Levels for Tomorrow on Various Stocks

Feb 27, 2022

Levels tomorrow for SPY, QQQ, NVDA, LCID, TSLA

It seems likely the market wants to continue with this bullish sentiment/pullback.
If you are like me, that is, if you a reclusive introvert with a huge anxiety disorder, then you are probably finding it difficult to reconcile the bullish push with the scary circumstances of the world. But let it be known that the market isn't in the business of making sense! I know I find it very difficult to be optimistic and really bullish on anything under these circumstances. My Chiahuahau and I sit on the couch, vibrating in anxiety as we watch the current events unfold, meanwhile the market is partying it up with its lambos and rocket emojis.

Anyway, to the point!
Here are some levels to watch on various stocks. These based on my math models. Keep in mind, my go to stocks are QQQ and SPY. I am including APPL and NVDA. I don't generally trade these often, so I have neglected keeping these models up-to-date and I wouldn't rely to heavily on their predictions, but just to give you a guestimate of where to be looking.

Let's start with SPY;

Apparent bull flag on the chart. It has already started breaking out of this bullflag (sorry for the bad trendlines, TradingView is being glitchy).
Its possible to see a gap up. I am hoping not, I hate these annoying gaps. But we will see.

Projected levels:
Open: 437 - 440 range (best guess 437.80)
High: 441-443 range
Low: 435 - 438 (if continuation of bullish sentiment, expect 438 or maybe a bit higher).

If we gap up and or open in the 440 range, highs likely to approach/slightly exceed 444.

Next QQQ



Same sitch. Bull flag with a start of a breakout.
Gap-up possible.

Possible open: 344 - 346 range
Possible high: 346-348
Possible low: 339 - 342

If we can open around 346 and maintain bullish sentiment, I would anticipate a high approaching 350.


NVDA



Same kind of deal. Bull flag however not a really convincing attempt at breaking out at this point.

For NVDA my next day calculations have traditionally been a little wonky, I generally depended on my adjusted levels, but I will share them anyway:

Open: OMIT (open data tends to be unreliable for NVDA)
High: 346 - 348
Low: 339-342

If we can open around 346 with good bullish sentiment, we can anticipate a high of 350 and above.

LCID



Similar ish setup to the bull flag. Not really liking that wicking we see.
Tomorrow is a catalyst day and LCID is on my playlist. Earnings to be released. LCID responds to earnings based on market sentiment (in my experience), so if we have a bullish sentiment in the market tomorrow, we likely will see a bullish continuation.

The one thing I LOVE about LCID, is it generally respects my calculated levels, both on the low and high side, REGARDLESS of sentiment. QQQ, SPY, NVDA and APPL will throw my high or low levels to the wolves if the sentiment is overwhelmingly bearish and bullish, and immediately shoot towards my levels in the direction it wants to go. Whereas LCID will respect both levels, regardless (generally speaking). Anyway, LCID levels tomorrow:

Open: Low 26 range, maybe 27 if market is looking to gap up and also in anticipation of the earnings.
High: In the higher 27 to mid 28 range assuming we open in 26 range. If there is a gap up and overwhelming bullish sentiment, projections are up to 29.
Low: 25 range.

As I said, LCID is on my watch list. Looking for it to test in the 25s and hold for a play to the long side.

AAPL



Very MEH set-up. I def wouldn't be playing this just based on the chart alone. But if you want, here are the levels I have calculated:

Open range: 164-165
High range: 166 - 167 (maybe a bit higher if the bullish sentiment continues)
Low range: 162-163

tsla


If you read my ideas, you will know, I hate TSLA because I have not been able to succssfully mathmatically model it.
As such, I have no projected levels.
Just based on the chart though, I anticipate some bullish start up to that yellow trend line. This would be doing that cup pattern it likes to do. Then option 1 is it gets rejected and falls (which it has done many times before) or it breaks out towards that ascending resistance and towards the 200 MA.

Below is an example of it doing exactly what its doing a couple of days ago.


This is kind of what I expect to see. But you know, its TSLA, so WTHFK.



My plays for tomorrow are going to be SPY, QQQ and LCID.
NVDA was a maybe, but I don't like how it hasn't made an attempt to breakout of that bull flag, so its pretty much off the table for now. I will keep my eye on it, if it tests my projected lows and holds, I may enter long.


Hope this is helpful!
Let me know if you like this kind of thing. It was kind of a lot to do all these cals and chart reviews, but if this is something that is interesting and/or helpful let me know and I can do it more often!

Enjoy the rest of your weekend and as always trade safe!

Also, leave your comments, questions and criticisms below. I love reading them!

NOT FINANIAL ADVICE.

Feb 27, 2022

Note

Realize I didn't disclose my bias,
I am overall bearish, short term bullish.

I think the market is looking to continue this bounce a bit longer before it re-enters its bearish downturn to make lower lows.

This is just my thinking! I could be wrong. But I am anticipating a drawn out bear market this year and if we see an abrupt regression back to bearishness this upcoming week, we are not going to be entering a well defined bear market. It would be a little too erratic and it wouldn't be a sustainable bear market, IMO.

These are just my thoughts, but as you know, the market does what it wants. So we will see!

Feb 28, 2022

Note

Just realized I goofed on NVDA,
Those 3s are acutally supposed to be 2s,
High: 246 - 248
Low: 239-242

Sorry!