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Samantha's RECORDED Live Trading Room - 3/11/24

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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

Nothing too alarming in the market 
Yields are holding onto 4.1 and DXY having a little bounce 
SPX trying not to break below 5100 and is in digestion,
QQQ also is in digestion lower
IWM looks the least bearish 
GLD, SLV doing great and bitcoin still being chased 
SVXY needs to break 106 to be more bearish, need a trigger for serious selling in the market 
Advance decline just appears to be pulling back to the mean
IPO still looking great for higher
BABA held 68 and broke above 72 into 76 next is 78
KWEB needs over 26 for continuation higher 
META below 493 was a beautiful short to 480, 475 tagged the 21 day and likely digests here 
TSLA stayed over 179 into 182, but was unable to break above not a lot of interest here 
AAPL above 171 hit our 173.79 target and rejected, looks weak 
AMD below 200 next 197.7,195 but smh as a whole just looks like a pullback to the 8 day
COIN below 256 we have 248
ANF continuing to roll over on its way to 115.110
RIVN over 12.74 back to 14.50
LLY overshot into 728 next is 711.88 below
SNOW price targets tagged, likely some digestion before it proceeds to 153


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Michael's Trading Room Summary

MAR 11, 2024 AM

Sam will be gone From Fri & Monday. No Macro to Micro with Sam & Craig - this week it will be Sam & Geoff. Sam stayed late Monday (03/11/24) to review the Intermarket charts - look for that video to be posted in the Slack.

MAG7 - closed down on the day Friday; opening gapped lower today near the 20-day MA. Still well above the 50-day MA.

Weighted Dollar / Yields Ratio - Below 263.50 and continues to fade lower; as an inverse tool to the S&P we see this weakness as tailwinds to the market.

IWF:IWD - closed down on the day Friday; opening gapped lower today under the 50-MA. Firmly below the 10 & 20 MA. MACD still above the zero line but pointing lower like it wants to cross under. Still have growth weakness. Growth is retreating & value is going down less fast.

GOLD/SILVER - Ratio giving a strong presence.

Intermarket

T2104 - No "net Selling" - there is nothing.

T2100 - coming back in. Not a lot of energy

T2123 - Still green - still strong. Can't see a short in the market with this green. Still in trend.

T2126 - sideways.

WTI Crude - below 78' daily. Trying to break outside of yesterdays low - but not yet successful. Petering out back below. 79.11 rejection holding firmly. BOB is bearish oil. 75.59 short pt.

GOLD (futures) - nearly tagged 2200 Friday before falling back & leaving a long wick. Price sitting inside Fridays very wide candle

Nat Gas - 2.00 daily resistance holding still; breaking down below Fridays lows.

Bit Coin - Above 72k this morning. The other Bit Coin Proxies are also up this morning (HUT, HIVE, MARA, RIOT, COIN)

FX

Dollar (DXY) - almost tagged 102 but managed to pullback away from that level Friday. Trying this morning to get above Friday's high. Little bit of an over-sold bounce.

USDJPY - More whispers of a rate hike & an end to the experiment added to the moves lower but price has managed to lift off the lows of the session after hitting 146.50. 152 weekly holding as resistance. Passed under the 200-day - firmly below the 55-day MA. BOJ 19/ 20th March. Hard to see them break lower than 146 area.

Bonds

TLT - Attempting a breakout above Fridays high. Still under the 96.50 daily resistance. Looking to cont the bounce into 97 & then 97.90 next.

TNX - Outside bar Friday; sitting near it's mid-point today. Under the 4.10% this morning. Sideways. Look vulnerable.

ZN (10Y) - Large outside bar Friday closed green. This morning we are doji on the daily but under the 112' daily resistance.

ZT (2Y) - Large outside bar Friday closed green. Down this morning but still well within Friday's range.

Index

SPX - Bearish Engulfing daily chart. Lower gap to fill. Testing the 5111 and resting on it. Shorts stay below 5111. 5094 daily support; island reversal hourly. No real excitement unless we break the 10-week.

SPY - below 508 we target 505 area hourly.

