After bank earnings last week, we’re starting to get into the gist of earnings season. Technology names are slowly beginning to report this week, including NFLX, ASML, and TSLA.
Last week was a volatile and short week, as the S&P 500 (/ES) bled into a new zone.
On Monday, the /ES created a new low at $4,355.
It started to trend up and form a higher low structure. Until the market breaks this structure, we want to focus on this trendline that formed on Monday.
In the video above, we’ll lay out new liquidity levels, identify the latest market trendline, and draw out zones using our favorite indicators.
Here is our focused list:
NVDA — On Monday, NVDA closed at point of control (POC) at $219. If NVDA can’t get through $219, look to short the stock down to the key zone from $209 to $206. Our next targets are below from $200 to $195. If NVDA pops at $219, look for it to fill the gap from $226 to $230. Pay attention to how tech earnings go.
SHOP — Could rally to POC at $605. Look to short SHOP when it reaches POC. If it breaks above $605, look for a pop to $630.
GOOGL — If GOOGL breaks its premarket low at $2,520, it could drop to the inflection point at $2,490. This level could become a nice dip buy opportunity to POC at $2,600.
Stay Focused!
