$BIDU 🐾
Get this over 100 for the PEOPLE. Fill the gap and reclaim the 21DMA, and it’s absolutely peak. Reminded us of the $BABA June low.
We’ll see what happens‼️
$AA
Metals, saw @MrsZ_Flow post this and had to look at it. Chart looks a BIT like a typical bullflag. Heatmap + crayon visuals BELOW ⬇️
Needs to hold 21DMA, so essentially 49 and some change to see upside to 53-55-57. Slower moving name, especially with long gamma dampening moves here.
Downside below that 21DMA is 48 and some change but there is a gap to fill there which can do/then bounce. If not, then 45-46ish.
Leaning bullish on a hold of the 21DMA‼️
Morning Psychology☕️:
Hypotheticals in trading are almost as bad as FOMO, chasing, or revenge trading. The human brain has this unique ability to interpret frequent thoughts as a reality, thus it will push you towards behaviors to affirm those thoughts.
If you're a smaller retail account, $1k, 5k, even $25k or $50k, you've had this feeling before. However, the harsh truth is, you were never going to catch $MRNA , no you weren't gonna get $WDAY two months ago. These are tickers and unique situations where only insiders and big fish were truly positioned to catch. You're not there YET. If you wanna know what it feels like to try and catch a 10,000+% move we can tell you exactly how, go to your local gas station and buy a lottery ticket because that's what it is.
Let us calm your mind. There's ~8,000 listed tickers on the NYSE, with a few hundred or so more depending on what your broker offers. Statistically speaking there are INFINITE possibilities in the market each day depending on your strategy. If you stick to what you know, respect your rules, and stay consistent, one day maybe you'll have the capital to actually be positioned to hit those lottery tickets.
Stop focusing on what WAS, pay full attention what IS, and one day it CAN be....
$SPX $SPY $QQQ
Index morning heatmaps ☕️ 👇
$SPX: Only ticker out of the 3 with the OS node above, let’s see if we can reach it. $7700 is the floor for today, major psych level. Below that $7685 and $7680 is a positive gamma stack that can catch us if we see further downside. However, the upside looks better- there is a lot of positive gamma nodes up top to pull us. $7715 is the first resistance to get through for more upside, then $7730 with a chance at OS node at $7740. Ideally want to see those nodes grow and further OTM nodes grow as we approach them for more upside.
$SPY: Currently stuck at the OS node ceiling at $769, some positive gamma above but need to break $770 for some real motion. $767 is the floor where we can see a bounce, below that we can see the largest negative gamma node at $764 which can either send us back up for a retest, or be an accelerator for more downside. Watching the ceiling to see if it breaks right now.
$QQQ: Ceiling at $720, essentially same tape. Above that we can see some mega motion with those upside positive gamma nodes pulling us. Under $718 is a fat air pocket to $714.
Overall leaning bullish for the day. One thing to note when the indexes aren’t showing much, especially since we had $NVDA earnings yesterday, is to keep an eye on $NVDA relative strength. As long as $220 holds, more upside is warranted. With the ceiling on $SPY and $QQQ it makes it hard to read core, but $SPX upper nodes + $NVDA bullish on the day warrants upside.
$MRVL
Update:
Upside targets achieved. Currently sitting in between 240 and 250.
Break and hold 245 and you can see 250. Above 250 there are targets at 255, 260 and 265 near term.
Lose 240 and you can find support at 235, 225 and 220.
If you were paying attention, 240 offered another solid 5pt bounce off the positive gamma stack.
Happy trading!
$SPX 🪓
Chop chop chop on the indices, but man if you're a scalper you've gotta be loving this channel. Contracts at-the-money are almost required, but there is decent amounts to be made for those with the eye and patience.
Still wouldn't advise you to play this if you're not a scalper, and definitely not if you're just trying to chase you P&L....
$CVX 🛢️
Heatmap update + outlook 👇
$200 achieved for the first downside target. Could get a potential bounce here on the negative gamma floor, but the 21DMA is at 197.55, which we will probably see before a bounce. Under $195 more downside is possible, but that seems unlikely as oil is very much so still relevant.
Keeping an eye on the OS node at $215, before that there is resistance at $207.5. Keeping an eye on this name here to see if there a a bounce in the coming days.
Hypothetically this is true, feels a lot like they're telegraphing bullishness ahead of PCE data tomorrow.
Pair these possibilities with good earnings from $NVDA tomorrow, and my gosh we might be talking about a lockout....
$SPX $SPY $QQQ $IWM
CORE UPDATE🚨
Not a ton to see here this morning. Majority of the moves come from PCE, open, and the brief 10am news. The clearest maps here seem to be QQQ and IWM.
Lose the 710-709 area on QQQ and we will bleed.
Lose ~298 on IWM and we also bleed in small caps.
Most likely scenario for today is gonna be chop. PCE came in relatively flat, now we wait for our shepherd in NVDA to take us, somewhere....
$OKTA 🫰
BANG ON CYBERSECURITY, can’t really give a heatmap update but we mentioned it and warned you about the 9WMA on $CIBR and $BUG. We even posted $S and $ZS!
Congratulations to anyone that played CyberSecurity, WHAT A HERO SHOT TO THE MOON.
Heatmap + Visuals BELOW after the gap-up ⬇️
Hold 160 to grind to 170 or fall to 150 by the GEX Flip. Not much to update!
$AVGO 😈
We got the 350-355 SWEEP we were talking about as best RR to go long on Broadcom.
Heatmap + Updated Visuals BELOW ⬇️
Holding 350 saw us bounce towards the 360 area, upside targets to 365-370 and then we’ll start growing gamma at 380.
Below 350 is 340 and we said you don’t want it below 340.
Congratulations if you bottom sniped and stayed patient!
$VST 🙏
Lets get a HELL YES, in the chat below ‼️
Retested 140 and went under a bit after a HOD at 144, but held 140 which it needed to do.
Now 142 is the next hold and grind to get to 145 and over THAT is 150 and higher.
Below 140 is 138 and then 135 and previously mentioned down levels.
LETS GET MORE MOTION ON VISTRA. 🚨
$NVDA 💻
Well, PCE fell flat on its face, but that's okay because Jensen and the NVDA troops geared up to save the day. Typical good ol' fashioned sweep liquidity at the lows and rip from NVDA after they reported.
If NVDA can break that 220 PBZ sitting up above, there's no reason they don't run this thing straight to that 222.50 +GEX. You can see on the sweep of the lows it came down right into that super volatile -GEX and used it perfectly as a trampoline.
Keep your eyes on contracts at the open tomorrow. The IV crush might provide a solid opportunity into the EOW....
$S 🔐
CYBERSECURITY… We leaned bullish and got rewarded from $CRWD and $OKTA earnings. There is a chance that if $S does good with $RBRK, CyberSecurity can leg higher for these names.
Over 22 is the zone to be to attack 24-25. We held and bounced off the 19.5-20 zone. Downside targets below that is 18 and then 17, but we are WAY more bullish on this then bearish. Chart looks blessed.
Anyways, Heatmap + Visual Levels BELOW ⬇️
$ZS 💽
Back in it’s same zone as previously mentioned after it dropped heavy today to the 160’s and re-sent back up.
You want this over 180 to target 190 and then 200.
Below 175 is back to the 160’s. Let’s see if we can get the next leg HIGHER. Still leaning bullish if it can get over 180.