Some Things Watching...
Credit Suisse news added fuel to the banking dumpster fire today yet tech stocks continued to hang tough. It’s a tug of war between financials, industrials, energy etc pulling things down and tech trying to hold higher. We might have seen a change of character this afternoon? Things can change quickly here as breadth continues to be poor so staying flexible, keeping my name count low, and staying liquid personally.
QQQ Weekly- Continuing to hold the Weekly 20SMA and potentially bullish engulfing with a strong close to the week. If the bulls can continue to hang tough/hold higher and brush off this continuous bad news its a good sign. Have alerts set on GOOG AMZN MSFT AAPL etc as tells and all are hanging tough.
QQQ 195 MIN- Lower highs since the top but we have either reversed or based and reversed on every attempt higher. The last two days we based but pushed higher out of the base. A potential change of character?
SPY-Losing rising channel yet still holding a higher low vs December. Held the gap area today and put in a higher low on the 65 Min but LOTS of short term overhead. Specifically, the 200SMA at 393. I don’t think there is going to be too much progress in tech if SPY were to reject hard at the 200SMA so watching that reaction.
NVDA- Held the 20EMA, gapped higher, and put in a higher low on the 10EMA today. Looking for follow through on this 243 area.
AMD Weekly- Former go to name for me that is changing its character. Set up well on the 65 Min today. Keeping it on my watchlist again.
AAPL- Setting under this 153.40/50ish level. AAPL really leads the market to me.
TSLA- Came within two points of the head and shoulders target on the downside, supported off the 50SMA, backing and filling that move today. Seeing if can hold a higher lower and set this 184/185 area (183.80 yest high) and push back through the 10EMA to start.
TSLA 65 Min- Two scenarios below. Closed back above the 5 day (light blue) and the 65 Min 20 EMA (purple). Drew the horizontal level watching around 184 with 176 as the downside pivot.
META- Exploding off the 20EMA. Looking for a pullback/higher low into the 5 day/hourly 20EMA. Have not traded this stock in a long time but back in focus.
MELI- Weekly consolidating under 1280. Held the gap fill today and turning back through 10EMA/1200 level could close 1215 gap to start, through there and 1240.
FSLR- Held this highlighted level on the lows. Building hourly structure under 210ish area if look. 207.34 today’s high.
IOT- 10EMA caught up and setting 20.22 pivot.
SQSP- Moving averages caught up. Yesterday’s high 27.19.
DUOL-10EMA caught up and setting under 125
