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Samantha's RECORDED Live Trading Room - 5/8/24

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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 still holding firm, getting bid back up
QQQ above 439 we have 442,445 again
SPY pushing back to 518 above that we have 521,524
VIX better chance at volatility when we come back down to 12.70 and bounce
Crude pushing down to 79.11 with 77 next
Gold still digesting while nat gas is trying to break out
TLT 91.30 then 93CELH bounce yday - said likely to retest 70-69
UBER bounce into 66 this morning likely to retest premarket bounce area of 63.53 wkly support.
Best looking long chases/swings today: VRTX, TEVA
Otherwise nothing special: large NU calls getting sold.
OSCR, AVAVA still working higher on swing long basis past few weeks.
XLE, NEE as well.
TSLA target approached, fill that bounce area higher first before further roll over
ONLY if nvda breaks 892 we have 863 above 896 we have 920,936
Shop not good earnings, below 62.5 we have 59.8
COST pushing into 787 sams target, likely digests there good trade of the week from 745
BABA 78 good level of support, if it wants to hold this bullish swing higher needs to base and bounce here
HYG gap fill into 77.75
XLE push down into 92.2 and into 89.29 eventually
VRTX needs above 421 to push higher
ANF above 131.3 next is 134,140
TEVA above 15.22 pushing into 15.72 and 16.74 in time
AMD above 155 we have 158.35 stay above 154

BONUS FROM SAM
SPX tagged 5200 PT and pulled back yday; attempting to get back there today but we have the 10Y auction at 1PM.
As I warned in market thoughts, I expect digestion below SPX 5200/QQQ 445 so careful in the chop. When we get/stay above 5200, we can have call chasing, but not until.


Share Macro-to-Micro by Samantha LaDuc

Michael's Trading Room Summary

MAY 8, 2024 AM

Weighted Dollar / Yields Ratio - not doing much yet. Could see 300; below that level is "bullish the market"

IWF:IWD - Looks like a possible bounce.

INTERMARKET

T2104 - a little selling under the surface.

T2123 - green but neutral.

WTI CRUDE - demand and supply is always part of the process. Take a look at Bobs channel in Slack for more on that. stay below 79.11 w/ a 77 PT & then 76.55 PT.

GOLD (futures) - Hanging in there; w/ silver. Expecting digestion.

Nat Gas - trying to rally out of the funky wedge (daily).

Bit Coin - has not gave up; long proxies don't look safe.

FX

Dollar (DXY) - above 105.50. Shake n shimmy. Setting lower highs on hourly but trying to rise. "weak" bounce. 105.77 / 105.80 resistance likely holds

USDJPY - the big one to watch; has not "stayed down". Want to see a break of 152 to also see 10Y fade lower. 156 PT is where it should get rejected.

BONDS

TLT - 91.30 PT (or the 50-week). 10-week also resistance. Still working higher. 93 PT.

TNX - bit of a bounce off the support hourly. 4.33 to 4.688 is the channel. Tagged the 55-day. Not a surprise to see a bounce. Expecting lower still. Still looking at the 200-day MA (lower).

ZN (10Y) - trying to bounce.

INDEX

SPX - 5200 call wall PT taken out. Rejected there. If we get above that (with momo) they will start clamoring for calls. Minor gap below yesterdays close. We'll open below that gap level.

SPY - could come into 518 PT.

IWM - getting hit hardest - w/ yields popping.

DIA - a little weakness.

QQQ - 445 PT not yet taken out.

VIX - 13.10 was gap fill. 12.70 next PT. Could see some volatility after tagging that.

SVXY - green & breaking out;

BXM - a little red from hitting the bollinger bands.

CHASE

ANF above 131.3 next is 134,140

AMD above 155 we have 158.35 stay above 154

BABA 78 good level of support, if it wants to hold this bullish swing higher needs to base and bounce here

COST pushing into 787 sams target, likely digests there good trade of the week from 745

HYG gap fill into 77.75

NVDA - ONLY if nvda breaks 892 we have 863 above 896 we have 920,936

QQQ above 439 we have 442,445 again

SPY pushing back to 518 above that we have 521,524

SHOP not good earnings, below 62.5 we have 59.8

TEVA above 15.22 pushing into 15.72 and 16.74 in time

TSLA target approached, overshooting into 172. below that we have 167.5

UBER below 65 back down to 63.3

VIX better chance at volatility when we come back down to 12.70 and bounce

VRTX needs above 421 to push higher

XLE push down into 92.2 and into 89.29 eventually

HONORABLE MENTIONS

GOLDMAN Said that buybacks are starting up again; could see some supporting action from that. 86% of the components meeting companies are in that open window. CTA's are not into selling mode but are buying bonds.

AMZN - getting tapped back at 188.

AZN - news yesterday; not falling much.

ANF - looks bullish but still expecting it to roll over & fall lower.

ANET - trying to breakout on weekly.

BROS - restaurants getting bid.

BYND - still under the 200day MA.

BABA - came back to 78 support.

CRSP - still under the 200-day & the 55-day MA. Just not in play right now.

COST - protect your longs. Doing great.

CPNG - strong reversal weekly. Evening Star reversal; hanging out at the 21-day.

GMED - thin. Looks great.

GDDY - extended.

DRI - not doing well; has to get back above the 100-week & then the 50-week.

DDOG - bouncing on the 200-day a little bit.

HIMS - good report but sold a bit. Get back above 12.31 weekly for a cont move higher. The CEO put "foot in mouth" in the press release & caused the stock to sell off (but the earnings were good).

HYG - 76.78 daily support "should" get supported. 77.63 gap fill for long PT.

JD - still has not come back into supprt.

KWEB - 29 support; let it fall into that & then we'll see.

LLY - better short under 764 hourly. Distribution on daily.

MARA - not safe.

MRNA - too many trapped longs; firm above 10 & 21 & 59-week; above the 200-day MA. It's working but - it's sketchy. It gets chased but - sketchy.

MELI - not falling apart.

META - bouncing on the 30-week right back into the 10-week. solid move back into the 55-day MA.

NVDA - 896 now. needs to roll over at the 888 level to target 863.

NFLX - up again; back to it's earnings date price.

NVO - has not fallen apart.

PYPL - failed to keep the breakout

RDFN - get above 7.00 weekly. It's junk ($RKT is better).

RKT - like this - especially w/ the prospect of falling yields.

SHOP - down. Hitting 62.50 hourly in premarket. Gapped below the 55 & 200-day MA.

SYM - has to get above 47.23 weekly. Needs to break out of that

TOST - spending on restaurants.

TRIP - took a beat-down. Drama.

TEVA - looks good; options getting acc. Stay above 15.00$

TSLA - "news" - Likely fills the gap higher first & then fades lower.

UBER - down. Didn't make it. Below 66 hourly. Only a long if we get back above that level. 63.53PT already hit hourly.

UPST - rejected the 55-day MA.

VKTX - still fine. Play on $CRSP plays are giving it some flows. Great chart.

VST - still in play;

VLO - soggy. Looks good for a short below 160. Long above 160. has a solid record of buy-backs.

XLE - 89.29 daily short PT.

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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.