Chapters
00:00 Intro
01:04 The QQQs' 21 Days Above the 200-Day
02:06 GP: Short-Term Put Buyers
06:14 Nick: Low Liquidity
08:19 Ben: Semis and Nvidia's Divergence
10:53 Retesting the Key Level
12:26 Ben: Slop and Chop
14:29 GP: The XBI's Shakeout
15:32 Amazon and Google
16:34 GP: Dr. Copper
18:10 Ben: Bitcoin's Range and the DXY
19:42 GP: Natural Gas
20:44 The TNX
21:15 Nick: The QQQs' Cup and Handle
22:46 Netflix Lags the Rally
24:19 The XLE and Crude Oil
25:51 Wingstop and China
27:54 Retail Earnings Week
30:04 Costco, Amazon and the VIX
32:16 Gold, Meta and Apple
33:49 DoorDash and Tesla's Investor Day
34:20 Small Caps and Airbnb
36:27 Viewer Picks: MJ, GE, Cisco and IBM
39:05 MercadoLibre
40:38 eBay vs. PayPal
42:14 Insight, Comfort Systems and Semis
46:00 Retail Earnings to Watch
47:06 More Viewer Picks
49:43 Testing the Expansion Ranges
50:43 Energy Names and Roku
52:15 Ben: Trading Five Charts
52:48 Nick: How He Sets Up His Watch Lists
54:51 Global-e
55:57 Ben: Bitcoin's Monthly Doji
57:32 The QQQs' Monthly Candle
59:07 What to Watch: Tesla, Amazon and Microsoft
1:02:49 Boeing and Wrap-Up
Market Hours #56 went out live on Sunday, February 26, with Ben, Nick and GP, as the QQQs sat on the 200-day. GP blamed short-term put buyers for stalling the rally, Nick warned that low liquidity could speed up a break, and Ben laid out Nvidia's negative divergence and the QQQs' three inside weeks. The hosts also covered the XBI, copper, Bitcoin's range, the DXY, natural gas and the watch lists they trade from.
Nick's setups, levels and trades
Nick said "if the Bears continue to grab the ball from the Bulls and the Bulls don't start to show up in what seems like a reasonable manner," the people "who've been buying kind of the sideways bottom" could cause "accelerated downward momentum." "There's a lack of liquidity in general," and "some of these bars are like 5 000 shares and 5 000 Shares are causing a two two three point move." On the QQQs, "I kind of like the look of the daily like I kind of feel like it's sort of cup and handling a little bit," "wedging... right into" the 200-day and 50-day. "I'm not subscribing to the to the full-on breakdown yet," and "280 will get me nervous." On IWM, "when this pivot High gets taken out I'll be looking to get pretty heavy." He keeps "a master list" in TradeStation with about "a thousand names on it," a "focus list that I try to keep like under... two or three hundred," and "two screens designated to like basically like my top 25."
Ben's setups, levels and trades
Ben said "Nvidia is going to be at the mercy of what the rest of the semiconductors ultimately do," and "when I look at the daily I mean we've got this big nasty negative Divergence already set up and it already failed off the RSI." "I almost sold my entire position Friday but I didn't," and "I'm kind of in the wait and see camp." On the QQQs, "we're in Three inside weeks," and "we did not break that breakout candles low last week with all the negative pressure." "I'm open to a bullish thesis and I'm open to crashing through the 200," and "I think we're probably going to see some slop and some chop for a few days which might be a good trading range." For Bitcoin, "above 25 it's risk on" and below 21 it's risk off. The DXY "kind of looks like it can go a little bit higher to the 200 day which is around 106.4," which "wouldn't be great for your equities." "I've only been watching five charts and I've been trading five charts that's the Spy the QQQs Apple Tesla and Nvidia," and "it has worked very well for me for the past... six weeks or so." "There's Bitcoin potential doji on the monthly," and "I would probably be cautious." "There's the things I want to pay attention to this week is what... the retail earnings do and how Bitcoin finishes the month."
GP's setups, levels and trades
GP said "it's quite disappointing to see the Bears being able to take over," and "every time we look bullish he comes and buys puts," pointing to a billionaire's short-dated puts. "If you're looking at the moving averages they're not aligned on any of the indices so there's a lot of chop." "I have many names kind of moving potentially breaking out like mid-march early April." "It's not broken until it's broken," and the 200-day "is an area of retest." The XBI "did break the weekly 50 SMA... by 40 cents," and "quite often you'll see things break and then reverse higher the next week." Copper "went from 420 to 397," and "this is the health of the economy in my opinion it still looks decent." On natural gas, "I personally think it's going lower," and "I got out of my boil trade took a little loss."
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