Sunday Prep 9/12 - $NQ/$QQQ Did What We Were ExpectingPretty much what we were expecting..
… lose last week’s lows and we see the 20d. Well, we almost got there. Let’s see if that is what we need to do this week in order to see the price find some buyers.
Under the 20d the support level I’ll look for is the 15k level where you have the quarterly and 50d.
2021
Sunday Prep 9/5 - $SAVAMajor short trigger last Friday on that 49 crack. Will be looking for all pops back into $50/200d to find sellers and roll back over. I don’t usually do this, but I am intimately familiar with this name and if the speculation is correct, my $4/share valuation is GENEROUS. LOL.
Sunday Prep 9/5 - $HOG Short Candidate from a Long time BackIf you remember a month or 2 back, this was shared as a short idea, and it’s really behaved nicely since. She struggles every time she pushes back up into the 20d and the 200d. I think now, if she breaks under 38.73, this could have quite a bit more downside.
This was the chart posted a long time ago that got our attention on this as a short candidate.
Sunday Prep 9/5 - $ADSK This Might be a Great Buying OpportunityTypically I prefer names in this section to be sold off quite a bit more, but I really really like this name in general and think this might be a really great buying opp, even for longer-term accounts. Currently the way I will play it is to buy any opening weakness risking under last week’s lows. But if we continue lower, I would love a shot at buying this around 270. If the trend reverses from here and proves to hold, I will look to join trend and most likely have a swing mindset.
Sunday Prep 9/5 - $MRNA Looking good for a move back to ATHThe setup is there to take this name back to ATHs. Technically needs over 418.44 to confirm the long trigger, but don’t think that’s going to be a problem if the momentum continues.
Will need to see some retests of key levels hold before being interested. First area of interest would be the recent breakout level of $414, but would much prefer a retest of $400/20d.
Sunday Prep 9/5 - $HD I like the look here Technically this setup won’t confirm until over 331.66 (check charts with pre/post-market data to see why), but I like the look here especially when you consider the weekly chart with it. Think it could see 338 quickly and after that ATHs within striking distance.
Sunday Prep 9/5 - $NFLX Finally breaking out of the long baseI would be a complete moron to not have this name in here this week. We are finally breaking out of this really long base. I’m just hoping the name gives a decent pullback before setting sail into the 700s. Would really like to see a retest of the 568-570 area so we can look for support.
Sunday Prep 9/5 - $SPY/$ES Sideways action - Not surprising!!Last week was a pretty narrow range for what we’ve been seeing. Doesn’t necessarily mean anything. We’ve seen a decent move up so some digestion isn’t a surprise. Will be using under last week’s lows as the first area to think we see a bigger flush lower. The area I’m interested in seeing tested is the 20d as it lines up almost perfectly with the monthly pivot now. Below that the 50d also lines up beautifully with the next monthly pivot as well as the quarterly pivot. 4600 is the first real area above that I am interested in as possible resistance. The monthly timeframe chart continues to give caution, but not going to let it deter me from getting long on legit setups.
Sunday Prep 8/22 - $AHonestly would like this to get higher and look more extreme, but you have to look at historically how this name has acted every time it’s pulled away from the 20d in this fashion. Will watch for intraday lower highs to show signs of weakness and the ability to have defined risk. If it can somehow extend further, I will be stalking for the same thing. Always be patient for the author (price) to TELL you it’s ready. No need to be first.
Sunday Prep 8/22 - $ARKKThis was in the Sunday Prep 2 weeks ago for a short and so far it’s come in quite nicely. Would prefer pops back into resistance to hammer short, but if we were to break 113.27 I would probably start shorting pops joining trend. Michael Burry recently came out publicly about being short this and if I had to pick between him and Cathie Wood, it’s really a no-brainer. Love to know that the king of due diligence says that the fundamentals match what I’m seeing in the chart. LFG!!!
Sunday Prep 8/22 - $BABAReally impressive how far this has come in. Typically I keep china names off the Sunday Prep, but I think this is becoming quite the opportunity. We have now retraced to the 61.8% fib level
Will be watching for capitulation down into that quarterly pivot area of 144-145. It may gap up in which case I will possibly look to get long and risk Friday’s lows.
Sunday Prep 8/22 - $VRMThis is straight from last week’s Sunday Prep. Same idea, still looking for that 22-23 to see if a hard flush down there holds for a bounce play.
Sunday Prep 8/22 - $NVDAAfter the big pullback from earnings this chart is looking a lot nicer now. Of course I would prefer a longer base to be built. But we don’t always get what we want. I can really see this being 220-225 near-term. Looking for a quick pullback/morning weakness to put us right in that 202 area for a scoop. If instead wants to gap up or just push hard off the open, I will be patient for retests of the 52w highs to see if a trend starts to form. This has a lot of range and can fall apart even on strong days if the market decides to get weak. So NO CHASING!!!
Sunday Prep 8/22 - $BTCBitcoin staying bullish here with continued higher lows followed by higher highs. We are now testing that ever-so important psychological level, 50k. If they can get through here and continue to push, the next area of interest is the quarterly pivot at 57k which is a retest of the last long trigger it had before the big fail that resulted in the crypto rolling over. On the downside I see the annual pivot/monthly pivot/200d /20d area as an area of very high probability support. Very interested to see what happens moving forward as some of the crypto-related equities have began to shape up for some possible trades as well. Those would be names such as $MARA, $RIOT, $COIN, $CAN, $SOS, etc.
Sunday Prep 8/22 - $NQ/$QQQJUST like the it’s S&P counterpart, we got that retrace right to the 50d which held and bounced. And just like the S&P, the idea is the same. Retraces back to those levels will be the used as the key support areas. Below that I would look for July’s lows to be support. To the upside we have ATHs as the first area of resistance and after that we have the monthly pivot at 15244.75.
Sunday Prep 8/22 - $ES/$SPY Got the big flush down to the 50d/monthly pivot which held almost to the T. Will be watching for pullbacks to those levels as key support this week. Below that and there’s not much in the way of support till the monthly pivot/annual pivot area around 4270s. We have ATHs as the first area of resistance and after that maybe we finally test that 4500 area.
My trade setup in BankNifty Futures for 12th June 2021My trade setup levels are created as below in BankNifty Futures for 12th June 2021.
The Key target levels will be at High - 35680, Low 34760..if market breaks these levels, expecting
the market go beyond in double the speed.
Expecting Movements...
Opening will be Flat or Downside
Down move till 10.45 am
Upmove or Sideways 10.45am to 12.15pm
Again Down move till 2.30pm
Again Recovery till 3.30pm
Close near at Low of the Opening level of today
**** May be a significant fast-fall today