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Samantha's RECORDED Live Trading Room - 3/06/24

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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

QQQ bounced off the 21D as expected.
Now, above 441 = hrly gap fill at 443.77; if breaks below 439 again, press short into 433.71, 430 overshoot.
Bonds continue higher on 10Y rolling over as expected at 4.36% into 4.1%.
TLT target of 96.33 still in play.
USD pulling back from 104.20 as expected: Oil is rising on bullish EIA but Gold is rising in lockstep with USDJPY weakness.
Silver was the Chase du jour as I said it has a lovely intraday scoop pattern for higher. Looks good as swing as well.

Powell's testimony is expected to be dovish, so not expecting drama.
Unless VIX can get above 14.49, there wont be drama.

USDJPY is falling which is pushing down USD + 10Y. Looks headed to 148.50 where it likely bounces.

Best fade/chase short intraday was CRWD! Basically an over-reaction to earnings, set up great as short below 365 with 346 then 329 PTs.

Continuation Plays:
GLD broke above our 194 target, pushed towards 196.199 next is towards 199.7
SLV pushing towards 22.5, and in time 23.87
TGT pushing into 176,177.29 above 172.7
DLTR above 150 next is 153
BABA productive over 73 into 79, however if it breaks 68 will drop 10 points
PLTR approaching 27,then 28.29 above 25.20
BMY pushing with PT of 53.48 - if can get above 54.81.
TSLA under 177 pushed to 174.30 PT, now likely digests this down move.
TMO above 593 we have 600,616
VLO above 147 we have 152.20
AMD 208 pivot for bullish/bearish


Share Macro-to-Micro by Samantha LaDuc

Michael's Trading Room Summary

MAR 6, 2024 AM

Not expecting a Hawkish Powell. Bounce Resumes.

MAG7 - gapped up premarket back above the 20-day MA. Still under the 10MA daily

IWF:IWD - fell to the 50-day MA. Under the 10 & 20-MA. Bounced strongly but looking to see if we resume the fall lower or not.

Intermarket

T2104 - itty - bitty little buying this morning.

WTI Crude - cont to move higher.

GOLD (futures) - still important to follow. The gold miners bullish percent index is just starting to get back above. Still a Trend Long

Nat Gas - still don't trust it.

FX

Dollar (DXY) - cont to roll over.

USDJPY - still falling away from resistance & rolling over. Pulling bonds - gold & yen higher. No drama - and not allowed to go up. A minor BB squeeze... likely see a few more days of this. Could see daily 148.50 (near the 55-day MA) get tagged & then we get support there.

Bonds

TLT - 96.33 overshoot PT

TNX - yields cont to fall. Coming back likely to 4%.

ZN (10Y) - back into resistance. Short the rip

ZT (2Y) - back into resistance. Short the rip

10Y/2Y spread - still looking for -0.60%

Index

SPY - 505 PT tagged

IWM - still hiding a lot of strength. Kool.

QQQ - Bounced on 21-day. Hourly perfect gap down 433.71 PT. 443.77 hourly long run PT.

VIX - pushed above 14.73 yesterday but came back down. Could see 15.21 this week but hard to see it hold there or even get into the 16.00 area.

SVXY - 110 hourly should prove to be a ceiling w/ the QQQ coming into 441 hourly.

BXM - more calls bought than sold - so we are still in play.

Chase

BABA productive over 73 into 79, however if it breaks 68 will drop 10 points

DLTR above 150 next is 153

GLD pushing towards 199.3, 199.7 next

PLTR approaching 27,then 28.29 above 25.20

SLV pushing towards 22.5, and in time 23.87

TGT pushing into 176,177.29 above 172.7

TSLA pushing 177.35 below 173;

TMO above 593 we have 600, 616

Trend

If you are looking for "value" then take a look at the Trend Open list. This is Sam's version of "Value" plays. Can see this on the website.

Honorable Mentions

AMD - 208.80 - bullish above & bearish below.

AAPL - still looking nasty. Only bounced high enough to gain momentum on the fall lower. Once it does get supported - there are a lot of gaps above to fill... eventually. Still in a downtrend.

BMY - 53.48 weekly has to get taken out. Made it back above the 55-day.

BJ - think this is next (COST, TGT, WMT).

BABA- this has done well. Looking like the next move could be higher. 68 weekly is the support. (could fall 10.00 if that breaks).

COST - amazing.

CPNG - the "amazon" of South Korea looking good.

COIN - stay below 232 weekly. Weak below 229 daily. 206.39 hourly gap fill PT.

CRWD - digesting the earnings beat. Short below 365. Needs to break 346 to cont.

DG - may be a more difficult long.

DLTR - doing nicely. 150 weekly resistance. 153 next level of resist.

EBAY - doing really well.

GLD - still a trend long. Nothing bearish on this chart. 200, 209 then 220 monthly in time. Has to get above 200 first. Weekly gap up - very bullish.

GOOGL - digesting the PT.

IQV - looks great.

JMIA - looking good.

JD - crushed it in earnings. Now above 24$ daily. These are violent. This needs an "event" to get out of the protracted down-trend. Like Like Like. Can it stay above 24.00 daily is the question. (Needs to get above the 10-week too).

JWN - back to 19 weekly support. Looking to see it get defended.

HBI - get above 5.60 to cont.

LU - needs to close above 2.80 weekly. Watching for a "little life" here.

MS - not looking good. Bearish Candle.

MSTR - 1315 weekly resistance holding. 1080 daily is the next level to break for a short into 890

MLM - looks very extended. Very impressive. (BLDR - slower but great and VMC as well).

MSFT - anything below 409 is a great short. Likely bounce at 55-day (396) and digest.

PLTR - nice push higher. 26.10 hourly resistance.

PFE - "if the BB acts as support & it gets back into the Kelts ... and IF is the key. Needs to get above the 21-day MA. Hourly looks bullish (so far). 26.50 hourly gap filled. 26.53 is the "must stay above" level.

SLV - still needs to get going. Weekly 21.50 taken out. (has to keep it). 21.92 hourly was taken out. Needs to get / stay above 23 for a cont move higher.

TGT - Keep it above 162.38 to cont long. "great above" that level. 181.50 weekly is next level to focus on.

TSLA - cont short.

TMO - keep it above 570 daily breakout. Roll up the stop to 580. Getting / staying above 593 - will like it a lot more.

TGTX - hold your nose until we get an event.

TSM - 142.20 weekly next level of resistance - almost into blue skys. Still looking very bullish.

WMT - amazing.

XBI - still bullish. Digesting far from the mean. Still bullish.

XME - starting to prove a "scooping" pattern on weekly. Needs to close above 56 and needs to take out the weekly 59 resistance.


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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.