Monthly Candles are best viewed after the first week of trading to get a bit more perspective on sentiment and patterns forming. In the following charts discussed in my Live Trading Room (captured this Monday around noon), I find more area for downward correction before the bull rally is really tested. That is not to say bounces won’t happen – and they almost always do at the 10W – but these bounces are not likely so bid that prior highs are taken out. In short, here are my Price Targets Short for the following key indices and key momentum stocks we track and trade every day in my Live Trading Room – with high probability they get hit this month.
Catch up on my Main Themes and Market Timing Calls Here:
- Macro Backdrop: About That Rate Spike
- Update to Macro Backdrop: About That Rate Spike – Now up 38 Basis Points
- Market Thoughts Last Thursday: ATTN: We Have a Two-Way Market!
Other than some weak bounces in the coming days, and weeks, I suspect we have made The Turn: Short Every Rally! Samantha LaDuc Oct 4, 2018
Selling Begets Selling
We have elevated Volatility, Bond and Emerging Market selling, not to mention FAANGs, Tech and Semis rolling over. Let’s imagine for a moment that the selling continues. Here’s where I see it going This Month and potentially beyond …
This list is not exhaustive but by any means as I do this all day long in my room, but it is testament to how good Technical Analysis can be to aid with trade entries/exits. We shall start here with a quick watchlist and I will follow up in a later post:
QQQ: BELOW $183 TRIGGERED SHORT WITH $180, 175 THEN 170 to 168 PTs:
IWM TRIGGERED SHORT BELOW $169 WITH 164.50, 161, 158 PTs.
AMZN TRIGGERED SHORT $2025 TO $1904, 1867 TO 1766/1750 PTs.
GOOGL TRIGGERED SHORT $1225 TO 1150, 1130, 1113 TO 1064 PTs
NFLX TRIGGERED SHORT $386 TO $348 THEN $300 PTs.
AAPL TRIGGERED SHORT AT $228 TO $218, 207 MAYBE EVEN 195 WITH EPS.
FB TRIGGERED SHORT $173 TO 160 TO 150/148 PTs.
MU TRIGGERED SHORT $43.50 TO 47 THEN $39 TO 37.50 ON WAY TO $33 PTs
NVDA TRIGGERED SHORT AT $290 TO 275, 265, 253 TO $248 BEFORE $235/330.
AMD TRIGGERED SHORT $33 TO 31.50 THEN 27.30, 25.60 NOW 24 THEN 21 PTs.
BABA TRIGGERED $186 SHORT TO 175 TO 166, 158, 148 NOW 135 IF NOT 122 PTs.
TSLA TRIGGERED SHORT $313 TO 273 THEN 252, 243 … MUST > $240 OR WATERFALL LIKELY.
USDJPY rolling over keeps me bearish as does lower ZIV and higher VIX:
Big Picture, unless Tech, Semi and China stabilizes/recovers, we could be looking at a Big Correction:
I will discuss these Intermarket Analysis charts in next Newsletter.
Careful out there and give those shorts some ROOM!!
Samantha
Thanks for reading and please consider joining me in the LIVE Trading Room where we work through Value and Momentum trade ideas and set ups every trading day.
At LaDucTrading, Samantha LaDuc leads the analysis, education and trading services. She analyzes price patterns and inter-market relationships across stocks, commodities, currencies and interest rates; develops macro investment themes to identify tactical trading opportunities; and employs strategic technical analysis to deliver high conviction stock, sector and market calls. Through LIVE portfolio-tracking, across multiple time-frames, we offer real-time Trade Alerts via SMS/email that frame the Thesis, Triggers, Time Frames, Trade Set-ups and Option Tactics. Samantha excels in chart pattern recognition, volatility insight with some big-picture macro perspective thrown in.
More Macro: @SamanthaLaDuc Macro-to-Micro: @LaDucTrading
