIONS
No Trust in the China Stocks - no surprise if they continue to grind sideways / fall more.
AA - still under the 10MA
APA - keep it above 28.00 daily. 31 weekly resistance. (if your bullish. use 31 as long PT).
AMZN - not a great open. Could see a cut of 10.00 this week if weekly support fails. Keep it below 176 for a short - you have 174 - then 172.28.
ELF - breaking the 50-week now. Break 153 again to open the bollinger ... break 153 & then 140 & 138.
ENPH - 128 / 140 range. Bullish above that range.
FSLR - a yields play. FSLR - a better option than SEDG. 241 weekly is the level to get/ stay above
GLD - doing very strong. Consolidation of higher moves. very bullish still. Fond of gold & silver on a trend timeframe.
GDX - still going strongly higher. GDX bullish on a swing timeframe.
JOE - keep an eye on this.
LLY - has done nothing wrong on the trend. If we break 918.50 daily we head down to 887 ... keep it below 966 if you wanna short it. 918, then 905, then 887.
MU - tapped back at the 10W.
MDT - looks great. 88.65 weekly. 200-week MA resistance over-head.
OPEN - working great.
OXY - long suffering trend play. Not going away.
PTON - smacked the 50-week MA. 4.81 likely where it hit's it's head.
PDD - overshoot into 106 possible. Earnings were poor.
RDFN - quickly went through resistance & now sitting there.
ROKU - on fire Friday. 71.30 daily resistance & 200-day MA - looks like that could be tested today in the hourly (tested 71 already this morning)
SLV - doing very strong. Consolidation of higher moves. above 27 hourly. productive for miners too (GDX).
SEDG - eh... FSLR - a better option than SEDG
SKY - warm summer housing market still in play.
SOFI - stay above 7.58 hourly if your bullish. Jumped above the 200-day MA. Stay above that. Looks better than APA.
SE - above the 200-week.
SMH - 239 PT. nervous about NVDA earnings.
SUPN - on the radar.
TSLA_ flat. Has a lot of work to digest. Typical
UBER - shy.
XLF - weekly breakout.
ZM - think it's done now. Should digest FOR SURE.
These three sectors are still in play & Sam loves them. Open them up to see their holdings - that's what is still doing well in markets.
XLP
XLV
XLU
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Samantha's RECORDED Live Trading Room - 8/23/24