Chapters
00:00 Intro: Ben's SPY Divergences
01:32 Nick: The Solars at the Low End
03:12 Nick: The SPY's 370 Double Bottom
04:46 GP: The Roku Bottom Pattern
06:18 GP: Roku and Square Lead the Character Shift
08:51 GP: Multiple Compression
11:23 Other Growth Reversals
17:04 Apple and Microsoft
17:36 Ben: The XLE's Divergence
20:08 Nick: EGO, NEM and FNV
21:39 Nick: The GLD Above 173
22:42 GP: Gold's Bollinger Bands
26:17 GP: Rates and Growth
27:49 Emerging Markets, KWEB and HYG
28:19 GP: AMD's Buyback
31:54 ARK's Downtrend
32:28 GP: Amazon and Netflix Monthlies
35:32 Solars and Palo Alto
38:37 Cybersecurity Long Term
40:38 Ben: Bitcoin and DOT
43:40 Nick: Gold Above 1840
45:12 How Will It Open?
47:43 Workhorse, Lucid and the EV Makers
52:19 GM's Gap Down
53:54 Bitcoin and Russia
55:28 GP: The NQ's Hourly Inverse Head and Shoulders
56:32 Charting Platforms
59:11 Wrap-Up
Market Hours #9 went out live on Sunday, February 27, with Ben, Nick and GP after a volatile week that ended in a strong rally. Ben saw positive divergences forming on the SPY, while GP said Roku and Square, the first growth names to break down, are now showing a character shift. Nick is sitting tight in his gold miners as long as the GLD holds 173 to 174. The three also covered the solars, gold's Bollinger bands, AMD's buyback, Amazon's monthly, Snap and Bill.com, Bitcoin and DOT, and EV makers.
Nick's setups, levels and trades
Nick said "fslr closing back above 70. had kind of a nice tail low enph kind of held." On the SPY, "you're using this 370 area right here basically it's kind of like a double bottom pivot." He is "long some names," mostly gold miners, and "the three big ones i have on right now are are ego nem and fnv." "As long as gold kind of hangs up around or gld hangs up kind of like around above 173 174 i'm gonna continue to sit tight," and a close near here would give "a three week tight." On the futures, "as long as gold holds about 1840 i'm i will remain in the camp that i'm in."
Ben's setups, levels and trades
Ben said on the SPY, "i kind of see these divergences," and "we may have a positive divergence and if i follow that downtrend on down in rsi we might be getting an rsi breakout." The XLE made "a new high on the xle in february," and "we made a new lower low there on both the price and the rsi." On Bitcoin, "nothing's changed," with the pivot it needs to take out still overhead, and "i still am buying polka dot though." "Bitcoin's threatening to become buck coin again but we'll see."
GP's setups, levels and trades
GP said "everything that's broken down on earnings has broken down more," but Roku and Square broke down "before the markets even peaked," so "if these continue to go down while the market's still going down then nothing's changed there's no character shift." On Roku, "i'm still targeting the 180," with "the base like 177 to 200." "I've been talking about multiple compressions since last january," and Square's "20 day hasn't broken since november," so "that to me is a trend change." On gold, the "bollinger bands or the or the standard deviation whatever you want to call it is not expanding out," and "you want to see them both open up wide to see that move." "We had higher rates in 2018 and 2019." He read AMD's new buyback as Lisa Su saying the stock is undervalued. On Amazon's monthly, after contraction "now you should see expansion." Snap and Bill.com are "where i think buyers show up." On the NQ, "it's essentially an hourly inverse head and shoulders."
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