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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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Samantha’s Live Trading Room Summary
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Rithika's Chase Summary
Rithika chase summary notes
IWM above 215 can push into 217; above 217 back to 221/2
SPX 5640 ish tag and rejected now above 5600 has room back up to 5658
QQQ 481 failed and gap filled but if it stays above 477 should push back up to 481 and 484 again
VIX stays below 17.31 comes down to 16.3,15 again
Advance decline pushing higher
ROKU over 63.5 can push to 65, 68 if above 68 then 71
ZM 67 becomes pivot now if above has 70/71 next
AMD trying to bounce off 153 again, if flow comes in can see 156 again above 156 we have 159,161
NVDA over 126 can push back up to 129; above 129 we have 132
ROST getting extended at 160 careful of a rejection here
SNOW below 115 can come down to 110.5 stop: 117
AAPL stays over 226 then 228, 230 in reach with an overshoot to 232 stop: 224
TSLA 221 ish tagged and rejected now 217 is set up again as pivot higher moves back to 221,225
Michael's Trading Room Summary
AUG 23, 2024 AM
Waiting for Powell at 10AM. Speech released early. Sept Rate cut - 0.25 BPS. Powell Pivot is complete - Dovish across the board.
MAG7 - in premarket trading we have popped back into the mid-point of yesterday - still above the 10, 20, 50 MA's but they are tangled.
Weighted Dollar / Yields Ratio - still broken.
IWF:IWD - smack-down took it under 2.0 ... MACD still below zero and starting to flatten out.
INTERMARKET
T2104 - good timing trigger - 4x in a row this year. Boom Boom. Triggered - really took off.
T2123 - still moving higher - which is bullish NYSE / small caps space. Hourly daily weekly bullish; expecting some digestion but not seeing it yet.
T2126 - Weekly Breakout - holding so far. Large gap up this morning (hourly).
WTI CRUDE - yesterday bounced on 72 daily - today it continues to move higher
GOLD (futures) - 2480 daily support held; testing 2500 this morning. Tagged 2470 hourly.
Bit Coin - wedge under 62k daily.
FX
Dollar (DXY) - testing 101.50 this morning after catching some support at 101. Does not seem" bullish" here.
USDJPY - 146 this morning - after testing 150 last week and fading back. 145 daily minor support held this week.
EURUSD - blow higher. not there yet.
BONDS
TLT - r2g & tagged 95.50 daily. Have been a bond bear
TNX - tagged 3.8% this morning.
INDEX
SPX - Rally into OpEx is still the baseline bet. 5750 then 5800 wouldn't surprise ... has to get above 5658 first however.
SPY - 564.01 we WILL hit.
IWM - above 212.25 ... above 215 hourly. Get above 222 area & then we'll see.
QQQ - bull run aint done. 495.41 we will hit.
VIX - Perfect off 14.50. Softening again. VIX stays below 17.31 comes down to 16.3 again
VXN - coming back in.
BXM - this is in distribution - not falling apart. Textbook into OpEx. trying to stabilize.
SVXY - shake n bake - trying to stabilize.
CHASE
AAPL stays over 226 then 228, 230 in reach with an overshoot to 232. stop: 224
AMD trying to bounce off 153 again, if flow comes in can see 156 again
IWM above 215 can push into 217 \ IWM above 217 can see 221 next above 215
NVDA over 126 can push back up to 129
QQQ - above 481 back to 484 again / 481 failed and gap filled but if it stays above 477 should push back up to 481 and 484 again
ROKU - over 63.5 can push to 65, 68 | 66 tagged on its way to 68 | ROKU at 68.11 is resistance, if it can get above can see 71
ROST getting extended at 160 careful of a rejection here
SPX holds over 5600 we see 5622, 5658 again
SNOW below 115 can come down to 110.5 stop: 117
TSLA stuck at the trend line needs above 217 for 222; market waiting on powell
VIX stays below 17.31 comes down to 16.3 again
ZM 67 becomes pivot now if above has 70/71 next
TREND
CCJ - trend long - not worried. Still bullish this sector.
HONORABLE MENTIONS
ARM - choppy - but sideways is bullish as it consolidates. Looks bullish still.
AAPL - 228.87 daily - then 232.33 daily needs to tag so careful if trying to short it.
BJ - upgraded this morning. Violent market so know your timeframe.
CHWY - coming back up. Massive support @ 200-day ... back into resistance. Not exciting.
CAVA - making money well - weekly breakout - in a trend. People love it.
INTU - good report but down this morning. Tagged the 200-day MA and that is sorta supportive.
MREO - under-valued. Nothing wrong... little spiky.
NVDA - perfect. Sam said it would overshoot & digest - also Dumped into the 8-day like Sam said.
OPEN - has room to go.
PTON - 378 trigger. It just blew up; digesting. Hit 200-day.
ROKU - premarket @ 64.00$. Why not. 50-W going to hit very soon. overshoot possible to 68 - 70.95 in time.
ROST - they love this one. Weekly breakout.
RKT - still going great. Another choice would be UWMC or COOP ... they are all working.
RARE - 55 weekly level.
RDFN - great beat on housing sales. ($OPEN too). Stunning.
SKY - weekly breakout - really good looking play.
TSLA - hourly pop.
TM - we'll see what happens.
UFTP - likes lower rates - looks good
UBER - tough to get above 70
WMB - hold above 44.50 - looks great.
WDAY - impressive chart. Monthly is wicked. Right into 264 & then resistance.
ZM - short covering rally - get & stay above the 50-W ma... 72.00 weekly. likely digests & comes back to 60 in time.
weight loss names
LLY, VKTX, NVO, TERN ...
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