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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 looking extremely dangerously with vix above 17 and yields pushing
QQQ breaks 439.5 we come back down to 434.5
SPX coming down to 5122,5111
VIX tagged 18.70 which was a wkly PT so below is market bounce area BUT BUT BUT weekend risk is large and as I have been posting: I DO NOT LIKE EQUITIES OR BONDS HERE big picture. Lots of chasing in both directions, but TAKE CARE of positions - both swing & trend.
SLV 27.17 monthly tagging next is 27.98,29
Breadth overshot but looks to be coming back in with a bearish engulfing on the weekly
USDJPY digesting the 153 level
Oil pushing into 88.85Gs below 393 comes down to 390,385
CPNG 21 weekly level tagged, after some digestion next 24.72 possible if we break above
GDX pushing into 35.81
Sam still thinks we go to 823 on nvda
SMCI 886 then 860
ANF 113 approaching next is 110
COIN needs below 249 for break to 240,236
MSTR below 1500 back to 1384
Michael's Trading Room Summary
APR 12, 2024 AM
MAG7 - Breakout above the daily TL into blue sky. Fell this morning (premarket) back into the range.
Weighted Dollar / Yields Ratio - Strong rejection at 300; tagged 295 this morning in premarket
IWF:IWD - Big move yesterday; TL breakout & closed at the highs of day above 1.92 area.
INTERMARKET
T2104 - Likely rolls over; Sideways daily. Paused on Weekly. Not Broken weekly.
T2123 - very extended; has not broken weekly. Light fade on daily.
T2126 - starting to break down weekly. Under the 55-day MA. Gapped lower this morning.
WTI CRUDE - pushing back towards 88 daily again.
GOLD (futures) - 2400 new highs; large expansion bar.
Nat Gas - still under 2.00$.
Bit Coin - developing a daily wedge; still under 72k.
FX
Dollar (DXY) - spiked above 106 daily.
USDJPY - pulled back under 153; still holding the highs; still bullish. Still a threat of intervention.
BONDS
TLT - little bounce. looks fragile.
TNX - anything above 4.33% is bullish; resistance at 4.68%. Hard to be bullish equities until this gets back below 4.33%.
ZN (10Y) - tagged lower TL daily; has to get back above 109 area.
ZT (2Y) - tagged lower TL daily;
INDEX
SPX - don't see us breaking higher without intervention. Break 5140. If VIX gets sold we'll get a reflexive bounce but .. it's Friday. Can easily see 5122. SPX coming down to 5136,5111
SPY - don't see us breaking higher without intervention.
IRX - looks like it wants to move higher (not lower). Still bullish.
DIA - already rolled over
QQQ - don't see us breaking higher without intervention. QQQ breaks 439.5 we come back down to 434.5
VIX - above 16 is market bearish; below is market bullish. the 17 strike calls for APR were a good call-out. vix above 17.3 next is 18.70,20
VVIX - if 80 then 100 type of play.
SVXY - Weekly Evening Star reversal; rolling over & getting weaker but has not broken down. Needs to break 53 weekly for a cont move lower.
CHASE
ANF 113 approaching next is 110
DXY broke above 105.3 catching fire into 106 causing market weakness alongside yields
CPNG 21 tagged, after some digestion next is 24.72
GS - below 393 comes down to 390,385
Oil pushing into 88.85
GDX pushing into 35.81
MAG 7 still holding firm, but doesn't make them great longs at this stage
NVDA - Sam still thinks we go to 823 on nvda
QQQ breaks 439.5 we come back down to 434.5
SLV 27 tagging next is 27.98
SMCI 886 then 860
SPX coming down to 5136, 5111
VIX above 17.3 next is 18.70,20
HONORABLE MENTIONS
GOLD, SILVER, MINERS, COMMODITIES, OIL moving higher. Semi's clearly getting hit (AMD, INTC).
AAPL - back above the 55-day; pushing through the daily bollinger high. Right into Daily resistance; Likely digests a little bit here. If it can get above 177 weekly solidly - then it could move higher a little bit.
AMD - short into 157 PT, then 151 area.
BLK - under 788 is not good.
BABA - back down;
CPNG - Keep it long above 19.78 weekly.
$C sideways.
COIN - has not rolled over; really great breakdown but no trust. Soft yields likely helping. Wait for a break of 249 TL lower.
CROX - all the way back to the 10-week
GOOGL - don't short new highs.
GIS - rolling over; bull trap. hitting the 200-day MA & 55-day MA. (down slopping 200-day)
GS - 420.73 weekly resistance. 389 weekly support needs to break for a good 20.00 short. Start with 380 as first PT.
HYG - down into the 21MA. Getting pressured.
EWG - rolling over
EWJ - likely see distribution.
FXI - all china - also weak.
INTC - pushing weekly bollinger wider; broke the 200-day MA. it's a mess.
JPM - likely bounces at the 55-day MA. On the weekly Keltner Channel. Has to break that and get inside for a cont short. Tagged 185;
MS - kinda done right now.
MDWD - Still doing well; hit the 200-week & is coming back. Getting defended; looks good.
NVDA - 823 PT still.
TECK - bullish; in the right space; this is fine.
WFC - 55 / 58 for bull / bear.
XLF - likely bounces at the 55-day MA. On the weekly Keltner Channel. Has to break that and get inside for a cont short.
XLV - they are not hiding out in these; firmly rolled over.
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Samantha's RECORDED Live Trading Room - 4/12/24