$GOOG is looking very coiled up after retesting the weekly 50sma and is now currently under the daily 200sma. non-stop bleed since may of this year week after week. i believe this is a short term bottom at least for the next 2-3 weeks and the move up will catch most by surprise. targeting at least a retest of $350+ on this next move.
lap #2: i've started a long position on $GOOG via $345 calls exp 10/9. i believe $GOOG is bottoming out in the short term, especially when looking at the weekly chart, where it is finding support at the 50sma, a level that has been holding up since mid 2025. since the high of $400 this year in may, $GOOG has been downtrending ever since and we're likely at the end of the line with this week's candle. i expect a decent bounce for the next 2 weeks before (possibly) rolling over again. looking at a $350+ target for this lap.
lap #1: i've started a long position on $RDDT via $155 calls exp 10/9. i believe $RDDT is bottoming out at its long term trend line with most timeframes oversold, gearing for a upsize move after this consolidation. daily 200sma still sitting at $175, weekly 50sma at $177.
$GOOG is looking very coiled up after retesting the weekly 50sma and is now currently under the daily 200sma. non-stop bleed since may of this year week after week. i believe this is a short term bottom at least for the next 2-3 weeks and the move up will catch most by surprise. targeting at least a retest of $350+ on this next move.
$ORCL was my number one pick for my lap 1; however, it seems like everyone has caught on and call premium is quite skewed compared to puts. not sure how the market will react with such imbalance going into earnings tomorrow. for better r/r, i chose $RDDT.
$META is back to retesting its resistance trend line set since 1 year ago and so far it's been finding support at the $540 mark and coiling. what happens the next time it retests $540 or back at this line? it's tough to say. but right now, it seems like chances are higher to head back down towards the $540 area once again.
why i'm bullish on $RDDT at least in the short term: there's currently not a lot of discounts right now in the market, and $RDDT being one of the most important components in this ai age is still being overlooked. majors such as $SPY $QQQ and even the $MAGS all seem indecisive moving forward so r/r is high. $RDDT is now retesting an upward trend line since ipo and should at least bounce, even if it's currently trading in a bear market. upside target $170-180.
lap #1: i've started a long position on $RDDT via $155 calls exp 10/9. i believe $RDDT is bottoming out at its long term trend line with most timeframes oversold, gearing for a upsize move after this consolidation. daily 200sma still sitting at $175, weekly 50sma at $177.
$BTC rallied back up to the weekly 50sma but has shown for three weeks it is unable to breach it convincingly; therefore, the most logical path is a retest of the 200sma around the $65k range once again for further consolidation before finding strength for the next leg up.
$MU retesting resistance of $1000 since breach from highs of $1250. psychological whole number level area to monitor. could go up a bit higher but ultimately, according to daily, should fall below the 100sma this time, especially with the 50 curling down and test the 200 sma.
$QQQ is weaker than most realize: the 100sma keeps climbing up and now almost crossing over the 50 and we're currently on trend line resistance. likely scenario is a break of 50/100 and go towards the 200sma, signaling a retest of july $660 lows before making the next decision.
$ORCL is something i find rather interesting going into earnings this thursday after hours. weekly reclaim of 200 and coiling, daily support at the 50. could show some chop/weakness in the next few trading sessions, but post earnings could be similar to $MSFT earnings move.
$ADBE is also releasing earnings this week. looking at the charts and i'm just dumbfounded, because i could not figure out any sort of pattern/support/resistance this mess is going through. if i had to answer, i would say down due to rejection of the 50 weekly average.
$ORCL is something i find rather interesting going into earnings this thursday after hours. weekly reclaim of 200 and coiling, daily support at the 50. could show some chop/weakness in the next few trading sessions, but post earnings could be similar to $MSFT earnings move.