Market Watchlist 10/11 - 10/15

Hello everyone and welcome to another weekly watchlist by True Trade. Last week was another favorable one, the levels were respected giving us nice plays throughout the week. I do still expect volatility to be present , even with vix starting to cool off. If buyers hold higher on an early week pullback , we could be gunning for a move back towards the highs, but if they fail and can't hold higher , look out below .


If you want to see last week's results and key zoes , you can check them out here :


Let's get into the list for this week 😯


(ALL TIME IS BASED ON PST)



(for all trades below I mention level hold, stop loss, etc, I'm using daily or hourly closes for stop losses or holds, you can trade the levels on an intraday basis !)



1. S&P 500 ($SPY)

$SPY - DAILY UNTIL 10/8


Spy did have a pretty large range for the first half last week , staying between 427-436 . We gapped over 436 and broke towards the upside, but failed to close back over the 440 breakdown candle. Will we reject back under 436 , or stat to base over 436 looking for a test back into 445.


KEY LEVELS:

444.92 - Over the 440 breakdown candle , the next consolidation and breakdown occurred off 445. We did already run a test of this breakdown zone

439.85 - The breakdown candle , on a daily and hourly basis this will be very crucial , we have yet to recapture this level on a daily close , and until we can i will remain cautious on upside continuation, looking for short trades under the zone.We tried to hold over on 10/7 , but failed into close , as we didn't even get an upside gap fill. If we can get back over and hold , maybe we gradually setup for a 445 retest. a few weeks ago , where we sat for 3 days and rejected back to a new low. WIll be interesting to see how we act again if we revisit here. Thee ar a few upside zones to keep an eye on before here , including 441.4 (open 9/24 and resistance 10/7) , 442.64 (close 9/27) and 443.91 (close 9/24).

436.02 - This will be the most crucial intraday pivot zone for me. We gapped over this level on 10/7, but prior to that we had been holding under for 5 trading days. Even a few weeks ago 436 was a crucial pivot , and I expect it to remain so this upcoming week. Since the gap up on 10/7 , we haven't ran a retest of this zone , so I do expect it to come early in the week , and after that we will have a better idea of if we will hold to head up , or break and head back towards 429.

429.27 - Where we held majority of the trading day on 10/6 and got our momentum for this most recent run up. If we get back under 436, it is possible we could run a retest of this 429 level, would also keep a lookout for 431.5 on a down move , as that was a intraday pivot on 10/6 as well



2. APPLE ($AAPL)

$AAPL - DAILY UNTIL 10/8

Apple had a nice rally along with the other tech names , and is starting to form a potential inverse head and shoulder pattern if buyers hold mid 141. But at the same time we ran a retest of the 144.5 sell zone seen with a double sell day, let's see if buyers hold on the dip or the flush us back under.


KEY LEVELS:

144.45 - Upside resistance , had a 3 day base here before flushing 2 weeks ago , we ran a retest to end last week ,and seller have stepped in , but nothing to forceful to the downside yet. Get back over here and a squeeze towards the gap at 145.37 is likely.

141.76 - This level down into 141.5 is the zone , if buyers hold, can result in a possible inverse head and shoulders pattern , which generally leads to a break to the upside. Back under , and we run a test back towards 140. 141.76 as also the open of the breakdown candle to start last week at 10/4 , we did close back over on 10/6 , another reason to keep a close eye on a retest 👀.

139.47 - The breakup candle open , from 10/6 , where we cleared back over 141.76. If we do see a move back towards the downside , an intraday bounce should be likely at mid 139, and then around 138 which has yet to break.



3. NVIDIA ($NVDA)

$NVDA - DAILY UNTIL 10/8


Similar to SPY , NVDA also has a inverse h/s pattern on watch if buyers hold 205. We revisited the breakdown candle off 212 and did see selling into the end of the week .


KEY LEVELS:

212.14 - The breakdown candle resistance , is likely to break on the next rsstees, if we base higher. If we clear look for a quick move towards 216-17.

