From the weekend newsletter:
For next week here’s what I will be watching:
$SPY
Shorts only below 392.34. I think trying to short above this level may result in premium crush, unless you are sizing into a big short that is for several weeks or months out. Optimal spot for shorts (shorter term) would be 403.75-406.61 area
This week so far we have seen exactly that, chop between 393.63 and 400.67, just more basing in preparation for a big move. Today SPY 0.00%↑ formed a doji, again re-iterating the indecision in the move.
We saw some good moves I had called on AMD 0.00%↑, NFLX 0.00%↑ , AAPL 0.00%↑ & BABA 0.00%↑
On AMD we had given a short signal and 99.23 LIS for a move to 89.03 and we sold down into $92 before a pop. AMD now appears to be setting up a H&S - more on that later.
Next we have NFLX which we mentioned the formation of a H&S and the 331-335 short target area and we sold down nicely into $323
AAPL 0.00%↑ resistance at 160.49 was identified beforehand, with a nice sell today down to 156.
And I mentioned BABA 0.00%↑ appeared ready for a move to $93 and $100, and we hit those today as well.
BABA did extraordinarily well and hit both targets right away. In the Discord our 100C for MAY 19 went from 2, to almost 9.
For tomorrow I will be watching the following levels:
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