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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
Market backdrop today is reflexive bounces
Shipping plays are hot , Growth/value still in play
Airlines and transportation remain weak
Spx bounced into resistance 5292 needs above to be bullish below we have happily again back to 5269
QQQ bouncing on a $DXY rejection bouncing into 457, above that we have 460
TLT lets if we can close above 91.5/92 to see if we can get follow through
Nvda hold over 1045 we have 1060,1085 next
CROX sympathy working well into 148,151
WDAY nice short form open now heading into support at 226
TTD still fine trend wise above 95 we push into 100 again
IP Sam had spotted October 42.50/50 call spread looks like they’re playing out today on acquisition speculation
Let DECK digest if it stays above 956 becomes very bullish
CRM looks like strong swing short continuation once gets/stays < 269
ONON above 38.62 for a move into 40.80
CRWD pushing nicely higher into 354.60 Hr PT; for swing long needs to stay > 338.45 wkly support.
ISRG pushing above wkly resistance of 403.75 is also nice
Michael's Trading Room Summary
MAY 24, 2024 AM
IWF:IWD - pushing higher (because of NVDA).
WTI CRUDE - flat. 75.65 short pt.
GOLD (futures) - dumped the TL & is now under the TL.
Nat Gas - weak.
Bit Coin - stay above 65k. softening. Have not broken.
FX
Dollar (DXY) - not doing too much. softer; looking at a lower TL for a possible bounce there (hourly).
USDJPY - JGB - above 1% now.
BONDS
MOVE Index - softening.
TLT - Looking to see how we close this week; expecting a move higher next week.
TNX - don't have 4.2% yet. Looking for a (softening or a) pullback next week.
ZN (10Y) - holding yesterdays lows
ZT (2Y) - holding yesterdays lows
10/2 spread - inverting. looking to fill -0.60% target.
INDEX
SPX - big dump. Bounced into 5292. SPX bounced into resistance 5292 needs above to be bullish below we have happily again back to 5269
SPY - big dump. SPY having a bounce off the 3 day , above 528 we have channel to 531
IWM - strength here especially after the 10 & 2Y.
QQQ - big dump.
VIX - still holding above 12.00$ after yesterdays pop.
SVXY - bounced right back up again from yesterdays selling.
CHASE
CROX sympathy play working well
CRM - 269 is support. We break 269 we head down to 262
DECK - Let DECK digest if it stays above 956 becomes very bullish
IP Sam had spotted October 42.50/50 call spread looks like they’re playing out today on acquisition speculation
NVDA - hold over 1045 we have 1060,1085 next
QQQ bouncing on a DXY rejection bouncing into 457, above that we have 460
SPY having a bounce off the 3 day , above 528 we have channel to 531. below 527 we have 525
TLT lets if we can close above 91.5/92 to see if we can get follow through
TTD still fine trend wise above 95 we push into 100 again
WDAY nice short form open now heading into support at 226
HONORABLE MENTIONS
AMAT - stay above 215.
AMZN - pulled back from 188 weekly resistance perfectly. has a look of weakness. 175 PT weekly or 172 PT daily.
BAH - nice breakout; hitting the weekly bollinger bands.
CADL - broke 11.40 daily level; 7.08 weekly short PT.
CGEN - Above the 200-day. Looks productive. Will be a while.
CRM - bearish. 269 daily support.
CMRE - awesome moves weekly. Very bid.
CRWD - looks good. if we open above 351 next week we could see a nice move into 365.
CLCO - Stay above 13.05 weekly.
CROX - looks like maybe.
$C - worried about finance space. Has not done anything wrong. 61.67 weekly is (3) levels of support. Still looks good. Inverted Yield Curve makes Sam nervous w/ banks. Constructive. Going to chop about here.
DECK - keep it above 999
DELL - stunning.
DAC - great chart.
ELF - 182.73 weekly breakout. That is bullish; 196.36 weekly resistance.
FOUR - not interested. chopping at the 200-day MA.
FSLR - freak of nature. No Reversal
GE - still in trend. Nothing wrong with this chart.
GH - back above 200-day MA. 25.50 daily breakout level. Has a lot of work to do
GOLD MINERS BULLISH % INDEX - Looks good.
GLD - pulled back as warned. not over. Break 215.74 we'll have more weakness. Doesn't look done.
HIMS - get & stay above 16.74 hourly. Above that - 17.16 PT.
HD - below the 200-day; not happy about that. (LOW also).
INTU - weekly rejection at resistance (671). Big Bearish Engulfing. 599 weekly support; likely bounces into 631 before falling back down to 582. The 200-day is coming into view.
ILMN - lawsuit & arbitrage; no opportunity here.
KEX - wow;
LPG - a great long (or a trend idea).
MATX - 123 weekly resistance. ATH - soon.
NVDA - hit 1025 PT.
NVAX - short covering play.
PAGS - thin options.
PDD - looks good for a cont higher. Strong Call buying came in yesterday.
QCOM - great; the best way to play NVDA;
RL - above 171 we have 174.50 weekly.
ROST - BEAT. gapped up; above 55 day & 200-day MA. Earnings this morning. Good above 139 daily (sitting at 142.80 hourly). Doesn't look bad.
SLV - pulled back as warned. not over. 27.17 daily short PT.
SBLK - not excited about it. Benefiting from higher shipping rates. Above 25.00$ weekly it's bid. Productive.
STNG - nice breakout weekly.
TAN - is up.
TSM - watch this for a "tell" - nothing right now.
UNG - short the pop
VRT - HOT
VST - HOT.
VKTX - stay above 60.00
WMT - congrats.
WMB - looks like a great continuation play but will be a slow change.
WDAY - under the 55-day & the 200-day MA. Fell hard after earnings. Has now hit the 100-week. 226 short pt.
XME - still in a pullback.
XLU - extended. Has not broken trend
XLP - boring; Has not broken trend
XLV - boring. Has not broken trend
XLE - Under 92 hourly; 92.22 daily. Under the 55-day.
ZIM - 100-week PT hit. starting to digest on the hourly now. Very bullish still; likely digests that 100-week for a bit.
BIRD FLU PLAYS
MRNA -
CVAC - 4.46 & WE'LL SEE
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Samantha's RECORDED Live Trading Room - 5/24/24