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Samantha's RECORDED Live Trading Room - 5/2/24

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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

Market had a pump and dump on Powell, not waiting apple earnings for further decision
USDJPY forming a bearish engulfing on the weekly, putting a strong bid in yen.
Long FXY as way to play until USDJPY tags 152 where it likely digests/bounces.
The advantage of falling USDJPY is actually potentially bullish stocks if it results in pushing back down our 10Y yield.
This is one way the BOJ/MOF intervention will help us get to that QQQ/SPX gap fill targets above: 445/5200
not a lot of energy in the market this morning
QQQ bullish only above 425.70, bearish below 423, chop inbetween
SPX bearish below 5019, bullish above 5080
DXY very choppy back under 106current channel from 105.5 to 106
CVNA sam still sees 135 in time, her 120 target about to hit
BABA stayed about 76 now heading to first target at 79.18 then 81
BIDU 110 target about to tag next 112
LLY breaks 767 we have lower levels at 750,742
JD 31 tagged, likely digests here first then 33
AMZN breaks above 183 we can go back to test 185,188, below 181 we have 177,174
TSLA sitting on the 55 day below 177 we push down to 173,168
QCOM needs to hold over 176.75 to push 183,188
DASH pushing down to 110,106
SBUX pushing to 69.69
PDD above 134 pushing 138
SMCI tagged 707 below that we have 667 on breakdown


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Michael's Trading Room Summary

MAY 2, 2024 AM

MAG7 - r2g premarket. tangled w/ 10, 20, & 50-day MAs. Reflexive Bounce weekly. Nothing bullish here & needs to get above the TL.

Weighted Dollar / Yields Ratio - 300 - 310; still in a channel. Sam still see's 350 this year.

IWF:IWD - Still under 1.90 daily. Closed at lows (LOD) yesterday.

WTI CRUDE - Under 80; 79.11 PT's been taken out. Cheers if you had it.

GOLD (futures) - green yesterday; closed near the HOD but has given most of that back this morning. Back below 2300

Nat Gas - still above 2.00 - but still chopping sideways.

Bit Coin - back over 58k; looks more like a reflexive move off the 56.5K lows and less like a bullish move higher.

FX

Dollar (DXY) - very choppy daily. Back under 106$. 105.50 to 106.50 is the channel. higher offers 107. popping higher.

USDJPY - back under 155 daily; talks of another intervention. BOJ-10Y "if 80 then 100" (1.00%). Large Bearish Engulfing weekly. Could see 152.

EURJPY - major reversal; that's bearish w/ PT 161.86

BONDS

TLT - rejected at 89 again; gapped lower outside of yesterdays range. Still chopping at the lows; still bearish. Still in a channel.

TNX - still under 4.688% key level; holding the highs on daily. Still has not broke down or broke out. Choppy.

ZN (10Y) - continues to slide lower

ZT (2Y) - continues to slide lower

INDEX

SPX - in the chop zone. bullish above 5080

QQQ - 429 gap fill PT hit; cheers if you had that. in the chop zone. Bullish above 425.70... bearish below 425.38 daily. (break 423 hourly for a short)

CHASE

AMZN breaks above 183 we can go back to test 185,188

BABA heading to first target at 79.18 then 81

CVNA sam still sees 135 in time, her 120 target about to hit

LLY breaks 767 we have lower levels at 750,742

DASH pushing down to 110,106

JD 31 tagged, likely digests here first

QQQ bullish only above 425.70, bearish below 423, chop in between

QCOM needs to hold over 176.75 to push 183,188

TSLA sitting on the 55 day below 177 we push down to 173,168

VLO heading down to 152.35 could push to 160 reject and go lower but is headed there

HONORABLE MENTIONS

Miners are digesting, utilities look great. China plays look great. Bit Coin plays don't look great.

AMZN - still bullish. Free cash flows are geared towards debt repayment; doing KPI's

AAPL - lower revenue for 4 consecutive earnings & the market is expecting this earnings to also have a lower revenue

ALB - productive. has room.

BTU - back to the 200-week.

BWA - looks good but at resistance. BWA - get above the 200-day MA & keep it.

BPMC - Earnings good; great breakout.

BABA - china plays are where it's at.

BKNG - looks weak.

COIN - think the whole space is at risk of rolling over.

CVNA - Hit PT's. Congrats if you had that. Still see 135 PT

CI - bearish engulfing; 340 PT.

DVA - Looks great. 141.50 weekly resistance.

DASH - still getting hammered with puts.

DB - just sitting there.

FXY - 59.90; above we could target 60.50

GLD - digesting but trend is still long.

GSK - like this; 43.50 weekly

GDX - still above the 10-week.

IIPR - still like it. got to target above 200-week.

JD - right into 31pt.

$K - productive. Likely digests here for a bit. It needs to get & stay above 60.

KO - get & stay above 63.00$

LFMD - nice "scoop" pattern on weekly.

LI - looking good.

LLY - NVO suggests price is dropping for their Wegovy, Ozempic drugs

LEVI - looks good. 22.40 weekly needs to break.

MRNA - getting flows; looks great.

NVO suggests price is dropping for their Wegovy, Ozempic drugs. Careful.

ORLY - violent move back to 995. Had been doing extremely well for a long time.

PBF - earnings.

PCAR - on support (weekly). Big breakdown below the 100-MA.

PRMW - a water play. Looks great. Water Utilities.

QCOM - "AI, AI, AI" - nice push above 176.75 weekly. Looks great. Running strongly. Stay above that level if you are long.

SMCI - nothing really here;

SHAK - looks good.

SLV - finally tagged the 23.90 PT this morning. Still digesting daily. Would not surprise to see the 55-day MA first before we go higher. Bouncing into resistance.

TSLA - Lot's of puts coming in; 168 PT. Watching for some call selling.

VLO - 152.35 short PT. It's going to hit that

WEN - ONLY IF IT GETS ABOVE 20.84

XME - still above the 55-day.


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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.