ES_F plan for rest of day: Look for panic selling at the 4650 area. If it breaks 4620 comes, if it holds we should zip back to 4700-4712.
Bought some ADBE lottos down here at $523 this morning. Looking good if market settles.
Watching $75 and $82 area to see if these are potential buy areas for AFRM moving forward.
TSLA a very nice rebound going into last week. Not a huge fan of it here around 1100. I like it more near 1000 and 950. Possible it breaks through to test 1177.09 before it fades back to the 1000 magnet in the January downtrend. I'm still buying shares under 1000 as long as I can. Target is $3600 (current split) by the end of 2024.
ES flagging and creating a 30 point range. Take trades when you have them. A break and hold of 4800 should open up 4820 and possible 4840. Below 4770 is 4740 and a daily close under 4770 should get us to go retest that 4712 area which s/r flipped and hasn't been tested. Clean 100 point range to trade in.
ROKU trying to break out over $237.44. Over that and the 50d ema looms at 257. Could be a great trade this week.
Alpha Traders members banked hard on LRCX for the last 2 months. Can it continue? A rest day is in order, but if through 707 ATH aren't far away. If it can work through the overhead supply it may be a 1000 name in 2022.
GOOGL looks like it may need a cool off day tomorrow. If it indeed does, I want to wait for the 2900 area to long into the rest of the week. 2965 would be Target 1 followed by 2980 and 3000.
In a perfect world this rejects 94.42 and we can short this thing back to $87.43. This is a perfect setup for a short to then create a "handle" of a "cup & handle" formation for chartists.
Pretty easy to see here on NVDA: Daily close above 300 can lead a move to 310 area. Would love to see NVDA at 330 if SOXL wants to really go.
Quite the run on Friday as Alpha Traders members banked 400% twice! If TSLA opens over Fridays highs $1121.82 most likely comes. If we stall at $1100, it may end up being a great short into 1032 area. Keeping on watch.
Should be a low volatility week with many desk traders on vacation. Could see VIX fall to 16. Under 16 you're looking back to local daily lows under 15. Would set up a run to 4800+ ES_F if under 15.
IWM is at a crossroads. If buyers step in this week they must fill the gap at 228.53 (in blue). 226.67 will be hard, but if they successfully get through and a daily close above 228.53 a run to 240 is not out of the cards THIS WEEK.
QQQ daily close over 398.71 sets up a run back to ATH and should lead a breakout in SPY. Would think since we are tapping upper supply a day pullback is in order to reset some chartist's indicators. 4 days in a row green. My thoughts are we end back at ATH then make a decision from there. Would create a double top looking idea if it doesn't have a daily close...
ES_F looking for a breakout of 4742 this week. The amount of buyers that will come in on a confirmed s/r flip there will blow your mind. Plan for Monday: Chop to pullback at 4680 and max pain at 4667 into Tuesday. Looking to buy and hold as long as we don't close under 4650. 3 historic levels that have been a huge area of interest for both buyers and sellers. Blue...
IWM can create a lower high low with a move to hold 220 tomorrow. Has some work to do to get over $227, but if we do it can gap fill to 228.54. Lets see if they want to double top IWM.
QQQ has a lot of supply until 401.19. Daily close or confirmation above can run it back to ATH quick. Might be choppy around 400, but could be a good same day lotto if over 400 for a tag to 401.19.
SNOW looks ready for a move. Daily close over 377.87 can send this to $392 and possible $405 with some volume. Don't think the great R:R is until a confirmation over 377.87. $375.29 you can use, but odds of it failing at 377.87 are high. If it gaps over, you could buy the gap fill in morning or buy gap support for a possible big move.