QQQ- decent close on Friday after a 360 washout we are still below 10/20 moving averages at 364.74 and 367.17 respectfully, in a no mans land of sorts would like to see close above moving averages on indices (IWM, SPY, QQQ) if we are going to have sector breakouts/ and if we stay below, think tactical shorting is in play
SPY – 440.72/ 443.04 levels i want to see CLOSE above for near term if we stay below, don’t expect many breakouts to be in favor
IWM- weaker than SPY/ QQQ, tells me spec money is somewhat conservative here , you saw AMC /GME get demolished, these are probably not done going down
ARKK- another very week indicator for me moving averages massively sloping down and we are just a little above the 39.50 200 day sma , cautious until things change here on these type of names—–see ARKK holdings **
VFS- think a blowoff coming here don’t know if it is 80-100-150 i want to see first red day in effect don’t want to see gap down get absorbed for higher, monitoring here, this is a tough trader as founder owns 99% of the outstanding shares on this SPAC , i want to see this name speed up and get red on the day would rather short down 5% vs up 20% if you understand what i am getting at
VRT- one of the stronger names on my board, going to keep monitoring vs 65
SPLK- nice earnings play going to be monitoring a pullback then higher lows nice new base here , looking vs 111
IONQ- gonna be watching vs 15 area for a 945-10am trend join, nice trader nice range here
CVNA- want to see how it does vs 42-44 area post 10am trend look
NVDA- i do believe smart investors took some gains into the past couple days here monster volume on the selling, i am going to look vs 464/470 area for a short here
AMD- looking vs 104 for a short, this is a structurally weak semiconductor name
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