NVDA announced a 10:1 stock split and another beat. The split is not far away, I expect major FOMO buying. Will be looking for an entry on a retest of its ascending wedge.
Had a decent day today thanks to COIN, but made some mistakes. Happy with the green day overall. Should be an interesting finish of the week. I would expect BTC and COIN to rally with NVDA, but there's not much life at the moment.
GME looks ready to explode. Please play responsibly and understand the risk you are taking if you buy options on this thing.
AMZN has been in a strong up trend since bottoming with everything else in April. It did retest it's ascending channel and failed which isn't great, but now we have a nice bull flag after several weeks of consolidation.
RTY retested its major ascending channel it fell out of before the sell off last month. Currently has a short term bull flag that I could see it getting broken to the upside, but then it'll have to contend with that major trendline again and may lead to a failure. On top of that, it also forming an ascending wedge. Seems bearish to me.
NVDA has a bearish ascending wedge, but has also shown extreme strength and has exceeded revenue expectations 18 quarters in a row. Not something you'd want to bet against, I'd stay bullish above the $925 area, but if it falls below that'll be an ascending wedge break and a key support level break. Can be a good opportunity either way.
AMD is coiling ahead of NVDA earnings. I see it as a bullish pattern, but it can break either way. I like playing AMD calls over NVDA if I want exposure to NVDA earnings, but I would only do it with small size. Could also be a good day trade tomorrow if we run up into close, don't have to hold overnight.
Silver is still sustaining value after a big move up. It has stalled, but it looks like bullish consolidation to me. Currently forming a nice pennant that could lead to an explosive move in either direction, the chart says up is most likely.
Lots of red today but not so bad really. Most of red was from unrealized gains on GME. Everything else wasn't bad and GME was a net $200 realized loss. I pulled a clown move at the close, sold my calls at the bottom and then aped into $80 worth of far OTM near the top. I stand to lose a total of about $280 on GME in this account for the week. Worth a shot IMO,...
Interesting chart here with these two consecutive bull flag breakouts.
GME lost it's gains from late yesterday, but is holding the $20 area for now. Here are some potential paths for today and tomorrow.
NQ has been chopping around for a few days, but has been holding the 18733 area on every retest. We moved significantly below that level this morning, but had a near instant V shaped recovery. This combined with VX weakness makes me bullish for the afternoon today and into tomorrow. No telling what happens after NVDA earnings, but money can be made on the run up...
ES has a shorter term bull flag breakout on the 15m. Things are looking good for a rally into close and into tomorrow leading up to NVDA earnings.
BTC has tested supply 4 times now, I expect it to break eventually. I like longs on a retest of supply if it breaks above. If it's going to trend down, we have demand below that could be a good long as well.
I've had a close eye on this Bull flag for COIN because of the BTC strength as of late. Finally go the breakout today with a huge green day and it's still going after hours. BTC finally broke supply and is poised to head for an ATH retest. Here are some potential areas of support and resistance along with some paths moving forward. Ideal setup would be to get a...
GME had a strong close after being beat down most of the day and for the last few days. It finally found some support around the original breakout area and looks poised for the next leg up. Made a typo, meant to say "lower high" instead of "lower higher"
Sorry for the audio issues with my mic, will fix it next time. I had high hopes for today and it delivered. I thought conditions were really good for calls and it played out early on, but I didn't expect such a weak close. I'm wondering if there may be trouble tomorrow, but staying bullish until VX breaks out or ES breaches critical support.
I think ES will see a nice bounce if it retest this trendline it just broke out above.