06/17/2022 Watchlist Chart

06/17/2022 Watchlist Chart

 

Watchlist for Friday, 06/17/2022

On Thursday, $SPY failed to hold the 380 resistance (and target) We’ve been talking about, gapped down past the 373 support, and fell right to the 365 level below that We had mentioned. So far it’s holding, and if it continues to, We are expecting a bounce to try and go for a 373 retest. If 365 fails to hold, 359-358 and 351-350 remain below. Futures are currently up +0.60% after hours.

 

$BABA

Levels Above 100: 104, 108-110, 114, 119
Levels Below 100: 97, 94 (50 DMA), 87, 90

Contract Suggestion
Above 104 or B/T 100 level: 105C 06/24 (2.8K Volume @3.05)
Below 100 level: 98P 06/17 (1.9K Volume @ 0.64)

Analysis
On the daily timeframe, BABA filled the gap from the previous gap down last Friday (06/10) and was quickly rejected by the daily downtrend line after a failed breakout attempt of that channel. BABA was showing relative weakness with the market but continues to defend the key 100-101 support range. Despite the pullbacks, the flow appears to be bullish and net premiums climbed today from $32.68M -> $52.27.

 

 

$TSLA

Levels Above 644: 657-660, 675, 686, 700.
Levels Below 644: 630, 620-616, 600, 576

Contract Suggestion
Above 644 level: 670C 06/17 (25.8K Volume @ 4.00)
Below 630 or 644 rejection: 610P 06/17 (10.2K Volume @ 4.95) or you can do that 600P as lotto

Analysis
After being unable to break above the key 700 resistance, TSLA gapped down with the market overnight and sold off to the 620-630 support range. There was some short-term flow that came into 650C 06/24 likely to play the bounce. On the daily timeframe, TSLA continues to test and hold the 620 triple bottom level. Net premiums dropped from -$80.76M -> -$111.39M, so caution is advised if the market isn’t able to recover.

 

 

$NVDA

Levels Above 155: 162, 165, 168 (9 DMA), 178
Levels Below 155: 150, 145, 140, 134

Contract Suggestion
Above 162 or B/T 155 level: 165C 06/24 (5.1K Volume @ 2.78)
Below 155 level: 150P 06/17 (34.4K Volume @ 0.92)

Analysis
On the daily timeframe, NVDA continues to defend that 155 level with that triple bottom so far but this third bounce was a bit weaker than the prior two. Contrary to this fact, there was some ITM 150C 06/24 flow that came in near the end of the day, likely to play a short-term bounce after the major drop during Thursday’s trading sessions. The semiconductor sector is still weak overall and NVDA is at critical support that bulls must hold or we can see a leg lower. Net premiums dropped from $$26.61M -> -$105.85M, so some caution to bulls.

 

 

***NEWS TO LOOK OUT FOR THIS WEEK***

 

  • Jerome Powell speaks on Friday (06/17) at 5:45 am/8:45 am EST at the Inaugural Conference on the International Roles of the U.S. Dollar, Washington, D.C.
  • OpEx on Friday (06/17)
  • The market is closed on Monday (6/20) in observance of the holiday

 

 

 

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