Watchlist May 17th 2019

SPY - Distinct rejection at the 61.8% retracement which also coincides with previous support at $289.23. Due to this rejection, put option flow and lower volume during this rally I am anticipating downside with a price target of $285.70 or the 23.6% extension area. Stay nimble, we’re always one tweet away from a boom or bust.

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NFLX - We’re up quite a bit over the past two days as and we have a similar rejection here that SPY had. Rejecting off a previous resistance area and the 50% retracement. I’ll be watching SPY and QQQ for direction as the market opens this morning but my expectation is that we’ll see downside today.

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DIS - Respecting the channel with a rejection off the top at $136.48. This is a key area for bulls to break in order to push higher. If we can’t break above this line we’ll continue channeling with a pullback at least to the $133 area, which is the point of control for this channel and near the Daily 9 ema.

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UBER - Good volume on the $46 strike for next week. I’ll be watching to see if this opens bullish tomorrow and consider joining the flow. Support at $42.82 needs to hold for me to remain interested in calls.

Premarket Update, UBER has given up this support area, now looking for $42.82 to hold as resistance.

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LYFT - Watching for respect to the supply line for potential downside.

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Watchlist May 15th 2019

/ES - It appears that the S&P 500 is obeying its channel today. I’ll be preparing for downside with puts and be very careful with calls. Looks like yesterday was just a corrective rally.

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NFLX - Chart wants to give up its major support, I’ll be considering a put swing today if this support breaks.

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Another look at that support line on the daily. If I enter a put swing My first PT will be the 200 sma.

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BABA - Hard rejection at previous demand line. I’m expecting a small rally followed by selling this morning.

BA - This is my top watch this morning for puts - pretty much out of the gate. I’ll wait a few minutes and short on weakness.

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UVXY, SQQQ, VIX all on watch for upside.

Watchlist May 14th 2019

SPY - Looking at a small relief rally today, most likely an inside day with minimal momentum. Watching resistance at $283.37 and $285.79 and support at 279.93 area. The 5/15 call volume outweighs puts, so perhaps we’ll close positive on the day. As always, I’m keeping a nimble bias.

NFLX - Nice bounce off multi-month support. I’m expecting this support to hold for now and for us to see a small rally and potentially close inside-day and green. I’m not expecting a lot of momentum here today.

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(NFLX continued…) Above, we can see the open interest for calls this week out-pace puts as well.

I’ll look for calls off dips to $345 - $347 area and I’m expecting strong resistance at $353.06 area and some resistance at $354.26.

SQ - Decent call volume on the $61 strike yesterday, watching this one for call scalps. Yesterday also had higher volume than normal which indicates demand and possible bounce.

RIOT / MARA- With BTC going nuts we look for sympathy plays in stocks, we see that both RIOT and MARA are responding with higher lows. These are worth watching while BTC is bullish.

Watchlist May 13th 2019

SPY - Another gap down day in the market as Trumps trade war heats up. Current price is 282.88 and dropping. I’m not expecting much upside today so I’ll be skeptical of any upside moves while scalping.

NFLX - Due to the bearishness of the overall market I’ll look for puts off of any rallies. I’m expecting resistance at $353.11 and $354.96. If we tank right out of the gate I’ll hold off and look to short off of any failed rallies towards VWAP.

Watchlist May 10th 2019

SPY Tariffs have been increased on Chinese goods. Our market has been continuously pricing in a trade deal since January so I personally anticipate more downside to come. However today president Trump is meeting with Chinese leadership and I think the market will hold off on major selling in hopes that a trade deal “gets done”. Stay nimble.

BABA - After many day's selling off I expect to see some upside today prior to Trumps call with Xi. I’ll watch for call opportunities on dips to $179s. After the call is anybody’s guess so stay nimble.

JD Nice, earnings beat this morning after a very bullish recovery day yesterday. I’ll be watching for continuation. I’d like to see $28.93 hold as support in order to remain bullish. Again, the tariff discussion can send us in either direction.

Z Zillow beat ER last night. We’re selling off this morning. I’m bullish above $38, and will evaluate puts if sell off continues.