Watchlist May 21st 2019

SPY - nice steady grind overnight but we’ve still got a decent amount of overhead resistance at this level including the point of control in our volume profile and several moving averages on the daily. Keeping an eye on this symmetrical triangle here but I feel like we’d need some solid positive news to see a break to the upside.

Screen Shot 2019-05-21 at 7.20.42 AM.png

TSLA - I did manage to grab a few puts yesterday on Tesla this thing is a bad news magnet right now. Morgan Stanley just released a worst-case price target of $10 on TSLA so that doesn’t help. There’s nothing but air under $180.

TSLA Weekly chart

TSLA Weekly chart

TSLA 15m chart

TSLA 15m chart

NFLX - As always I’ll be watching NFLX for scalps this morning. I’d like to see a dip to at least $348.88 but ideally $345.69 to get long calls or a push to $356.34 to get long puts. Support and resistance levels are on the chart. Also note that we may have a down-trend line forming (magenta) so watch out for respect to that possible trend line. (Takes 3 tests to confirm a trend)

30 minute chart shows possible down-trend forming

30 minute chart shows possible down-trend forming

5min chart shows s/r detail

5min chart shows s/r detail

Looks like we’re up pretty good on low volume here, I’m going to be watching for a dip at open.