SPY - Starting off the week strong with our analysis. Yesterday I said we were looking for more upside today on SPY, which unfortunately came mostly in premarket movement. SPY finished the day barely green and formed a failed 2U on the daily. I also want to point out that we came pretty close to my upper trendline on the daily chart. This information all leads me to believe we are gearing up to begin a swing lower soon on SPY within the next few weeks. For the rest of the week I will be watching to see if we get a hard test of that upper trendline. For tomorrow though, I have no real personal bias as we are at a level where we either move a leg up or a leg down so I remain neutral, however, playing what is in front of us, I am looking to see if we get some bearish movement tomorrow following the weak failed 2U green day we had today. Very important to see if we break todays high or low first tomorrow. My hot prediction is that we break both high and low of today during tomorrows session and then close red to form a bearish engulfing candle. This would give us our test of the upper trendline while creating a reason to start heading lower.
Watchlist:
NVDA - 2-1 Daily: Neutral
FDX- 3-1 Weekly: Slightly bearish
CAT- 2-1 Weekly: Neutral
DOCU: 2-1 Weekly: Neutral
Main Watch:
NVDA- Nothing special about this one. It is the only inside day setup to show up on my scanner. Looking to maybe test the daily FVG to the downside and target that 260 level. I will play either side, but mainly going to be playing setups with momentum towards how the overall market is moving
I will more so be focused on FDX as its weekly setup is still not in force, but for intraday trades I will be checking out SPY and NVDA
Main Watch results from my previous watchlist:
MRNA - (Status:) Winner (Personally Enter?) Yes
Was hoping for upside, but caught downside movement instead. I mentioned that we may see downside and that I would be open to playing it. We opened above the short trigger and broke it in the first few minutes of market open. MRNA dropped a peak of 3% on the day. Cons ran 73% from entry to peak of day. My personal gains were a little over 30% due to my personal trading rules. Cons peaked within 35 minutes of market open
Watchlist Stats For The Week:
1/1 on SPY predictions
1/1 on main watch play wins
Top winner: MRNA - 73%
Personal Stats:
2 wins and 1 loss on the week
Watchlist:
NVDA - 2-1 Daily: Neutral
FDX- 3-1 Weekly: Slightly bearish
CAT- 2-1 Weekly: Neutral
DOCU: 2-1 Weekly: Neutral
Main Watch:
NVDA- Nothing special about this one. It is the only inside day setup to show up on my scanner. Looking to maybe test the daily FVG to the downside and target that 260 level. I will play either side, but mainly going to be playing setups with momentum towards how the overall market is moving
I will more so be focused on FDX as its weekly setup is still not in force, but for intraday trades I will be checking out SPY and NVDA
Main Watch results from my previous watchlist:
MRNA - (Status:) Winner (Personally Enter?) Yes
Was hoping for upside, but caught downside movement instead. I mentioned that we may see downside and that I would be open to playing it. We opened above the short trigger and broke it in the first few minutes of market open. MRNA dropped a peak of 3% on the day. Cons ran 73% from entry to peak of day. My personal gains were a little over 30% due to my personal trading rules. Cons peaked within 35 minutes of market open
Watchlist Stats For The Week:
1/1 on SPY predictions
1/1 on main watch play wins
Top winner: MRNA - 73%
Personal Stats:
2 wins and 1 loss on the week
Comment:
Downside Target on NVDA (@260.00) hit, and surpassed! Beautiful Trade
Comment:
NVDA 260 Puts from a break of yesterday's LOD, which is always our entry on 2-1/3-1 setups, went from 3.10 to 5.43 for a bit over 75% gains. More comments on this play coming later with my watchlist for tomorrow