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#trading-room-summaries
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
Rithika chase summary notes
QQQ below 484 pushed to 482 below that we have 480 again
SPX stays below 5632 we go back to 5622,5608; needs to tag 5658 during regular trading hours at some point
VIX stays above 16.31 can push into 17.3 next
Growth to value ratio still above 2
GOLD having a fake breakout, if below 2470 gets very bearish unless the retest holds
NVDA 129.80 pivot below we have 127 again, above we have 132,135
MU 111 tagging next is 113.50
DIS stays above 90 next is 92.5
NFLX stays above 696 we can see 700,705,710 stop: 603
JD below 26.5 back to 25.67
BABA below 83 has a gap to fill at 81
PYPL above 72.5 next is 74
UPST 40.82 is resistance can overshoot to 41.7
ZM 65 resistance, pivot to stay over for 67,70
PTON short covering rally over 3.78
ABNB below 117.5 can head to 115.5 stop: 118.5
BA below 174 heads down into 172,170
RKT having a healthy breakout, after some digestion could be a good long again
Michael's Trading Room Summary
AUG 22, 2024 AM
Jobless Claims still under 267k "line in the sand"
MAG7 - Stalled yesterday - stayed inside Tues range. So far this morning (premarket) we are inside yesterdays range.
Weighted Dollar / Yields Ratio -
IWF:IWD - gapped to 2.03 premarket. MACD nearing a daily cross above zero line
INTERMARKET
T2100 - breakout failed & came right back in.
T2104 - slightly red this morning.
T2123 - flat this morning but developing a "scoop" pattern daily.
T2126 - breakout failed & came right back in.
WTI CRUDE - no surprise if we see some stability.
GOLD (futures) - back under 25k. Break 2470 daily to have some more weakness in mining space. Fake Breakout
Bit Coin - Tested 61k and failed to keep it.
FX
Dollar (DXY) - tagged 101 & popped up a bit; still under 101.50$ daily.
USDJPY - Above 146 daily - still range-bound within the last few days of price.
EURUSD - suspicious
BONDS
TLT - rejected daily 99 again; still above 97.50
TNX - holding above 3.8%
ZN (10Y) - large move down today took out yesterdays low
ZT (2Y) - move down today took out yesterdays low
10/2 spread - down slightly today.
INDEX
SPX - 5639 daily expected by Friday. 5688 above that (hourly) ... gapped up at the open. sam think after digestion 5658 tags during regular hours
IWM - hanging out here. "if" - hold above weekly 212.25 ...
QQQ - 495.41 hourly gap fill. THAT WILL FILL. Not "if" ... "when" ... Pt's above that are posted in Slack. below 482 offers 480 (again).
VIX - above 16.30 offers 17.30 next
SVXY - red - still inside yesterdays' range. That needs to hold.
BXM - massive. Massive. MASSIVE. 1954 weekly getting hit. 1957 daily tagged. Outside the Weekly Bollinger bands.
CHASE
ABNB below 117.5 can head to 115.5 stop: 118.5
BA below 174 heads down into 172,170
BABA below 83 has a gap to fill at 81
DIS stays above 90 next is 92.5
GOLD having a fake breakout, if below 2470 gets very bearish unless the retest holds
JD below 26.5 back to 25.67
MU 111 tagging next is 113.50
META - "Scoop" pattern.
NVDA 129.80 pivot above we have 132,135 below we have 127 again
NFLX stays above 696 we can see 700,705,710 stop: 603
PYPL above 72.5 next is 74
PTON short covering rally over 3.78
QQQ opening above 484 this morning ; if above next is 486 below 484 we have 482 again \ QQQ 482 tagged below that we have 480 again
SPX 5658 filled, gapping up is not so healthy \ SPX stays below 5632 we go back to 5622,5608
UPST 40.82 is resistance can overshoot to 41.3/5
VIX stays above 16.31 can push into 17.3 next
ZM petering out at 65
TREND
LLY - all time highs
HONORABLE MENTIONS
Over-sold plays getting a rotation.
AFRM - get above 30.73 weekly for a run into the 200-day MA
AAPL - trigger at gap fill. Firm.
AVGO - shake n bake in Semi's.
BJ - don't like that it broke 80.42 weekly. not worried about the fall.
$C - still under 66 weekly. Will be tough to get through that. Don't like the banks higher here.
GDX - touched breakout weekly.
IBM - 195 is critical weekly level.
IP - doing well.
MDWD - had good news. looks like it will double in price (again).
MU - 113.50 daily is in play "right now..." (111.50 hourly in premarket). Weekly is 112... but 113.50 daily is more likely. If chasing - stay above the breakout.
MCD - doing great.
MMM - strong - above weekly 127.33
NFLX - Got defended... morning star reversal hourly. Above 696.50 hourly "it's moving"
OPEN - not a safe bet like $RKT ... 1.96 weekly is pretty darn low.
PTON - above 3.78
RDFN - better base than OPEN.
RIVN - this is still in distribution. Could take many moons before the 200-day turns higher. Don't trust deeply over-sold plays.
RKT - massively bullish. going to digest - it's gotten extended. If yields bounce this likely pulls back.
SNOW - bad.
TPH - took a little while - slow.
UPST - reversal candle that just tagged.
VALE - still see weakness.
WELL - crushing it.
XLK - trigger. Gap WILL fill.
XLP - monthly - taking off. Awesome.
XLV - always watching. Like it
XLU - above 73.39 - like this.
XLF - 43.54 needs to break (weekly) & it's not getting action today. Don't like the banks higher here.
XLE - don't like the idea of adding to energy space - looks like it could "give sway"
ZM - has a look of short covering; tagging the 50-week. above the 200-day now. Going to take weeks before it's a consideration of a bottom fishing play.
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Samantha's RECORDED Live Trading Room - 8/22/24