10/20 Mid Week Watch - $IBMWhy: QP + Whole # (140) + 50D SMA
Reported earnings on Wednesday AH, the numbers did not seem to be impressive. Have to see how it opens, gapped down in the AH. Might be a nice one to join for a fade
2021
10/20 Mid Week Watch - $IPGWhy: Prior low + MP + 50D SMA
Doesn't have a lot of range to it. But when you see a lot of levels coincides, I want to be there if it pulls back into that level
10/20 Mid Week Watch - $ZILong off $67.15; Why: Prior low and Monthly pivot, I think this stock is setting up for a breakout
10/20 Mid Week Watch - $CZRWhy: Prior low and Monthly Pivot
Had a big move recently, prior resistance acting as support
10/20 Mid Week Watch - $NUEWhy: Prior low and 126D SMA
It's clearing the 104.50 area, could be 50D SMA magnet
10/20 Mid Week Watch - $NDAQWhy: Monthly Pivot and 50D SMA
Been on a really strong trend. Down almost 10 pts or so today. Looking for a follow through on Thursday for a curl back up from 50D SMA
10/13 Mid Week Watch - $JKS Pushing into Prior Resistance$JKS - Short off $54.50 Why: Annual pivot, Monthly pivot and Previous day's highs Notes: Its also pushing into prior resistance/support. Its couple of bucks away and has a $3 ATR. Think its going to setup for a fade if pushes into mid $54s
10/13 Mid Week Watch - $BYND Think this is gonna push into 50SMA$BYND - Long off $103.30 Why: Previous day's lows Notes: Looking at this 106.50 clear, just below the 20D SMA. Think its gonna curl off this trend and push into 50D SMA/prior resistance
10/13 Mid Week Watch - $AMD Channel Breakout on the Daily$AMD - Long off $106.55 Why: Previous low and 50D SMA Notes: Had really strong day, breaking out of the channel on the daily. Watch any weakness to see if buyers come back on it tomorrow or Friday
10/13 Mid Week Watch - $QCOM Think Its Way Oversold $QCOM - Long off $123.50 Why: Previous low and Annual pivot. I think its oversold; announced a $10B buyback yesterday. It's just an authorization for a buyback, have that in mind. Not like they are going to do it tomorrow
10/13 Mid Week Watch - $OSTK Like this Name Overall for a Long$OSTK - Long off $72.89 & $70 Why: Previous day low, 50D SMA and Quarterly pivot Notes: Just above the prior quarterly, also had lot of support around the $70 area. Bottom of the trend, like this name overall for a long
10/13 Mid Week Watch - $DFS Trending on 126D SMA Support$DFS - Long off $120.30 & $121.30 Why: Prior monthly pivot Notes: Like how its respecting this 126 moving average
10/13 Mid Week Watch - $CHK Like the Doji Candle on the Daily$CHK - Long off $61.05 Why: Previous low and Monthly pivot Notes: Nice trending chart, like the industry. Like the Doji candle from today. Coming down two days in a row, looking for a nice bounce on it
10/13 Mid Week Watch - $BBWI Watching $65 Clear for Next Leg Up$BBWI - Long off $63.05 Why: Previous low, whole number and Quarterly pivot Notes: Watching for a $65 clear on this for a nice leg up
10/13 Mid Week Watch - $SNAP Could be a $80 Magnet$SNAP - Long off $74.30 Why: Previous day low and the 50D SMA Notes: Making higher lows on the daily. Looking for a $77.50 clear and a push up. Maybe $80 magnet
10/13 Mid Week Watch - $FCX Feel this is Going to Push to $38$FCX - Long off $34.70 Why: Previous day's low and 50D SMA Notes: Breaking the down trend on the daily chart and closed above the 200D SMA. Looking for a clear of this level 36.30. Feel this is going to push to $38.
Sunday Prep 10/10 - $XENE See If Early Weakness Starts to HoldJust want to see if early weakness into mid 31s-32 starts to hold as support. If it does and the volume isn’t dismal, I may look to scoop in anticipation of an eventual push back over 33.7 to send a bunch of shorts scrambling.