QQQ - Bearish Engulfing daily chart. Gapped lower pre-market outside of Friday's lows. Sam warned Friday of weakness and short plays. QQQ- looks like it wants to go up & fill the gap. Basically gapped down to the 21-day. QQQ - 434.35 hourly short pt.

VIX - hit 15.21 & now are above it. 15.92 hourly next level of resistance. Weekly 18.21 weekly resistance in focus. Watching 16.12 to see if they come in to tap this down.

SVXY - under the 108.85 weekly resistance. 102.50 weekly if we break the 10-week. 105.86 hourly is level to watch; breaking that offers a push short in the markets - otherwise we bounce here.

Chase

AMZN - 171.50 daily support. Longs protect to 168 weekly. If you are short - then

ANF - continued bleed. 122.25 daily support broke. Continuing to roll over on its way to 115 & then 110

AMD - short plays into 184.92 weekly. Anything below 202.64 is a short play. Careful of 193 daily minor support.

BABA approaching first target at 76.75, next is 77.8

BTU - when / if it gets above 27.28 weekly it could be a play.

COIN - short below 256.35 hourly.. could go g2r into 248

CVNA - could chop here weekly. 86 weekly rejected.

KWEB needs above 26 for continuation

LLY overshot into 728 next is 711.88 below

ML - has a lot of negative issues. No options, broke support. Nice "scoop" pattern but has a lack of charting (newer chart).

META - getting tapped down by Trump comments. Was riding the 8MA daily but now is below it. Stay below daily 499.35 for a short into 469 daily. Careful of the 21-day MA. META below 493 is a nice short potential targets of 480, 475

QQQ - headed to 434.5

RIVN - 12.25 daily support holding. 12.74 hourly support holding - over 12.74 back to 14.50

SMH not an energetic short, just a pullback to the 8 day

SPY below 509 we come back to 507

SPX below 5100 is 5080 gap fill,

SNOW - price targets tagged, likely some digestion before it proceeds to 153

TSLA - has a bounce look. If you use a LRE - keep it above 174.30$. Get above 182 for any cont long play. See a hard time getting past 182. Would move fast above 182.

TREND

DBA - still like this one & it's going well.

LLY - great trend still. Careful. We hit weekly resistance and have pulled back again. Now under 755 w/ a short term short play into 711.88 daily.

Honorable Mentions

AAP - get / stay above 72 weekly.

AAPL - filled the gap - needs to get above 173.79 to keep going. Still not compelling.

BABA - still looks good. Slowly we are seeing a 10/21 weekly cross. Earnings out of the way - Still think it looks good - but it's violent so hold your nose.

BIDU - get above 106 to cont.

CROX - long is doing fine. Boring swing.

FSLR - get above / stay above 200-day.

FXI - large gap up; daily tagged 24 and pulled back from it.

FXY - Still under the 200-day.

GLD - doing fine.

GOOGL - back to where it was Friday. Doing fine.

IPO - still looks good.

KWEB - and it's group popped up this morning (BABA, BIDU, JD).

MU - stay under 96.96 weekly for a short play.

MRNA - trying to get back above 50-week.

MSFT - digesting 409; needs to break the 10-week then it could resume the move lower. break that for a move into 384. Would have to break 397.22 daily for that 384 weekly.

NIO - stay above 5.65 weekly. Forming a bottoming pattern.

NVDA - Sam warned that this could flip & it did happen; cheers if you played it. Still looks like a short term short but not a surprise if it gets defended.

PDD - the one KWEB that Sam does not like. Would not trust the bounce.

SMCI - Sam called it higher and it has; congrats if you played that.

SNOW - kelt's support weekly likely gives this a bounce (oversold bounce - nothing wrong with a runner but meat of the move is past)

SMH - only a short if it stays below 221.32 weekly. Still above the 21-day.

SQ - close above 75.77 weekly - still looks great.

UNH - 476 daily support. 477.40 hourly support. Oversold bounce that could get sold.

XLE - a pause at 87.68 weekly.

XRT - still in trend & still looks fine. 75.79 weekly digesting.

XBI - still in trend.


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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.