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Samantha's RECORDED Live Trading Room - 3/20/24

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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 bears watching USDJPY 152 level while we chop anticipating Powell
Cannot short market while SVXY is green
Sam thinks DXY and Yields reject after the Powell press conference
VIX getting tighter
Bitcoin weak below 65K into 55K
If yields pull back, then small caps are a good bet for a bounce
PDD below 143 we pushed into 138 then 133 next we have 128.50 as gapfill target
LU above 2.85 pushed into 3.39 next is 3.75
ANF needs to break 128 to move lower
DKNG above 45.30 to push higher into 47.78,48.50
CGC above 3.85 we are pushing into $5 target
GM above 41 pushing into 43,45
CVNA 86 key level to break above for 100, over 76 is fine in trend
GPS heading to 26.34
IP heading to 41.89 in time but right now 40.24 was solid resistance
MSOS is buy on pullback
ROKU has a big bollinger band squeeze on daily that will create a big move, but unsure of direction.
VKTX is bullish > 68 on move to 77


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Michael's Trading Room Summary

MAR 20, 2024 AM

MAG7 - continues to test the highs - without breakout; chopping at the highs. Still above the 10 & 20-day MA's.

Weighted Dollar / Yields Ratio - Still holding above 275 but under 280 & that is our mini channel on the daily that needs to resolve.

IWF:IWD - crossed under the 50-day MA but rallied to close above it. Testing the 20-day MA from below. Still under 1.92 daily. Sam said yesterday: "Still expecting a roll over after hitting the under-side of the TL. A MACD Cross above zero would be bullish growth." and we would anticipate the continued "crash up" in markets.

Intermarket

T2104 - Still hot.

T2123 - Still hot. Amazing.

T2126 - chopping on weekly.

WTI Crude - 83.00$ daily resistance held. Pulled back under 82.00$. Getting tapped down below 83 - above 83 would be drama. Energy has been a great rotation.

GOLD (futures) - Does not look weak. Holding extremely well. 2147 daily support. Still looks very nice.

Nat Gas - 2.00 continues to be resistance; 1.76 daily acting as a minor support.

Bit Coin - 55k sill PT.

FX

Dollar (DXY) - testing 104 again this morning. 104.20 PT & resistance. Still the "BASE CASE" that the dollar is falling. A fed cut is "very bearish" the dollar. Likely hits that PT & See's some pressure.

USDJPY - 151.78 daily in focus. Yen Carry Trades .. about 4 trillion needs to be unwound. Pushing into 152 Oct intervention level. 152 bears watching.

Bonds

TLT - small gap up this morning; still holding around the 93 daily.

TNX - holding below 4.30 daily. a pullback in yields should offer small caps a bid up.

ZN (10Y) - Closed the gap that Sam spoke about last week. Holding around that gap fill now for the second day. Bond Short into Gap Fill working so far.

ZT (2Y) - has not quite closed the gap - but tried. Holding near 102'04 area. Still expecting that gap to get filled. Bond Short into Gap Fill working so far.

Index

SPX - Above 5189 then 5200 call wall. 5320 yearly PT

QQQ - 431 gap fill. 472 yearly PT

SVXY - Still Green.

Chase

AMD puts below 181 target 178,176 stop: 182

ANF needs to break 128 to move lower

BABA hold above 74 for 75.76,78 stop: 73

CGC - approaching the 5.00$ target

CVNA 86 key level to break above, over 76 is fine in trend

DIS above 115 we have 117.5,119.48 stop: 113

DKNG above 45.30 to push higher

GPS heading to 26.34

IP heading to 41.89

LU above 3.39 next is 3.75

PDD breaks 138 we see 135, 133 / PDD below 133 we have 128.50

Swing

IP - 38.21 weekly breakout needs to hold; popped on news of a new CEO. Value doing well. Posted in Swing. Has to get above 42 weekly to keep going. Like the 41.89 weekly for PT and resistance. Could chop about here a while. Looks like hourly 38 gets supported here.

Honorable Mentions

AMAT - weekly 206.77 resistance.

ANNX - Needs to break 6.67 weekly for a cont move higher.

Precious Metals are bullish (big picture) & Dollar is bearish (big picture)

AAP - moving up on activism

ANF - looking for the roll-over right here & now. Stay below 131.37 weekly. Could wait for it to break 128 hourly

AMD holding above 55-day MA. 177 hourly support. Sitting on 10-week. Likely tags that 174 PT.

BABA - 74 hourly is take-off... a "long play" above that.

BA - 177.52 weekly support tagged. Hourly 182 PT hit this morning.

$C - looks amazing.

CDLX - looks good.

CPRT - doing really well.

CMG - 50 to 1 stock split popped the stock

CAG - wants the down-slopping 200day MA.

DKNG - 45.30 daily needs to break; 44.79 monthly resistance. Only bullish if it can get above that on a weekly close.

DIS - proxy fight. Above 113 weekly is bullish.

EQIX - coming into 20--day MA (around 800 area).

GIS - Above the down-sloping 200-day MA. Daily 70.00$ resistance. 50-week MA resistance & 100 Weekly MA resistance. Tagged 74 weekly & came back in.

GM - looks good. 41 weekly breakout - looks good for more. Keep it above 38 or if you want tighter - then use 41.

GPS - nice. coming in firmly. Very bullish above 24.80 weekly. Weekly 26.34 still looks bullish.

GES - earnings after the close - a retail name. Has a lot of shorts.

HSY - down slopping 200MA resistance but popped up.

HOG - impressed. More bullish than it's been in a while.

INTC - no interest in this.

JWN - a "take private" bounce.

LU - 10/21 week cross coming. 3.31 would be the level to get above weekly or 3.39 daily would be the level to get above. Down-slopping 200-day MA. Should "get to" that 200-day MA. Will take weeks (or months) to form a base.

MSFT, AMZN, GOOGL looks great.

META - back above 504 would be bullish again.

PDD - getting opened to U.S. sellers. Short hourly - keep it going under 151.25 hourly. Coming into 138 hourly PT makes sense. Short to 138 & we are almost there. Breaking 138 offers 133.

PYPL - looks like it wants to move higher. Been basing around that 200-day and is above it again. It's flattening out - ... looks great.

PDD - Called Short to 138 & that worked ... Breaking 138 offers 133. PDD - new short PT - 128.50 daily gap fill

ROKU - massive squeeze coming in daily. Below the Weekly Keltner Channel. Massive move coming.

RPRX - going to need weeks or months of basing before it is ready to move higher.

SMCI - NVDA - AMD - ... Shake n Bake.

SMCI - still expecting the 10-week to tag.

SLV - Sam is very bullish.

SNOW - may see a relief bounce move into 165 but has 163.25 hourly resistance.

TSLA - still nothing.

TXT - doing really well. TXT - if 80 then 100. daily 93.45 is a tight stop.

TTD - looks bullish. Needs to get above 83.50 weekly.

THC - at support; likely digests.

UBER - settled a law suit.

WSM - way out there.

$X - not exciting. M&A threat dropped price. Bouncing.

XME - hold weekly 56. not falling apart. Weekly Bollinger starting to "curl" in towards the Keltner Channels

Earnings revision (flat to down) for MSFT and AAPL is why XLK has any growth (7%).


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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.