MACRO INDICES + Volatility
QQQ- we breached the 50sma, want to see how we hold around area, if larger sell off tomorrow ill be watching 150 day at 312
TQQQ- tradeable with QQQ
SPY- watching 50day support at 415
SPXL- tradeable with SPY
IWM- watching 217 area first then looking at 150day bigger picture, still hasnt broken down like QQQ so far which are the weakest
TNA- tradeable with IWM
UVXY- will be looking dips vs 4, all depends on how sharp we are going to go down trend join post 945-10am expecting gap up on these given futures
VXX- same as above
Earnings Winners so Far that have had some resilience- these can all come in but when market rebounds in the interim will be looking for bounces here
UPS- ideally 200-205 buy area
CROX- will look for a few days of weakness and see if we can find support 95-98
BGFV- ideally comes in 25-27 for chance to buy
Bitcoin/ Crypto
COIN- insane relative strength today will be looking 275 bigger picture if crypto can stay up
RIOT- broken for now, potential bounce off 150 day ma at 27 but wouldnt be surprised to see this crack the 200
GBTC- see if it can hold above 100 day if can and potential next leg would be looking for flag breakout and interested to see basing 48-50 level
Other
PRTY- earnings positive reaction, narrowed loss + increased guidance- will be looking for 8.20-8.50 level to hold in coming days, key point is here I am looking for stocks with major relative strength compared to overall market
W- earnings beat as well watch 945-10am
BTX- from 80- 30 in 5 sessions, going to see if 29.40s hold for a mean reversion bounce, didnt get it today
Great to see you added “Earnings Play” section in you watch list.
If you can master Earning play set ups, reaction with volume particularly Breakout out of long base and making ATH or 52 wk high then I dont think you need to know anything else to make money in the stock market.
Thank you, Josh!