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Samantha's RECORDED Live Trading Room - 4/22/24

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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

Options are skittish to begin the earnings week
QQQ 413.58 hourly PT tagged, not surprised to see a little bounce here but there is no energy
Advance decline having a bounce
Cumulative volume having a slight bounce but no energy
USD/Taiwan at a crucial juncture in the market
Sam thinks yields continue to move higher in the medium term
Bitcoin is bouncing into the underside
GLD + SLV rolled over as expected post hrly bollinger band squeeze.
Pushing copper + such lower with it.
It was expected, so now will wait for FCX to report tomorrow.
Likely all need to digest before moving higher.
SPOT below 271 next is 268.74 gapfill
SMCI struggling to get above 742, below 707 we see 660
META below 475 heading to 469, 453.... airpocket of risk to 400 nervous before earnings
BABA above 69.89 can have small bounce to 72,74
MU above 109 into 111.48
ARM still has a gapfill to 77.89 below 90
MNST short below 52.50
ELV holding breakout above 521
BIDU over 97 into 100,102
TSLA short PT to 126 potentially, but EPS Tuesday


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Michael's Trading Room Summary

APR 22, 2024 AM

Sam posted in Market Thoughts (in Slack) over the weekend; please take some time to review that.

MAG7 - Large expansion bar; below 10, 20, 50. Hit 100-day MA. GS PRIME shows 3-weeks of "net buying." UBS downgraded the MAG7 over the weekend.

Weighted Dollar / Yields Ratio - still under 310; crossed under 300 Friday but popped back above it to close above it Friday.

IWF:IWD - Large expansion bar; below 10, 20, 50, 100. Below 1.88. Closed at lows Friday. 200-day MA next lower level. On Support... so COULD SEE A SOLID BOUNCE

INTERMARKET

T2100 - trying to bounce; not going well.

T2104 - Still no panic

T2123 - Rolling over; weak but that roll-over stopped.

T2126 - bouncing. Could see a decent bounce. It's trying but does not seem committed.

WTI CRUDE - Below 82$ daily. Testing 81.00$ this morning. Looks weak daily. Pushing Lower.

GOLD (futures) - Dumping w/ Silver. Spied a squeeze Friday & Sam said it looked like it would pop lower. Cheers if you took that. Quick Digestion ... silver too.

Bit Coin - Still holding above 62k. Nice bounce but still under the 50-day. Bouncing - & so are the proxies.

FX

Dollar (DXY) - Sideways above 106;

USDJPY - No intervention yet; frustrating.

BONDS

TLT - gapped lower; still within the 3-day range. Holding above 88.00 daily but that is not offering much

TNX - Not above 4.688%

ZN (10Y) - still digesting; no bounce.

ZT (2Y) - still digesting; no bounce.

INDEX

SPX - Could bounce into 5131; 5004 is the level to get above; will see more buyers after that. Have to do it first & then we'll see. At the middle of the weekly bollinger band.

SPY - Soggy;

IWM - gapped up; inside day breakout failed but it's still holding the rally intraday; doji on the daily so far today.

BXM - great reversal weekly (lower) has taken this back into Weekly Kelts. Have a quite pause here so far this week.

QQQ - 413.58 daily / hourly PT tagged. 30-week MA lower level. Not a surprise to see a little bounce here. 10/21 weekly has not crossed yet. Could bounce into 423. Could see the underside of the daily TL but there is no energy. That bouce was from a hourly, daily & weekly support level.

VIX - Still no panic. Looks like it wants to break down but has not.

SVXY - 10-week resistance; has to get above that & thats a big ask.

CHASE

SPOT below 271 next is 268.74 gapfill

QQQ 416.57 is the pivot , having an oversold bounce

PDD over 118 possible gapfill to 121

NFLX stay above 552 for a chase above

SMCI struggling to get above 742, below 707 we see 660.

MU above 109 into 111.48

HONORABLE MENTIONS

ANF - 100-day MA is PT; It's going there.

AA - don't count this one out.

AMD - still working as a trend reversal; cont to hit every level lower. Breaking 141 weekly offers 50-week next PT lower (or break 144 for a move into the 200-day MA). Earnings 04.30.24. 10/21 weekly roll-over.

ARM - Still have 77.71 gap fill daily. 91.30 hourly turn.

AMZN - still in trend.

BIDU - Citron report turned this bullish. (off - they usually publish short reports). Like this for a chase long.

BABA - 68 weekly is next lower support; needs to hold. Breaking 68 offers 57 short. Looks good for a chase long.

CNX - careful. 23.68 weekly support. 21-day MA support.

CAH - still in distribution.

COST - breaking down

GLD - GOLD (futures) - Dumping w/ Silver. Spied a squeeze Friday & Sam said it looked like it would pop lower. Cheers if you took that. Looks like the 21-day MA may be the next lower target. Expecting a bounce; not looking for a bigger fail.

GOOGL - No Edge on earnings.

GE - bouncing on the 21-day MA.

INFA - dumping.

JNJ - solid distribution big picture; 100-month MA (low) - is a level to stay above (143). For a bounce - that is a great spot. Keep it above 148 hourly if you are trying to chase that minor bounce.

KWEB - China looks a little better; Looks decent today.

LLY - 672 PT short weekly. Broke the 55-day MA. 711.88 daily short PT.

META - No Edge on earnings. Still hanging in there. It's going to be an earnings move; one way or the other.

MSFT - No Edge on earnings. Sitting on 398 weekly support. 10/21 has not crossed under.

MNST - nice pattern for a reversal; better short under 52.50 weekly.

NVDA- Gaps lower WILL GET FILLED. Has move room lower (after a bounce).

NFLX - 552 is the level to get above for a chase bounce higher.

NVO - very strange. Little bitty selling... VKTX odd too.

PDD - holding the 50-week; don't short on the 200-day. Has to break under that first (& it is up-slopping so let that 200-day flatten out some too).

RIOT - oversold bounce;

SPOT - above the 55-day MA. Outside the Weekly Kelts high; has earnnigs on deck (tomorrow).

SLV - GOLD (futures) - Dumping w/ Silver. Spied a squeeze Friday & Sam said it looked like it would pop lower. Cheers if you took that. Looks like we could target the 21-day MA (lower). 24.50 weekly next lower PT. Likely see it supported at that 24.50 weekly.

TSLA - could bounce & then drop. No Edge on earnings. likely sells off into earnings. 146 weeky overshot; to be bullish we have to get back above that 146 level.

THC - 92.65 weekly acting as a minor support.

UNH - opening under the weekly TL.

VZ - earnings; TMUS & $T worth looking at.

WFC - still looks nice. (BAC looks tempting as well). Earnings are out of the way. These are "value plays" too.

WSM - really nice short setup; still outside the weekly kelts (high). (looks like SPOT).

XLK - tagged PT (gap fill); Under the 55-day but still above the 200-day MA.

XLU - looks better.

-- MAG 7 that Reports this week --

TSLA

META

MSFT

GOOGL


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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.