NFLX daily Gap fill today and clean rejection off the 21EMA. I like NFLX short tomorrow with EMAs curling down and on the verge of crossing over. Will be watching for any weakness around 327.69 area. Can easily head back down to 319.5
NVDA 4hr Nice sell off today down to 270 on the head filling the gap. Seemed pretty impulsive setting up a nasty upper wick and bearish engulfing candle on the daily. I'm watching 269-270 as the line in the sand to hold for a move back up to 274-275 level. If we fail to hold 269 and the 21EMA I'm watching for a quick move down to 265.
8.7% implied move on earnings and sitting flat in AH. Both calls and puts will be smoked tomorrow. I’m going to try and capture the opening move with light size. Risky but the cons can move over 100% in seconds. Watching the key levels outlined in the chart.
COIN Nice hold and bounce off that 61.5 spot which was my previous breakout area mapped out in the last idea. Things to note we have another weekly candle close above the 9&21emas although the moving averages have not crossed yet. We are technically still bearish but setting up for a for big move. Earnings coming out next week I will be watching for that 61 area...
Playing devil's advocate here if we start to sell off and the bears begin to celebrate creating FOMO short. I am longer term bullish looking at this weekly chart even if we get a wick down to the 21ema at our favorite 395 area, however I will not hesitate to flip bearish if we get a candle close under the 21. Technical supports for my thesis: #1. The most...
SPY performing fairly strong. I notice a gap fill above, that I think will act as a magnet if this flag structure breaks out. PPI print could be the catalyst to really get it going.