Sunday Prep 10/10 - $AMD Will Look for Early Wash Off the OpenI like where this pullback from the highs has shown the ability to hold. It’s just a nice retest of the breakout from the 9 month long base that was built from Dec.’20-Aug’21 as well as the psychological 100 level. Will look for an early wash off the open to snag some in the 103 area where we have the quarterly pivot plus a retest of last Tuesday’s highs.
Sunday Prep 10/10 - $DDOG Respects Technical Levels Really WellLike this name a lot and think that the 50d/annual pivot area around 135 offers a high probability area to scoop for a bounce. I like the range on this name and I like that it respects a lot of the levels really well.
Sunday Prep 10/10 - $CVS Still like this Weekly Chart for SwingStill really like this weekly chart for a swing. Reminds me a lot of the $DISH chart with the big cup and handle forming. Just trying to position in there on dips so that if this decides to start making that push I can scale into the swing. Looking for a weak open and scoop opportunity around 82.9 which is close to the monthly pivot and the 61.8% retrace from the recent push into the underside of the 20d.
Sunday Prep 10/10 - $XLF Pullbacks can Offer Long OpportunitiesFinancials still look extremely strong as well, making higher lows and higher highs. Pullbacks can very well offer long opportunities. We also may get some extension on it, since we just broke out. Depends on the overall market though, but the weekly chart looks great on this
Sunday Prep 10/10 - $NQ/$QQQ Need to make Higher Low & Clear 15KThis chart obviously looks very similar to the $ES. We briefly breached the 14400 level but quickly reclaimed it. But since then the push back into the underside of the 20d have shown strong resistance. And is it really any surprise? You have the quarterly/annual/monthly stacked pivots all in that same area as well as the psychological 15k level. What I would like to see is a pullback, put in higher lows and then a push back above 15k. If we can do that, then I would look to see if there’s some follow through on Tech names. If we start to lose the recent lows, then I will start to look for lower highs and possibly some short setups. If we blast through 15k without any real from the bears then I would be looking at the monthly pivot at 15370 and quarterly at 15445 as areas where I would expect to act as near-term resistance. Above that we have this 15500s level, from where the selling started.
Sunday Prep 10/10 - $ES/$SPY Pullbacks are Still OpportunitiesIt’s very important to always identify which timeframes we are extended on and which ones we are not. I do this by asking if we are extended from the 20sma or are we right on it? If we are far away from the 20sma, to me that signals that we are extended on that timeframe. It's pretty obvious on the monthly timeframe we are extended. Yes, there is substantial downside if we were to lose the weekly timeframe’s trend.
But a quick glance at the weekly chart and it becomes apparent that we are NOT extended on this timeframe. In fact, this pullback we’ve seen over the last few weeks has really just been a pullback INTO the weekly 20sma. So I’m interested if we can start to hold in these areas, start to set a base, and possibly see some narrowing of the range as we get ready to make our next move, either back towards highs or another leg down.
Now switching to the daily chart, you can see the nuances of what's happening under the hood. Obviously pops into 20d & 50d are acting as resistance. Until we break above those levels, we may still find a lot of overhead supply on the other names as the market is pushing into these levels. We already kind of rejected the 50d. I’d like to see a pullback and see buyers step in before we test last week’s lows. That 4300 area would be a great area to see pullbacks start to find buyers and see if we can put in some higher lows. But if we come down and test the annual pivot and last week’s lows, I would still expect those levels to act as support.
So pullbacks are still opportunities for me to look to get long on strong names. If we push back above certain levels and then if we start to pullback and base, then I will start to look for even more bullish setups. If for whatever reason we extend straight up without really having any major pullback, maybe into 4470 (monthly pivot & recent congestion on the daily chart). Then I will look for shorting names that are extended and those which are pushing into levels of resistance. Right above that you have a quarterly pivot at 4490 and the 4500 psychological levels.
