SPX
The following “micro” extensions are standard and apply for SPX (MPlink): -2.618 at 2798 followed by -2.764 at 2789.7 and -3.618 at 2741.4. These extensions are “within” an abc down that has standard extension at 2759.2 (Alt10link).
Upper support for the index is at 2835/2833; that is the line that needs to break to ignite acceleration down to lower extensions, without a break below this line, it is not correct to assume an over bearish stance.
Some stocks that might deeper pullbacks:
NVDA, immediate support is at 297, support off March lows is at 244. If a trade is done against support at 297, I would use a max stop loss at 289 (Alt10link).
OKTA, support is now at 151/147 a wide stop loss for initial positions could be 142 (MPlink).
PYPL, support is now at 109 (MPlink). A higher high above 147.59 will lead us to repurchase with stops at 138 in case we are wrong.
TWLO, consider TWLO could be included in the list of deeper pullbacks needed but in order to make such assumption needs to break below 180, contrary case, if it breaks out above 197 then 179 becomes stop loss and TWLO could make a move to 225/244 (Bigalowlink)
CDNS, for a major retrace to main support to 63/60 CDNS needs to break support at 78.56 followed by moves below 76, for now we have stops at 78 but will update stops to 75 (Bigalowlink).
AMD, support at 50.77, below this line and could see a deeper retrace to 46. I dont intend to trade much AMD, I have not had clear sell signals on it so is a core holding for now.
Stocks with higher targets pending
SHOP, pending target to 792/782, upper support 732, next support at 685 (MPlink).
AMZN, pending target at 2800, support for AMZN at 2310/2284, below 2284 then an abc corrective move will target 2189 area (Alt10link).
AAPL, pending target to 325/342, support at 301/299 (Alt10link).
BYND, special case
Ideal target for BYND was 148/149, but today hit an average target at 145.48, the current micro count suggests that for as long as 127.75 line holds could continue extending to 150 probably (MPlink). Personally, I do not think 127.75 is seen for now, so probably will trade upper supports at 131/129.
Will talk about $FB and $AMD later. Check us in room
Good Luck..
Seeking Options Team – RQLAB Please email us if you want to be part of this group at [email protected]
Again we will give more detailed trade setups and targets, please check us our Chat Room..as low as 17 dollars.. check this link for options
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
