Chapters
00:00 Intro: Nick Is Back
01:15 Ben: Bitcoin Stalls at the 9-Week
03:17 Nick: The QQQs' 61.8 Hold
05:20 GP: The 334 Level and the Wide Range
08:56 Inverse Head and Shoulders Everywhere
10:58 GP: Why 334 Matters During Opex
12:30 GP: Netflix Is Still the Barometer
13:31 Nick: XBI and Roblox Symmetry
15:34 Bear Market Shorts That Worked
16:34 When Does Bear Turn Bull?
17:05 Drawing Trend Lines: Lows vs Volume
25:15 Nick: Amazon's Setup
28:21 Nick: Google's Defined Risk
29:24 Ben: Google's Risk-Reward
30:25 DGI, ON and Nvidia
31:58 GP: GFS, Roblox and Robinhood as New Leaders
36:03 Ben: Robinhood's Fills
37:34 Ben: Morgan Stanley and Schwab
38:06 Building a Focus List
40:40 Lotto Trades and the Mental P&L
43:45 Cleveland-Cliffs
46:21 The XLE vs Oil
49:56 Solar and the TAN
53:38 Boeing
55:11 Ben: Twilio's Risk-Reward
57:13 GP: Solar Price-to-Sales
59:15 Moderna, Square and PayPal
1:01:47 Natural Gas
1:03:19 Rates: TNX and the 2-Year
1:07:33 Hollow Candles
1:08:35 Roku
1:10:40 One Chart Each
1:12:41 Wrap-Up
Market Hours #38 went out live on Sunday, September 11, with Ben, GP and Nick, who was back from vacation. Nick said the QQQs held their 61.8 retracement off a McClellan oversold reading. GP said the bulls need to clear 334 during Opex week and that Netflix is still the barometer. The three also debated how to draw trend lines, liked Amazon and Google with defined risk, and covered new leaders like Roblox and Robinhood, the XLE versus oil, solar and the TAN, Twilio, rates and their one chart each.
Nick's setups, levels and trades
Nick said "we had a decent pull back and like the QQQs and the spies which was to kind of be expected," and "we did a 50 retracement we undershot that and held the like the 61.8." Given "where mcclellan was sitting and how oversold you were at," a bounce was due, and "we closed above the 50 today and it was on above average volume." "Until it breaks this like 334 335 level i mean it's it's more slop" and chop. On trend lines, "the low that i'm going to be connecting all my trend lines to is likely going to that low that we put in last week." He's held the XBI since May, along with LABU "since like the five dollar range," and "the symmetry on these two are just mind-boggling," XBI and Roblox. Amazon "held the 50-day and the 50 retracement there at 125 126," and "if you're looking to start building a position i think i think now is the time to get involved," with 122 as the risk and "that 170 area" as the target. Google is "in this 105 to like 120 range," and "105 is your number because after 105 you're out." In solar, "i just tried to like build into like more of a bigger tan position." His one chart is PGNY.
Ben's setups, levels and trades
Ben said Bitcoin is "kind of stalling out," and "we still gotta clear that 21 weekly ema." "For me it's 25 whatever that that i posted that's the bigger level and when that gets taken out it's it's partying." On Google versus Amazon, "if i'm a short-term trader i actually like this risk to reward better than amazon," with "only got six points to the downside" on Google. "I'm insanely bullish on nvidia here," because "this looks like a face ripper setting up to me." On Robinhood, "i got worse fills on my trades," but "the chart looks great honestly" and it "interests me here around the 10 11 buck range." "Morgan Stanley face ripper looks like incoming," and "even schwab looks like a face ripper is coming." On Twilio, "against 66 this is a buy and if a break 66 get out," and the 88.90 level "is a big level that it needs to recover from." His last pick is SentinelOne: "it's ready to go i'm pounding the table."
GP's setups, levels and trades
GP said he needs the market "to clear that 334 level," because "the last opex is where we rejected the 334 level" after "a lot of call calendars were sold." Netflix "was one of the first charts to bottom in this market," and "that's that's still my bull market barometer across the board," stuck "between 215 and 252." When he draws trend lines, "i tend to use volume with it too," starting from big days like "the june 17th" on the XBI, because "i want to see people stepping in there." GFS, Roblox and HOOD "are part of the ipo stocks right that i i think are new leaders." Robinhood "hasn't gone anywhere since january but there's a lot of accumulation happening here." "I'm a manual scanner i do it every night," narrowing hundreds of charts "to usually like maybe four or five." On energy, "i'm not sure i understand the divergence of why xle continues to be stronger while oil trends lower," so "i'm just staying away from it." On the TAN, "this is a trend change in an entire sector," and "once it gets over that 1 28 level this gets to be a really smooth ride." On rates, the TNX "had a 10x move and now it's gapped to the upside," and "it's probably nearing its kind of final stages."
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