AdvancedPlays

AdvancedPlays

DXY will be an important watch moving forward along with TNX. DXY had been weakening for a while but looks ready to come roaring back. This will put a lot of pressure on stocks and other things such as the Yen. Bank of Japan will have to intervene again eventually if this is a real sell off.

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We got a nice volatility spike today and more pressure from the ever rising treasury yields. We coukd see a higher VIX spike soon if it doesn't get shut down at resistance shortly above. I typically prefer to use VX instead of VIX, but VIZ can be good sometimes. People say you can't use TA on VIX and I disagree. However, TA on VX is typically better than on VIX....

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This goes against my current thoughts on the market, I have short bias for the near term, but this is an interesting chart. TSLA forming a bull flag, but also threatening to drop below major trendline support. I like this chart.

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TNX has a short term bull flag and had a big gain today. Looks like it is ready to breakout and head for trendline resistance above. If that trendline gives, things actually get really scary.

08:27

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Today was pretty wild, NQ sold off 300 points from the high, but did bounce some into close along with NVDA. Last night things were looking pretty bullish with the NVDA hype, but things changed early on. I ended up trying one long on SPY and got stopped out within minutes. I chose to sit on the sidelines the rest of the day because I didn't like the conditions.

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Wanted to get this out there because I've been pretty bullish lately. Today that has changed after the market has changed rate cut expectations once again. TNX is flying as a result. This is a huge warning sign for tech stocks. Godspeed.

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It may be tough to find entries today, I like NQ for a retest of a premarket high.

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NVDA announced a 10:1 stock split and another beat. The split is not far away, I expect major FOMO buying. Will be looking for an entry on a retest of its ascending wedge.

07:03

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Had a decent day today thanks to COIN, but made some mistakes. Happy with the green day overall. Should be an interesting finish of the week. I would expect BTC and COIN to rally with NVDA, but there's not much life at the moment.

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Silver failed hard today, had a small short term position get wrecked. Still don't think it's over, but that pennant break the downside is rough. I'll be watching for a retest of the major trend line it broke for another long on it.

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GME looks ready to explode. Please play responsibly and understand the risk you are taking if you buy options on this thing.

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AMZN has been in a strong up trend since bottoming with everything else in April. It did retest it's ascending channel and failed which isn't great, but now we have a nice bull flag after several weeks of consolidation.

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RTY retested its major ascending channel it fell out of before the sell off last month. Currently has a short term bull flag that I could see it getting broken to the upside, but then it'll have to contend with that major trendline again and may lead to a failure. On top of that, it also forming an ascending wedge. Seems bearish to me.

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NVDA has a bearish ascending wedge, but has also shown extreme strength and has exceeded revenue expectations 18 quarters in a row. Not something you'd want to bet against, I'd stay bullish above the $925 area, but if it falls below that'll be an ascending wedge break and a key support level break. Can be a good opportunity either way.

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AMD is coiling ahead of NVDA earnings. I see it as a bullish pattern, but it can break either way. I like playing AMD calls over NVDA if I want exposure to NVDA earnings, but I would only do it with small size. Could also be a good day trade tomorrow if we run up into close, don't have to hold overnight.

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Silver is still sustaining value after a big move up. It has stalled, but it looks like bullish consolidation to me. Currently forming a nice pennant that could lead to an explosive move in either direction, the chart says up is most likely.

12:44

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Lots of red today but not so bad really. Most of red was from unrealized gains on GME. Everything else wasn't bad and GME was a net $200 realized loss. I pulled a clown move at the close, sold my calls at the bottom and then aped into $80 worth of far OTM near the top. I stand to lose a total of about $280 on GME in this account for the week. Worth a shot IMO,...

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Interesting chart here with these two consecutive bull flag breakouts.