While we have a bearish approach, we consider that probabilities for more downside are unlikely while market holds 2700 level, looking the following chart ,
as long as 2700 area holds, we will be looking to add our Bullish plays on $SPY or $SPX via short term calls June or even July, once we break above 2740 with a stop at 2720.
Having said that we should still look at some counts that need to be negated to continue with our Bullish Play.
$ES_F As it stands right now from EW Respective, Weekly Momentum is Bearish as last week might have signaled the high, we need to view market as consolidating for next 2 weeks. Daily Market looks more Bullish constructive with Daily Low is in.
Key Resistance area for each index the 78.6% Fib Ret. and the 100% APP of the April 2- April 18 advance. This Should be the Maximum upside if the index are making a complex correction (Potential W-X-Y) as anticipated. Each Index reached or came within just a few ports of these major resistance zones last week. Any continued upside should be monitored yet we are also watching volume.
Key Resistance area on $ES_F : 2744-2761 on $SPX, 2746-2761
Note: To confirm any Bearish play we need to break 2700 and close below 2670
Please review the following chart for more details.. also if you like those charts and updated they are constantly provided in chat room for as low as 15 dollars.. check this link for options
Also here is the weekly chart:
$CMMSA, Rebound Plays could be Comcast, watch key levels and potential play to 38 area
We will give more detailed trade setups and targets, please check us our Chat Room..
SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK
We are looking to start the Week by reviewing the $SPX chart and pick up from where we left on our last video and market update, on April 30, we sent out a report talking about next levels and targets that the $SPX can actually reach.. you can view this report here. As it stands right now we need the market to show us that it can actually holds 2705 area on $SPX and staying above 2690 for higher prices.
In the mean time we have placed our $SPX weekly Credit spread as part of the Trade of The Week series, which has been working really well playing it with the daily trend of the market.
To recap on our positions,
Major highlights stocks in this report:
$AAPL, Support levels and targets towards 195-207, we still like it to the long side – owning stocks or selling put credits spreads will be idea.
$MU, $INTC, $NVDA those are the leader stocks we are looking to keep playing to the long side even if the market is set to pull back, they can work as hedge if the market decides to keep staying sideways to up.
$NFLX is ripe for another leg higher
We will give more detailed trade setups and targets, please check us our Chat Room..
SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK
We are looking to start the day by reviewing the $SPX chart and pick up from where we left on our last video and market update, by start looking at $SPX and where it held the 2650 area we talked in the previous video, we have completed 4/5 Wave structure, now we are in process to complete Count 5, for a possible target of 2684 (Conservative Traders can Take Profits) however we can get to 2695 Today, which give us a healthy mechanical structure from technical analysis giving us a bullish setup to project higher.. however we do have some internals that show a top is near by May 11, and booking some profits in this big move is highly advised. – Again if you are not sure, use a percentage profit from invested capital vs possible reward, protect your initial investment by moving your stop to Brake Even or locking some profits.
As we head toward next week, we should get ready to load again on the long side as long as we hold above 2642.5, for new high of 2720-2740. – we are currently breaking out of the wedge, chart will be posted below – as we might be at the end of the 3 month long correction in the market.
To recap on our positions,
On May 8, 2018: We Places a long potions in $SPY and $DIA calls and both Trades were posted, as it reaches to count 5 we will give instructions on trailing our trades.
$ANET we reported on the last video, that we are liking it to the long side and that we planning to place trades to the long side, today we are planning to take profits as it has already met targets. We will likely replace our stocks with calls for higher prices of 263-266.
$NVDA, has extended more than what was projected and not giving anyone a chance to own it ahead of earning. Earning is coming up Tomorrow, we will be holding into earning at this point risking 1% of the account, with possible target of 258-275 area, in any case, $NVDA we like the story and we will be buying on pullbacks.
#BITCOIN, has shown some support at these levels with potential of 20%+ to the upside, we are looking for next target of 12K+ – again price structure is not very clean but it is showing a 3 wave up or ABC.
