AdvancedPlays

AdvancedPlays

SNOW is sitting right on the previous all time low from 2022 after a brief move below. SNOW also has a nice downtrend that could lead to a big breakout above. SNOW has been deciding what it wants to do at 112 since early August and it should end up with a decent move when it chooses. A longer term upside target would be the gap fill all the way up around 133,...

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TSLA is setting up for a triple top here on the 15m which could lead to a hard rejection. We're also sitting right on the major downtrend line from ATH in 2021. TSLA already tried to breakout above this trendline earlier in the year, but failed miserably. I'm thinking we may have a repeat here, but this 226 area is my line in the sand. I think we'll end up with a...

AdvancedPlays

QQQ is testing a trendline that has held since late August now. Small rejection so far, we may bounce shortly and end up breaking out above. If not, I'd expect a big failure here. I think this will determine direction for the next few days at least. If bears can't hold it here, there's not much stopping us from squeezing back up to 486. I still favor downside for...

AdvancedPlays

This is a zoomed in 15m chart, but these levels go back starting in May. That's where the trendline began that we broke below and could retest soon. In addition to that trendline, we would also have the 555 level that should be near the area where we retest the trendline if it happens. SPY still has a ways to go and one important level to break before it gets...

AdvancedPlays

Nice move back up today after the morning drop for NVDA and all of NQ. NVDA may come all the way back up to 118-119 to fill the gap from last week. I'd expect a failure there and will be looking for puts targeting the trendline below along with 110-109.

AdvancedPlays

This is a shorter term bear flag on TSLA, different from my previous idea with a longer term pattern. I still think it's unclear whether TSLA can break above that major trendline from ATH in 2021 for good or not. This bear flag would suggest we may see downside in the shorter term, but we'll have to see what happens after CPI. Tomorrow should be interesting.

06:59

AdvancedPlays

A review of this week's action so far and my thoughts on direction moving forward after CPI tomorrow. I'm seeing a lot of stocks right on the edge of some critical support/resistance levels so I'm expecting a bigger move once we break this week's range.

AdvancedPlays

I've obviously been bearish lately and most of my ideas are for shorting. I don't do this on purpose, it's just what I see right now. Here's a bullish angle, ES may have bottomed there at 5400 while creating a right shoulder before a bigger leg up. It's also possible we see the real right shoulder be put in later on, because it would be a lot cleaner if the...

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BTC had a nice recovery today along with the rest of the market, but like many things, it is back to critical resistance and I expect a failure here. This 57.7k level was previous support from early August and this is the first retest since breaking below. Final downside target would be around 50k and then we can see what happens from there. If it does break to...

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TSLA had another big fakeout above the major trendline from 2021 again last week and that sets the stage for a continued drop if it can't quickly reclaim. We also have a shorter term uptrend that as well that may lead to a flush below. I think this is a good spot to enter puts and target $200 and potentially even lower with a stop back above 220-222.

AdvancedPlays

Along with ES/SPY, NQ is also retesting a previous low from last week. We also have a shorter term ascending channel on NQ that may end up breaking down. A lot of indexes and stocks are hitting some key resistance areas from last week so I think it's a good time to enter puts targeting last Friday's low.

AdvancedPlays

Nice relief bounce for bulls today, but I expect it to be short lived. SPY is coming back into previous lows around $547. I think this is a great spot to enter puts, risk/reward is tight and it has a ways to fall. First target would be $542.50, if that breaks I'd be watching Friday's lows for another potential exit target.

11:15

AdvancedPlays

The mag 7 is an important part of analyzing the S&P and Nasdaq due to the weight they pull. The mag 7 is threating to break a major uptrend and eventually the April lows like many others. It's critical for bulls to hold the line here or we're about to have a bloody September and October.

08:08

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Semiconductors don't seem to be driving the market higher any longer, it's been a while since that has been the case. We've seen extreme weakness out of this sector after being the market leader for so long. This is the most downside we've seen yet this year, but there are still critical levels on SOXX and NVDA that need to be broken until bears can claim victory.

03:16

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I don't trade crypto, but I do trade COIN and I use BTC for analysis. Here's my thoughts moving forward. I think BTC is looking rough, but until it breaks below 50k and remains below, it's probably not a good idea to get super bearish just yet.

04:30

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VX is finally showing some sustained strength for the first time this year. It has had a tendency to fail recently so I'll want to see a bit more confirmation before I believe it. VVX has some recent strength, but we'll have to wait and see if it can actually breakout and sustain this time or if i t will be another short lived move up.

06:08

AdvancedPlays

NQ is getting close to the August and April low now, that is a must hold for bulls in my opinion and that will be my top watch for NQ going forward. It may never hit and if it doesn't I have levels for that scenario as well. I remain bearish, but if bulls can hold 18,000 and the April low I think we may have a decent sized leg back up. I don't expect a big leg...

08:47

AdvancedPlays

Here's my thoughts on the S&P 500 moving into the new week. I go over some bullish and bearish scenarios along with a longer term outlook. The levels I discuss are the most important things to me for determining the shorter term action ahead. Things are looking quite bearish after last week, but we've seen that before. I'll be watching the August and April lows closely.