AdvancedPlays

AdvancedPlays

SNOW gapped up over a descending trendline today and has held on a retest. If it continues moving lower, I expect it to hold again.

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All of my trade setups will always depend on VX. It had been extremely weak since the market bottomed in April, but it was strong today and that put a lot of pressure on ES. VX rejected at the 13.85 level in had been watching. This is the make or break level for the short term IMO. If it's strong again tomorrow I'll be looking for puts on SPY/QQQ, but if it...

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NQ looks very similar to ES. Ascending channel break + double top at supply. If NQ breaks below 18240, I like shorts, but longs above. Long tsrget is the previous double top. Short target would be the trendline below or potentially 18,000.

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ES just broke below an ascending channel and made a double top at supply. However, it's still holding above 5240 so I think it could end up bullish, we have a descending trendline now that could lead to a breakout as well. I'd look to long if above 5240 with a target of the previous double top/supply. If it breaks below 5240, I like shorts targeting demand near...

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I love this stock for a long term play and there's a good setup here on the shorter term time frames as well. I expect this stock to be among the strongest if the market continues to rally.

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GME broke out of a bull flag on the 1hr this morning and rejected pretty hard, but held perfectly on a retest. Looks ready to try another leg up soon.

AdvancedPlays Updated 

SNOW looks like it is ready to run up into earnings and some of its conferences where they plan to announce plans for the future, NVDA will be a part of it. SNOW has shown some weakness the last 2-3 days, but the long term picture is still bullish unless NQ rolls over.

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This is a trade recap from day 1 of my small account options challenge. Aiming for $50k profit with a MIL:1K account. Only made $33 today, but can't complain because of how choppy things were. Happy to have a green day and I'll slowly scale up my size and risk so I can have some bigger winners. Defense is the most important for now.

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BTC has been weak lately and is forming a bear flag now. I'd expect a break below and a retest of the GETTEX:59K area before starting another leg up.

18:37

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Weekly analysis video including my thoughts about the upcoming economic events and price action on the S&P and Nasdaq.

AdvancedPlays

QQQ was looking great on Friday morning, it finally managed to break out above its bear flag and a downtrend it had been in since April. Unfortunately for bulls, it quickly rejected after consumer sentiment was released. Having a fakeout like this will usually lead to a larger move in the opposite direction, but I need to see more confirmation. I'll be looking for...

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NQ failed on a breakout attempt last Friday morning. It hit the top end of supply and trendline resistance at the same time, right before consumer sentiment data was released. Price precedes news. Here are some bullish and bearish scenarios I'll be watching for this week.

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SPY quickly broke out of its downtrend and even broke out above a bear flag that had been forming. We had a low volume week last week, but SPY closed strong, pushing all the way back up to $520. It's wild to look at where SPY is now considering what the market was like just a few weeks ago. Bears get squeezed once again. I have a lot of suspicions about this...

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ES moved up slowly last week on unusually low volume. It had been forming an ascending wedge, which would normally be bearish, but this time it broke out above. I'm skeptical of this move due to the volume, but as long as it can maintain above this wedge and/or 5200, I think a rally back into supply at 5300 is likely. We'll have to wait and see if that ends up...

AdvancedPlays Updated 

NQ had a nice rally this morning, but quickly rejected after consumer sentiment and some fed speakers. I thought it would hold above 18240 on a retest, but it hasn't so far. If it can't reclaim, it will most likely head back towards 18k.

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This is kind of a messy looking chart, I don't usually like to have this many lines. What I'm trying to illustrate is that VX has been slowly stair stepping down in a pretty controlled manner. I was surprised to see this morning's rally fail with VX doing this, but there is just no momentum or volume this week. Not sure what to make of all of it. The low volume...

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TNX just bounced off the bottom end of its ascending channel and formed an inverse H&S while doing so. Kind of scary looking for bulls.

AdvancedPlays Updated 

Gold recently sold off after falling below its ascending wedge, but looks ready to make a recovery after breaking above a descending trendline. I'd expect upside from here, or a retest of the trendline before moving higher.