$AAPL, still strong, we are holding in our core portfolio with short term and long term charts both showing constructive to the upside to targets of 234-248
We will give more detailed trade setups and targets, please check us our Chat Room..
Daily on $SPY did Close above 50MA – is trying to stay firm above the major moving average, we will navigate further on next levels
Seeking Options Team
SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK
The markets posted solid gains to start the week off yesterday. While they closed off of their highs, it was a great continuation of the rally that began late last week and extended into this week, we are currently looking at the Elliote Wave Counts that we described in the following Video
Last week’s impressive employment numbers sent stocks soaring on Friday. And Apple’s continued rally on better than expected earnings and word that Warren Buffett bet heavily on Apple shares helped ignite a tech rally, we still think $AAPL has higher prices, look for today’s video will be sent out shortly. We think $AAPL could see prices beyond 220 dollars
Are we getting close to end the three month long correction in the stock market, if so we could be setup to break out of the wedge, we are trading it mechanically. On $SPX right now we completed 4/5 and right now we looking for wave 5 around 2684-2693. For another entry setup to get us to 2710, which would still give us another entry for higher prices, again wait for the the updated video and charts..
We took $ANET long positions and we have been trailing our longs
“Probability is not a mere computation of odds on the dice or more complicated variants; it is the acceptance of the lack of certainty in our knowledge and the development of methods for dealing with our ignorance.” “The consequences are not trivial: It means that rational thinking has little, very little, to do with risk avoidance. Much of what rational thinking seems to do is rationalize one’s actions by fitting some logic to them.”
SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK
Carlos discussed on the posted video earlier this morning, the $SPX levels and where we could be heading today.
So far it has played exactly how we predicted, we are in processes of completing wave 3 and then a pullback is required to complete the 1-5 wave move (for those who follow EW method) before making any bullish counts, so far its just a corrective bounce, and currently we closed back in the wedge, as we couldn’t close above 50MA. On the same token in the chat room Warren in our Futures room has placed a short trade on the $ES_F and possible target 2639, trades were posted via shorting $ES_F or playing the $SPY put trades.
Now we looking at the $QQQs on the other hand have been holding pretty solid up move, and making some good new highs on the intraday basis. They are better set for any bullish play, and we can thank our leaders for that up move in the Nasdaq, Leaders like $AMZN, $FB, $AAPL, $NVDA etc.
Assumption on $QQQ if wave C hold, we can project to 166.93 as a target with having 163.99 as the support, due to the seasonality for a strong up move to even 171.
$FB long trade almost getting ready for another long play once we clear that 174 support holds and go higher to 186 target.
$AMZN, has been holding very good after reporting its ER, and we can potentially look for 1721 target, or perhaps 1678 to be on the conservative side 6% return on the investment.
$ANET reported earnings and its one of the market leaders, and we think it has a nice move up, holding the current level and as it complete the 5 wave up, we could see 1108% win rate if we take the Delta 40 long calls after its reporting its earning. We will place this trade in the room.
$CPA also reporting this week, one of our favorite companies. Its currently working the 5 up and it will likely completed over here, and ready for an up move, so we will place based on the lows and target of 123-126 possible upside targets – always better to wait after earning..
One of the Major movers for the $QQQ’s, $NVDA is going to report this week, and we predict that it can get sold after it reports, as the patter of the Elliot Wave already set for a drop, as a standard move. After the initial down reaction, we could project it makes a new high after with potential targets roughly around 260 to 280+, in Summary don’t short it, wait for the entry around 227, if we don’t get it that’s basically our long targets.
Last week we did $BABA and we projected 190 as a price target, and we bought the 190 calls and currently it’s trading 197.
$TNA is currently getting closer to our target and we have been lightening up since Friday, as at the moment ROI on capital invested is not warranting holding more, although we can extend to 73-75 as potential target – we would like to see a pull back to 70 before joining the long again. With return of 3-4%.
$AAPL, has been a leader and its getting closer to the 1Trillion dollar company, right now its pretty much extended
SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK