$TGT trade idea 2-2-2d reversal on the day and the MONTH! Puts under 160.80 Targets $158.50, $157.56, $156
$NVDA trade idea heading into tonight's earnings Calls over $214.94 Target $217.40, $220 (gap fill) Puts under $206.18 Target $196
$META price update Looking for $META to bounce with $SPY and retest $176.42, then $178 PL. However if it loses $172.88 we'll likely retest $169.71
$SPY has taken out most of my bearish price targets and is headed towards the 50EMA which sits at the $400 PL. This is a must hold or we'll see $396.50, $395, then the top of the downtrend breakout. If it bounces off $400 we'll likely retest $404 before a continuation.
$SPY with the 3-1-2d on the week and breakdown on daily. Watch video for updates.
I wanted to follow up on the chart I posted a few days ago, which showed the MACD and clusters of consolidation. The current situation is that as long as $SPY maintains its daily trend, things should remain stable. However, if it fails to do so, bears may become more active and push for a retest of $405, $402.35, and possibly even a 50EMA meeting at the $400...
$ABNB strong earnings print, they didn't give back any of it. I'm looking for some sort of retracement before extending to the $158 PL... Calls over 138.75 Target $143 Puts under $129.85 Target $120.87
$TSLA with a hammer on the day and 2-2u continuation with FULL time frame continuity. Calls over $214.66 Target $223.80 Puts under $206.11 Target $189.44 Be careful with $TSLA, it will Switcheroo on you with the quickness
$SMH inside day with the double inside week. I'm looking for the 2-1-2u with the breakout Calls over $253.14 Target $255 Puts under $247.55 Target $ 244.58
$NFLX finished inside on the daily above the 9EMA. I'm looking for a 2-1-2u with a breakout. Calls over $363.75 Target $374 Puts under $354.24 $Target $344
$ZM with the 2-2-2u continuation on the daily and strong close above the 9EMA Calls over $80.80 Target $84.44 Puts under $76.99 Target $74.25
$META managed to close above the 9EMA again during another stress test. I'm looking for a 2-2-2u reversal with a wedge breakout on the daily. Still a double inside week heading into tomorrow's Jobless claims and PPI data. See chart for triggers and price targets.
Look at MACD on the chart and what has happened following each of the red arrows depicted on the chart. Remember MACD is a lagging indicator so it formulates after price has already started to move.
Another thing I am noticing from the current price action is that $SPY market is setting up for a big move. Whenever we get into these consolidation clusters(which could be an accumulation or distribution zone) a big move follows. Price has been holding the 9EMA, hasn't taken out the trigger for puts and has gone 2u on the daily, however it has been struggling to...
$ABNB with the 2-2-2u reversal on the daily, gap fill and close above the 9MEA, heading into to earnings. Calls over $116.42 Target $119.28 Puts under $109.81 Target $106.54
$WMT Trade Idea Calls over $146.12 Target $146.42, $147.86 Puts under $144.51 Target $143.72(gap fill)
There was a $6.7 move priced into the Options for tomorrow's expiry heading into the close. $SPY close at the $12.83 PL a $6 move to the upside would clear the $418 PL, while a hotter than expected CPI print (Core YoY hotter than 6.2%) should send $SPY south of $406.
$GOOGL with the 2-2-2u reversal on the daily and looks like it wants the $405.80 gap fill. If it can gain support above the bear gap it could extend to the $107.8 PL, but if if loses $108.80 (9EMA), it could fill the bull gap down to $100.43