Samantha's RECORDED Live Trading Room - 7/09/24

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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.

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Rithika's Chase Summary

FROM SAM -
Short Summary Today.
Concentration Risk continues & I'm growing more RISK AWARE as we get closer to a macro-moving event that can and will trigger an air pocket of risk.
Again, AI TECH ECOSYSTEM is still in play, led by NVDA, TSLA as the heavy call buying called out 1st thing Monday morning.
"TSLA is hell-bent on $265."
We are there. Etc.
QQQ $500 call wall achieved ahead of CPI tomorrow. Once we digest and get above we can push higher into 504/507 PT area about same time my MAG7 ratio should hit 131.67 PT. ;-)
Bullish swing longs recently rec'd still haven't triggered but are close: UBER & MRVL
Bearish chase/swing shorts recently rec'd have worked this week: NOW, DPZ, CMG, WING
Backdrop is still bullish and yet... $230M in put spreads hit the tape Friday for mid-Aug/Sept timeframe. Someone is getting nervous before bank earnings kick off Friday pre-market.
GLW is hot fire flames continuation swing long.
VRNA is recent swing long idea I like similar to RNA when it was 15.VLO + XLE finally both tagged their 200D which was my PT from many moons ago.
Software bounces are hard faded in SNOW, MDB, ZS, OKTA, CRM, DDOG on AI estimates getting downgraded by likes of Goldman & Barclays:
https://x.com/SamanthaLaDuc/status/1810475609715355684
I reviewed my MOST BEARISH chart and what I think it means - RSP:SPY - so keep that in the back of your mind as you chase this rally…

X (formerly Twitter)

Samantha LaDuc (@SamanthaLaDuc) on X

There are a lot of reasons to believe Generative AI will disappoint…https://t.co/avlflN9HRF $NYFANG #MAG7

Rithika chase summary notes:
GLW 44 tagged!
OLED continuing its chase momentum
NVDA 132 tagged, 135 and 138 next above 128 pivot
UBER needs >73 to push
NVO below 140 back to 137,135
JMIA 10.48 is resistance if it gets short squeezed, 11.80 is next
TSLA above 256 next is 265
AMD 180 tagged, digesting pivot 174 above can push to 183,185
RIVN pushes over the 200 day can continue to 16.5, 18
CMG 59.20 tagged next on its way to 56
WING below 409 into 400, 390 stop: 418
DPZ below 485 into 469.25

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Michael's Trading Room Summary

JULY 9, 2024 AM

Powell on the hill today & tomorrow.

MAG7 - Still bullish; still above all the daily / weekly MA's - over extended but not yet stalled out. Continues to make new highs.

Weighted Dollar / Yields Ratio - Still above 275 - still under 288. Sideways again today.

IWF:IWD - Still bullish; still above all the daily / weekly MA's - over extended but not yet stalled out. Continues to make new highs.

INTERMARKET

T2100 - weak

T2104 - sharp move higher .. but a small sharp move.

T2123 - cont to fall over. It's all about AI. Not there yet.

T2126 - has not gone anywhere.

WTI CRUDE - broke under 82 daily; third day of fading. 84.50 daily resistance held strong. pulled back a little bit.

GOLD (futures) - large pop was unwound; back near 2350 area. Still sideways in a channel (2450 / 2300).

Nat Gas - large gap down reversal continues today - with a breakout above yesterdays high. Still inside last weeks range.

Bit Coin - was up near 2% but has faded some before the open. Still up near 1% after catching a minor support at 54k weekly (or 53.5K daily).

FX

Dollar (DXY) - broke above yesterdays high; still holding near 105 area. Still near last weeks lows. Hanging out around the 105 area.

USDJPY - 160.50 daily reversal held. Testing yesterdays high this morning. Barely above 161.00$. JGB-10Y down this morning - but still above 1.00%.

BONDS

TLT -rejected 93 daily and faded below yesterdays low

TNX -back above 4.3%

ZN (10Y) - resistance holds daily; range is in tact.

ZT (2Y) - resistance holds daily; range is in tact.

INDEX

NYSE - Closed last week near the weeks highs - so far this week we have held that area without giving any back but also without a breakout higher. Lot's of resistance at last weeks highs (around 18120 area)

SPX - closed Doji yesterday after hitting 5583.11 (new highs). 5575 is a gap that needs to fill at some point.

SPY - 556 premarket.

IWM - 499 premarket

QQQ - Still see 507 PT.

VIX - higher than the close of yesterday - but Doji right now on the day.

SVXY - gapped up to test yestedays high & fell from there - still inside yesterday range. Weekly still at highs - still bullish - still above last weeks close.

BXM - bullish.

CHASE

CMG 59.20 tagged next on its way to 56

DPZ below 485 into 469.25

JMIA 10.48 is resistance if it gets short squeezed, 11.80 is next

NVDA 132 tagged, 135 and 138 next above 128 pivot

NVO below 140 back to 137,135

RIVN pushes over the 200 day can continue to 16.5, 18

TSLA above 256 next is 265

UBER needs >73 to push

WING below 409 into 400, 390 stop: 418

HONORABLE MENTIONS

ABNA - Q2 is strongest seasonally ... above the 55-day & 200-day. A good chase product into earnings. Needs to get above 155.84 daily. Options are "fine" - not great - but "fine"

ANF - has not broken 173 (yet)

AMD - 174 weekly breakout level

AMAT - just great

ASML - great! breakout into new high on year.

BABA - 70.00$ & let's see

CMG - bearish; shake n bake continuation. Nice looking short. has not confirmed yet.

COIN - setting up for a roll-over.

DPZ - breaking 508 weekly was great; stay below that level. Getting under the 10W will help.

GLD - has not come back down

INTC - profit taking right now - break 35.40 to head into 33.84. Bull Trap triggered.

MU - trigger is 135.26

MRVL - has already filled gap. Needs to clear 75.38 daily to keep going. Still looks good; stay above 74 hourly or 72 ... or if you want a lot of room - stay above 70.00

NVDA - saw a lot of calls hitting the tape at the open yesterday

NOW - had a bounce - now it gets trounced. Looking for the 55-day MA and then down to the 200-day. Looks like a great short.

PLTR - government contracts; nice follow-through so far.

PDD - digesting at 100MA - still have 200-day as PT. from 128 to 127 as trade play.

SNAP - if it hits 17.00 would be bullish.

SLV - has not come back down

SNOW - back to it's old tricks.

SMCI - 927 was the PT yesterday. Hanging out here now.

TSLA - saw a lot of calls hitting the tape at the open yesterday. 248 is the new level w/ 256 and then 265 & that is not hard.

UBER - bullish here. Has not triggered - but it looks nice.

VRNA - get above 18.47 weekly. Had some volume on JUNE 27 of size. Like it alot

VLO - hit the short PT's one by one ... back to the 200-day now. Poetry in action.

XLE - short into the 200-day was perfect; likely digest here.

Restaurants

WING - like as a short. 390 & then we'll see. just started - nothing yet.

DPZ - like as a short. 485 next

CMG - like it as a short. 60.50 is key.

SOFTWARE

NOW - like as a short

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