Market still making higher lows and looking to break the recent high, Strength in Quality stocks and Leaders helping the move in the market, patience and money management is important in this business.. In any case we haven’t changed our outlook, and here is an update on some of the instruments that we have in our portfolios that we support.
AMZN; Still have room to see higher targets of 1771 and pushing the limits a bit; 1787. Notice: we are using moon phases.
NFLX, reports next week (see chart below). Being conservative and emphasizing the word conservative, ideally should see 444 and we must be out at that level.
FB should go for 208/209 (See Chart Below); some aggressive extensions to 212 are probable.
GOOGL: M-line at 1090 for support check the monthly chart
we will move minimum-immediate target for $GOOGL to 1280
and we will focus on 1509.41 for the completion of two counts: One on OPL where this 1509 area is 4.236 retrace and the other is what I present here where is 2.618 retrace on AltC layout.
Oil/USO: Holding the Wolverine line (shown in chart below), but looking more like the completion of the 5th of C at 1.382 retrace. Needs below 13 to confirm that will test buyable supports at 11.96, we know how oil behaves so until highs are cleared a deep pullback is possible, support starts at 11.96 and ends at 9.5.
AMZN and GOOGL stochastics still have room for higher, while NFLX is already at the highs, and any gap up, will be sold very soon if not immediately.
Check our last report from one of our portfolio (LINK)
Seeking Options Team – RQLAB Please email us if you want to be part of this group at [email protected]
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
Stock Market started the week on the low side on increasing Tariff pressure, however we are still finding some great buy spots and here are some of the things are looking in our Portfolio.
Indexes stochastic monthly, of all them TNA looks compromised at the highs, but still could go higher and test previous highs on Stoch, $NDX is showing a positive signal on the monthly stochastics with $SPX.
Monthly Volatility is good enough to start a move up on indexes, daily inverted charts are oversold enough to justify a consistent move up across the board.
2C-p = 29.2 (35.9 previous) 6/29/2018 close.
Bottom spotter has made a positive turn
Yield Curve: As long as it says normal, I’m not worried. When it changes to “flat”, then we should start paying attention.
A good start to June with some new money, but it was a Friday. Futures were higher from the open of trade with great Jobs report, holding a fairly tight range into the actual jobs report. The President tweeted a couple of hours ahead of the release that he was looking forward to the numbers, and that was interpreted as an indication they would be good. Leaving all that Fun aside, lets look at market mechanics.
OI and our EW indicator are indicating a significant divergence into next week, so it is our duty to monitor sentiment versus Open Interest in order to make correct decisions.
First: The spike we had been expecting, concluded last week as we can observe on the attached weekly chart elaborated by Joel Withun. This same weekly chart is now indicating downside at least until June 15th, Put Call Ration, is at 2.064 so projection is valid based on our experience. Opposing to this is the fact that expiration for this Week is positive when compared to EOW1, up in a moderate fashion.
Helping to the fact that the expiration for this week is moderately pointing higher are the inverted volatility charts, weekly and monthly are certainly supportive of more upside; volatility is not excessively bullish but supportive.
Second: Cycles are close to be overbought with probabilities for a high tomorrow Monday June 4th; I think we have a combination of factors that could give us a high tomorrow, the deterioration could start tomorrow after mid of the session or on Tuesday. Please pay attention to supports before assuming correction is starting.
EW Analysis:
We have advised you for the past five or six weeks to be long $QQQ,but now the medium term chart could point to a top at the 1.382 extension at 175.50
and the subdivisions should point lower to 173.84
with a conservative average at 174.45, aggressive traders could do well by looking for 176.83. Important supports at 170.
For $SPX,
our approach has not changed micro subdivisions point to 2751/2755. The micro subdivisions we are using as alternative 2, perfectly allow the 2751/2755 range with extensions to the upside probable. For your safety we are not going recommend to short the market aggressively excepting SPX breaks under 2713 with follow through under 2702.
Weekly and Monthly Charts are still showing some strength..
Most $QQQ names in our portfolios have room to go higher, between 3 and 6% before major targets met.
Sometimes market is clear, sometimes market is not, sometimes you catch all the ride, sometimes you are late to the party… remain calm and focused, stay disciplined and do your own homework. Have we all a nice trading week
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
May is almost over and with this one of the strongest months for the $QQQ sector; June is certainly a month when technology companies under perform and not all holdings recover well during July, some companies like $MSFT or $CSCO tend to outperform or track pretty well the performance of $QQQ/$XLK for July, so those companies should be on your buy list if we see the expected weakness into June.
$AMD and $TSLA tend to do well during June, but we would put our money on $AMD rather than on $TSLA.
Part of the Seeking Options Strategies, we have long term trade system used to the comes and goes of the markets, so pullbacks like today, when market is down .80% at 2699 certainly don’t affect our perspectives, especially when we anticipated this retrace and we did advise you to buy long term calls and only to add solid companies to your portfolios. So again if you followed recommendations and you allocated capital on solid companies you should be doing well and by this time your collateral should be helping you.
We did recommend $SOXL components, like $MU, $INTC and $NVDA, and we still would expect $NVDA catches up and provide us the 270 conservative target we been talking about; with ideal target at 291.
Coming to $SPX —were we advised you to stay defensive— this morning we came back to the 2690 support on the micro
—we can see the red line— and on the medium term ABC
same support at 2690 area with ideal target at 2757 and if for a reason breaks above 2757 ideally will hit 2820.
The $QQQ, have serious pressure to the downside on many time frames, but two setups still point to 174/177, Medium term support for QQQ is 164.
Trade of the Week will be another winner this week with 54.55% profit bringing our portfolio profit to 57% YTD
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
