We cover a stock like Nvidia (NVDA) so often for a couple of important reasons. It’s a stock in play: This means the market is paying close attention to this stock. Whether that means investors are buying up shares or traders are trading calls/puts on the name. Either way, there is liquidity and someone to buy and sell to. There are plenty of setups: If there’s a setup, then there is some reason for us to take a trade on the stock. If there were no good setups, we wouldn’t be bringing up the stock so often. Because it’s a stock in play, however, these setups come far more frequently. The stoc ..read more

The damage of the FOMC and Jerome Powell’s announcement has been done and it sent the market crashing with some of the major indexes falling over 1% from the day’s highs. However, this doesn’t mean there aren’t any trade setups we should be looking for. Just the opposite. This may have just triggered another trend days following the announcement. Our trade setup today is on a stock we have talked about in the recent past and one that can really make some large moves when a trend is in place. However, when trading options on Tesla (TSLA), you need to be careful. Trading TSLA is most definitely ..read more

Today is a special day in the market, some traders even refer to it as the “Super Bowl” of trading sessions. Today is the day of another FOMC meeting where the Fed is set to make their latest announcement on what it plans to do in regards to interest rates. They refer to it as the Super Bowl because of the wild moves you sometimes get after Fed Chair Powell speaks. These can be up days or these announcements can send the market spiraling to the depths of Davie Jones’ locker, it’s difficult to tell. We as retail traders have absolutely no control of where the market goes on days like today, so ..read more

Today, the market opened up pretty weak ahead of this week’s FOMC meeting. This weakness should validate the trade we have set for today with Lam Research (LRCX). For this trade, we are looking at a particular zone, instead of a level, between 640-650. This zone has acted as both resistance and support in the past, but given this market, we expect it to once again act as resistance. LRCX has nasty breakdown last week and a bit of a rally to kick off this week, which has us looking for a short if the price moves back into zone. If price moves through and holds above the zone exit the trade as a ..read more

Last week, we highlighted Netflix (NFLX) as a potential short play, and sure enough, the downside played out just as we pointed out in this trade breakdown. After the key support level we were watching right around 397 broke down, we expect there to be a bit more downside should the overall market continue to look weak, as well. Should this play out as we illustrated in our last video, and like we are watching again in this further breakdown of NFLX, we could see prices retreat all the way back down to the 375 area. One very important thing to note as far as extraneous forces in the market, FO ..read more

To end the week, we are looking at a stock that has been weak the past three days. Obviously this sets up a short opportunity on Netflix (NFLX) after a slide that has brought us down to a key support level of right around 397. The clear and obvious trade here would be if the stock fails to hold this support level, then we could prepare to go short in expectation that price could then see 375 relatively quickly. However, there is one other possibility for those who fancy themselves scalp traders. A scalp trade is a trade you make when you know the move is going to be very short lived. Meaning ..read more

General Electric (GE) is not a stock we often look at, but due to the setup it’s presenting us, it could be a trade worth watching as we draw near to the end of this week’s trading session. On this trade, like many of the trade setups we look at, there are two key levels to be on the lookout for. The first is near 110, which is acting as our support for this setup and the second, 116 or our resistance level. The trades off these levels are simple. If we are able to breakthrough this resistance level, then we should see a push higher. On the other hand, if we were to break down this suppor ..read more

Very often stocks we have looked at in the past make their way back on to our radars several days or weeks later due to the levels we keyed in on coming back into play. Today, we have a similar situation with United Parcel Service (UPS). Rewinding it back a couple weeks when we first looked at this stock, the level we were watching were the 166 and 172 levels. Now, fast forward to today, we are trading well below this lower level after the stock broke down through it in a massively bearish move. However, the reason we are looking at it today is because it is approaching a new level of sup ..read more

Like all our favorite trades that come with a straight forward setup, the chart for Procter & Gamble (PG), is setting up in a way that aligns with our trading style. That means, nothing fancy and nothing ambiguous, just an old fashioned test of resistance. This resistance level comes at around 155, where price is just slightly under right now. As you can see by the PG chart, this level has come in to play several times as support turned resistance and so on. However, now, price is coming up from under this level to once again test the strength of its resistance side of things. Normally, wh ..read more

Block (SQ), formerly known as Square, has had quite a lackluster year with largely sideways trading or continued declines. Most recently, we have seen more declines, falling all the way down to a support level of around 55. On Friday, price finally broke that support level, giving traders signs of a move lower to what could end up being a new 52-week low. For those looking for short opportunities, it would seem this chart favors the bears, however, those looking to go short here should not jump in with both feet. If the overall market can push a bit, it could take SQ with it to retest that 55 ..read more