Traders,
Let’s review my top ideas for the week. Of course, the market environment has shifted dramatically, favoring intraday moves rather than swing trades. As I have mentioned over the previous several weeks, that is where my focus will continue until the market structure shifts.
So, let’s review my top move-to-move ideas for the week ahead. With a lot of economic data, such as CPI, PPI, and jobless claims, coming out this week, significant emphasis is again on momentum trading versus swing trading.
Long Scalps in Tesla: Some nice relief in consumer discretionary, tech, and the overall market on Friday. Suppose QQQs and discretionary can make some ground above Friday’s high toward their declining 5-day MA. In that case, I’d be focused on TSLA as one avenue for long momo scalps, specifically targeting higher low entries or consolidation breakouts intraday. I’ll avoid if we’re holding below Friday’s high or displaying notable relative weakness—similar thoughts in NVDA and PLTR.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Pops to Short in SUNE: I’d like to see a push back into supply near $.45 – $.50 and sharp fail to get short versus the HOD for more unwind. Historically a dilutive and toxic name. However, if the stock reclaims $.40s and bases, the idea is void as it might become a potential liquidity trap candidate.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Relief Rally in NBIS: Beaten down AI name, almost 50% off its 52-week highs. Leaning toward long momentum here if we get some relief in the sector and overall market. Specifically, I’d be looking for a breakout above Thursday – Friday’s high, trailing against the LOD or breakout level. Alternatively, if we experience a gap higher, I’d be looking for a higher low entry or Friday’s high to become support in the short term.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Momentum Shorts in Bitcoin (MSTR / IBIT): Looking at IBIT, previous support near $52 is acting as newfound resistance. If pops continue to face selling pressure, I’ll lean short. For MSTR, it’s a similar story, as $300 – $310 is now becoming major resistance. As long as the lower high holds on a higher timeframe, I’ll look for pops and failed follow-through near this area to lean short intraday for momentum moves.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Failed Follow-Through in PSTV: Great trader on Thursday and Friday. If this pops back toward $1.8 – $2 and stuffs hard, I’d lean short versus the HOD for a move back toward Friday’s low. Alternatively, if it reclaims its multi-day VWAP and bases, it will be on watch for a potential squeeze out into the high $2s.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Reversion in XPEV: Lastly, I’m stalking XPEV for a potential reversion opportunity in the coming days. Ideally, this has further gaps and extensions to the upside, setting up an A+ mean reversion opportunity. However, if we get any negative headlines or profit-taking in the China basket, I’d lean short on a FRD setup.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.