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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
Semis hot fire flames helping push the market bullish
Ai theme is doing well along as well but semis remain the theme of the morning
QQQ 455.92 filled, and we pushed Into 459,461
SPX needs to hold above 5300 to remain bullish
VIX 12.80is weekly/ monthly support, if that doesnt hold then we are heading down into 10.80
Weakness underneath the surface still being seen, put hedges 2-3 months out still recommended
NVDA $1250 is a call for this week's lotto - small chase bet
after that digestion. after that I dunno.
NVDA + SMH will cause the Nasdaq to melt-up - also supported by falling 10Y + USD in SHORT TERM but then when VIX hits 10.60, I suspect strongly a reversal.
CRWD pushed below 329 into 323, 319; sam thinks we come down to 312.50 eventually
TSM above 158 breaking into 161 now pushing 163,165
NVDA sam says 1250 won’t surprise here before it stalls
ARM 132 target reaching, 135 next if it can get above
ASML needs above 1022.66 now to continue to 1050
META needs above 488 for 497 in a squeeze, needs to follow through so with caution; 484 pivot
NVAX 18.55 pt tagged and is overshooting potential area of congestion careful
ISRG on big breakout on wkly > 403.76. It was going to be our TOTW but options are thin.
Faves Long: ASML, TSM, META, NVDA, SMH for chases anyway
as BXM with QQQ breaks into new ATH
ISRG, HIMS, TTD continuation swing longs
BJ, TJX, LLY, FLR continuation trend longs
Michael's Trading Room Summary
JUNE 5, 2024 AM
MAG7 - still bullish; still at weekly highs & above all the MA's. Gapped up premarket completely outside of yesterdays range & is near ATH again this morning.
Weighted Dollar / Yields Ratio - Under 288 and testing the 280 level that Sam has mentioned many times over the last two weeks
IWF:IWD - MACD still above zero on the daily; still above the 20-day & 50day MA's.
WTI CRUDE - came close to tagging support;
GOLD (futures) - up again premarket but the range continues - starting to look like railroad tracks with 2360 highs and 2320 lows on daily.
Nat Gas - up in the premarket but still sideways. 2.85 daily resistance & 3.00 weekly resistance.
Bit Coin - up in the premarket; testing 71k. We've seen resistance at 72k on the weekly. Tried to break outside if yesterdays high but has fallen back in again.
FX
Dollar (DXY) - 104 daily support held after we tested it earlier in the week; 104.50 is hourly resistance. Continues to be weak on daily; not bullish. Weak; Rolling Over.
USDJPY - 155 daily support held; testing 156 premarket. Sideways on weekly; holding this wide range from 152 to 160. The JGB-10Y cut below 1.00% but rallied back up through it; still near that level this morning as we come into the RTH open.
BONDS
TLT - breakout above 92.50 daily; gapped completely above 92.00 after closing near 91.50$. Sam said she is short term bullish bonds. Bond Move clearly elevated.
TNX - 4.3% minor support; Sam still looking for 4.2% & then "we'll see..."
ZN (10Y) - breakout above resistance on daily; now we need to keep it.
ZT (2Y) - daily breakout continues - but this morning we are still inside yesterdays range.
10/2 spread - still looking at deeper inversion w/ a PT at -0.60%.
INDEX
NYSE - showed some buying the last two days when we broke under 17.9k; on the weekly we are still in trend w/ HH's and HL's.
SPX - Closed 5292 area yesterday - focus right now is on 5300 option level. 5400 is call wall.
SPY - gapped into 530.50 premarket. Still need nHOD for a long continuation.
IWM - gapped up premarket but still inside yesterdays price. Hourly 205 resistance
QQQ - gapped up premarket - 460.50 resistance; Needs to break into new highs for a cont long play. 455.92 tagged. Breaking 455.92 is a short. QQQ 455.92 gapfilled tagged, if we break below that again we are in a short
DIA below 386 back to 383
VIX - below 13.00 again daily after getting above 14.00 twice this week. Could still see 10.60$. Above the 200-day we could rocket like crazy.
BXM - moved sharply higher; if that continues then we have a potential "melt up" in markets. Needs to get & stay above 1867 daily.
CHASE
ARM 132 target reaching, 135 next if it can get above
ASML needs above 1022.66 now to continue to 1050
CRWD 329 pivot, above 338 for upside break to 350. CRWD below 329 we have 316, 305
DIA below 386 back to 383
ENPH needs above 132 for 135,140
META needs above 488 for 497 in a squeeze, needs to follow through so with caution. needs above 497 for chase to 510. Stay above 484.50. META below 484 we have 480
NFLX - above 639 we have 645,650 couldnt stay below
NVAX 18.55 pt tagged and is overshooting potential area of congestion careful
QQQ 455.92 gapfilled tagged, if we break below that again we are in a short
TSM follow through 161, above that 163,165
VIX 12.80is weekly/ monthly support, if that doesnt hold then we are heading down into 10.80
HONORABLE MENTIONS
Semiconductors are bid today.
AMD - no party.
AAPL - hit 195.96 weekly resistance. Let's see what happens up here.
ARM - hitting weekly kelter but it's productive.
ASML - boom, aggressive above 1005. Now needs to get & stay above 1222.
BTNX - looks like breakout is coming soon.
CCL - stay above 16.24 & you've got a shot.
CVNA - 97.70 daily - above is bullish / below is bearish.
CRWD - needs to break 329 hourly for shorts; Stay above that for longs. CRWD - nice short if it stays below 329. Sitting on 10/21 weekly. Could see 277 in time. It's an "IF THEN" ... minimum ... we get 312.38 would be current PT.
GH - thinner - smaller - solid green. like it above the 50week or above 27.00$ weekly.
EWZ - powerful roll-over.
ENPH - loves low rates - testing a breakout (or... ready for a breakout). Could hit 140 & get tapped back down ...
ISRG - fine; needs s lot more. Looks great. Breaking out.
LLY - doing well above 800. 840 area weekly resistance. Hourly - hit 845 and has fallen back below 830 hourly.
LULU - Don't see anything here but a broken stock.
MU - no party.
META - did not roll -over. Stay above 486 weekly. BB squeeze daily / hourly. So far it's a gap up & bullish on hourly but on the daily & weekly it needs to follow through. Stay above 484.50 daily / hourly. Clearly bullish.
NVDA - going higher this morning. Bullish.
NVAX - above 19.00$ hourly this morning. 18.55 weekly level has broken; not that we are above it we want to keep it. NVAX 18.55 pt tagged and is overshooting potential area of congestion careful. Still has 30% short interest.
NFLX - above 639 is bullish; below 626 is bearish.
SNOW - gone.
SMCI - it's trying. Stay above 794... or you can use 776 which is the 100-day MA.
STX - and WDC - doing ok.
TTD - a detailed write up in Slack - Looks good.
TMUS - awesome breakout weekly; solid continuation. 55-day MA bollinger band squeeze - amazing.
TSM - 161 daily is the next level to get / stay above. Nice breakout & follow-through.
TWST - nice price action (options are poor). Get above 50.50 weekly.
VKTX - 57.56 or the 100-day MA likely area for digesting.
WMT - TJX, BJ, and WMT all looking well.
ZS - nothing.
ZIM - 23.00$ is the next level to get above.
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Samantha's RECORDED Live Trading Room - 6/05/24