209.71 - This will act as an intraday pivot , we have had a lot of basing around 210 on the hourly time frame , this zone has been pivot for a large part of the last few trading week, holding over can get momentum built for a 212 break, while basing under can build momentum for a 205 break. Will have a close eye around this zone for sure to give hints of which way w are building up to break.

205.17 - Where the hold is needed if we want to make that inverse h/s pattern. Also a former breakdown level which we recaptured on 10/6. SInce the break back over we have not yet rested this level , so my key pivot for the week , over long , under short back to the ground 😯

199.91 - Was a brakuop candle , we flushed it to start the week on 10/4 , but quickly recaptured and held it the following 2 trading day giving us a $12+ bounce. If we get back under 205 , this is where i have the most likely reactive support to be , 200-201 are, getting under her opens the gates for 190.


4. ADVANCED MICRO DEVICES INC ($AMD)

$AMD - DAILY UNTIL 10/8


Amd rallied nicely off 100 to end the week , but did find itself struggling along the 107 breakdown zone. On a pullback, will be watching 102.9 pivot to see what looks more likely for the upcoming week ad that was an intraday pivot last week.


KEY LEVELS:

108.88 - Next upside breakdown candle if we clear that 107.

106.84 -The breakdown candle , sellers positioned here strongly , if we clear move back towards 109 , while if we stay under , downside is more favorable.

102.9 - This zone was a multiday pivot the last 2 trading weeks, and will be an intraday pivot for me again this week , as when we were under sellers controlled us down towards 100 , but when we broke on 10/6, we had a nice upside squeeze.

100.45 - The breakup candle that started this quick upside rally , 100 has been a very favorable buy location for AMD over the last few weeks, so will be looking again for buy potential here. If we do break , watch out down below , ad we can have a quick flush towards 97.


5. SQUARE ($SQ)

$SQ - DAILY UNTIL 10/8


Very similar setup to AAPL , in the case if we hold 235.5 we could be in store for a potential inverse head and shoulder pattern. We did revisit the initial breakdown candle on SQ at 252 , and sellers did not disappoint , but now we see if the will follow thru, or if buyers will step in again for a release to the upside.


KEY LEVELS:

252.21 - The breakdown candle , we already revisited and rejected to end last week , keep a close here as selles are strongly positioned here , getting back over likely results in a squeeze to gap at 258

245.7 - A pivot for next week also , was a breakdown candle , where we gapped over on 10/7 , ad held. We broke back under on 10/8 , and as a result sellers took control. Holding over or under can help us decide which way we will likely break , holding over can give momentum to break 252, while holding under helps show sellers are in control.

235.61 - If buyers hold here , that could start the formation of a inverse H/S. This was also a reversal spot , we had a breakdown candle which cleared on 10/6. We have had an hourly consolidation along 235 on the 5th , so let's see if buyers can hold on early next week . If we get back under the doors open to revisit the bottom part of the range at 224.

231.97 - Not to sure how we will act down here yet , but this candle had some reversal continuation to the upside for it/ it was a breakup candle. Would favor the 235 holding for calls , but if we have a quick spike down , while holding 235.6 on an hourly , can be a sign that buyers are building again. Undr here nxt would be 226.25 then 223.79



OTHERS: $SNOW - Despite the market pullback snow has been holding relatively nicely , 325 is loaded with sellers as 290 is loaded with buyers. We saw a nice bounce back from the 290 last week back towards 325 into a rejection. Now if we can hold on a bullback into 307 , SNOW can start basing again to look for the 325 break and explode into the end of the year.

$TWLO - We tried to clear the breakdown bar at 326 a few times to eend last week , but both days we failed and closed under. If we can start holding , look out for 332. If we can't back towards 313 we go.




 

That's it for this week's list, if you have any questions don't hesitate to contact us or drop them below. These are just a few stocks im keeping my eye on this week, and as always, do your own due diligence and realize that their will always be risks associated with trading !


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