Daily Watchlist | Wednesday June 23, 2021
Good Morning! We had a pretty easy Mon/Tue by catching that bottom and riding it back to our 424 level. 2 consecutive days of dp buys @ 420.57-420.58 level (use this as support level for next couple of sessions). Now we need to be cautious as the head & shoulders on the daily is valid below 424.38. SPY needs to get above this and hold for it to be invalidated. The NQ (tech) reached breakout yesterday (broke out of wedge) but then so far is making a doji today and has a potential 30min head & shoulders (void above 14300). Many stocks in breakout such as AAPL, TSLA within the last 24H so we should watch those but continue to scalp/daytrade only until SPY and NQ have invalidated their bearish patterns. 422.23 continues to be key for SPY. 14205 is key for NQ (breakout fakeout below this). Some FOMC members are speaking throughout the day today though not as important as Powell.
This Week's Calendar:
(all events listed ET)
Tuesday 6/22:
2:00PM: Testimony by Jerome Powell re. "The Federal Reserve's Response to Coronavirus" at U.S. House of Representatives
Wednesday 6/23:
9:45AM: PMI Numbers
Thursday 6/24:
8:30AM: Continuing Jobless Claims, GDP (QoQ revision), and additional reports
Today's Trade Plan:
Prior Cash Session: high: 424.00 / low: 420.08
Reminder: It looks like maybe SPY is going to form a head & shoulders on the daily, with 6/1 being the left shoulder, and 6/15 being the head and then a neckline down at 416.60.
SPY Orderflow level to watch is $422.23 - continues to remain key level!
Spy DP Levels: 424.38, 422.23, 419.99, 417.81, 417.29, 415.79, 415.09, 412.91, 412.31, 411.58, 408.43, 406.61, 405.47, 400.61, 399.94, 396.60, 395.98, 394.04, 393.62, 392.65, 390.59, 389.98, 387.66, 386.98 386.11, 385.08, 384.13, 383.78, 379.77, 378.85, 377.66, 376.42, 375.58, 372.04, 371.33
Plan:
Long - If above : 424.38 targets 425.46, 426.31
Balance / Scalp Long Between : 422.23 targets 423.32, 424.38
Balance / Scalp Short Between : 422.23 targets 420.57, 419.99 418.94, 417.81, 415.92
Short - If below : 413.75 targets 412.91, 411.58, 410.67, 408.43, 406.61, 405.47, 400.61
SPY Chart Update:
DAILY Chart:
Remain mindful of daily H&S formation.
Today's Watchlist:
AAPL - on watch at 134.19 level - great profits here yesterday using levels given!!
(On the daily chart shared 6/21, AAPL setting up for $159.54)
Long - Above $134.19 -> 134.51, 135.13, 136.60, 137.07
Short - Below $133.23 -> 131.31, 130.52, 130.03, 129.08, 128.69, 127.89, 126.90
NFLX - on watch! Huge gap fill can be targeted above $516, then breakout above $530. Squeezes on both daily and weekly chart.
Long - Above $506.88 -> 511.76, 513.55, 521, 530, 534.07
Short - Below $506.05 -> 498.56, 497.11, 492.17, 487.34
TSLA - ON watch above $624 level... again
On the daily chart shared 6/21, TSLA setting up for $655.
Long - Above $624.66 -> 628.94, 631.39, 635.59, 637, 647.77
Short - Below $622.59 -> 615.88, 609.34, 604.80, 597.86, 586.83, 563.46, 546.98
NVDA - retrace confirmed during yesterdays bounce, now on watch above 760 for continuation higher
Long - Above $759.75, 764.20, 772.93, 775, 779.80, 787.32, 806.19
Short - Below $749.82 -> 741.09, 730.49, 723.6, 719.89, 711.70, 700.97, 693.50, 689.65, 676.14
Today's Watchlist:
(Remaining Tickers)
SNAP - looking for push over 64 today - on watch w/ IHS forming on daily (want above $64 for continuation)
Long - Above: $63.27 -> 64.12, 64.78, 65.85, 67.79 72.01, 73.59
Short - Below: $62.94 -> 62.65, 62.06, 61.77, 60.22, 59.93
AMZN - on watch
Long - Above $3507 -> 3523.78, 3552.25, 3554, 3562.79, 3601.81
Short - Below $3495.10 -> 3466.43, 3450, 3434, 3427.76, 3411.98, 3398.74
AMD - on watch
Levels: 80.79, 81.80, 82.45, 82.91, 83.78, 84.98, 85.77, 86.43, 88.30, 89.20
WISH - back for the memes 💎
Levels: 10.54, 12.02, 12.99, 14.47, 15, 15.44, 16.92, 17.20, 18.22, 23.17
AMC - on watch above 60 💎
Levels: 44.69, 50, 54.59, 59.29, 63.83, 65.38, 69.03, 70.03, 72.62, 76.23, 🚀100
GME - on watch 💎
Levels: 208.3, 220, 226.24, 248.02, 257.38, 260.75, 268.80, 275.11, 289.61, 294, 299.93
Crypto Update:
EthereumMax - 🚀🚀🚀
Watching same levels here - if you are still asking whether now is a good time to enter - the answer is YES!
Levels: 5890, 7186, 9157, 1000, 1400, 1700, 2000, 2600, 3600, 4000, 4400