AMD: EOD Reclaim and momentum into the close. Looking to reclaim >155 and retest previous high of 156.73 from bounce of key 20SMA intraday// ATR: 7.47, Beta 1.90
NVDA: Directional conviction over key psych level of 300. Price action has re-established over key moving averages and is poised to break over a wedge formation. Looking for hold over KL's during opening activity as confirmation of structure. Conviction through midday holding will signify acceptance of these technical levels.
TSLA: Round 2 into the holiday weekend. With the buzz of Elon's sales or non sales and Tesla Giga Berlin securing production start in 2022, participants are accepting higher price shelves once again. TSLA moved over key moving averages in the pre market session and is currently +3.73% since the open. 1050 is a key psych level here for the market. It is bouncing...
AAPL: Continuation to upside from the lows with new price target upgrade to 200 via Citigroup and reports of stronger sales. Technicals show a strong bounce over the 20ma. Upside dominant.
NQ Weekly intact leading into the EOY. Strong regression and approach to mean as a KL as it revisits previously auctioned levels.
NVDA: Momentum off the lows and up > 4% with positive ER from MU and sympathy with the sector; Also named top pick at UBS. KL's Price action bounce off the 50SMA supports upside auction.// ATR: 17.96, Beta: 1.35
PFE: continuation off of ATHs based on promising FDA approvals and current pipeline. PFE is finding healthy price discovery. Cup and Handle formation observed on the monthly. 3Bar play observed on multiple intraday timeframes and on the daily. PTs of 62 issued recently // ATR: 2.06, Beta: 0.67
FB: AM build off the daily low and poised to breakout from a daily downward channel. Price action is observed above key MA's and is on watch for continuation above 345 and reclaim of previously auctioned price shelves. Key events include streaming deal with Neymar and Netherlands center approval// ATR: 10.61/ Beta 1.29
AAPL: Pure momentum monster, 3T market cap on deck. 3Bar play identified on daily chart. Expect some time at value areas after breach of new highs. Poised for 180's in short term// ATR: 4.19, BETA 1.19
MSFT: Bullish Engulfing on intraday. Bounce off 9ema and 20sma making for clean upside technicals for today. Catalysts explored include Cloudflare joining partner program. Channel since May is being observed for momentum/oscillation of trend// ATR: 6.69, Beta: 0.87
AAPL: Outperforming another monday in the index following an initiated coverage from KeyBanc to a PT of $191 and a maintain on overweight position. AAPL is breaking out of a channel from March and seeing participants acceptance at higher price shelves. Monthly target favors breach of $170 level// ATR: 3.95, Beta: 1.20
SPX: Downside activated after rejecting Thursday's EOD fake out. Four bar play at close failed with clear wicks in TA and with higher selling pressure into peak of am. KL here is 4524, before auctioning lower at 4468. Correlation with elevated VIX is also illustrated. Lets see if market continues or deviates at these key levels.
SPY 4 Bar play into the close. Auction seeing higher price shelves despite elevated levels seen in VIX and PCC today. Let's see if she holds leading into EOW.
TSLA: Breakout off a strong bounce from the 20SMA. TSLA is oscillating and refilling its prior regression trend. Break out of pennant, heavy call flow at the 1200 strike, and positive news regarding patents, Musk, production all have it prime to see auctions back up at higher regions// ATR: 63.15, Beta: 2.03
MRNA: Pure momentum monster leading the index today with a move +25.83% while the market touches new lows. The +66 pt move brings it back to a key level of its 50SMA and critical re-establishment on previously auctioned price shelves. MRNA holds its upside contingent on variant mutation news & uncertainty// ATR: 17.73, Beta: .1482
AAPL: 3bar play setup with its recent momentum this week. Surge of participants entered with news of EV launch progress. $185 PT is set by Wedbush as part of its 12 month outlook. 160 likely here acutely// ATR: 2.48, Beta 1.22
RBLX 65m: Potential 3Bar setup here. Needs volume. RSI approaching upper limits as well. ATR: 7.36, Beta: 1.32
FB: Leading the communications sector today posting >2.50% for the morning session. Multiple reiterations of a 400PT and Metaverse mania has FB finding agreement with volume and directional performance. ATR: 8.78, Beta: 1.29