Market Notes for 5/24-5/28
Important week is coming up. Just from reviewing the charts, a lot of names are printed inside candles with some regaining important zones. I will be glued on ARKK and watching to see if it breaks out because names that it holds will be short squeezed.
Indexes
$SPY - Chart showing a higher low and higher high with a double bottom setup so hard to be bearish here, above 416 should be bullish and below 410 we are likely to retest 405 and 400.
Interesting Options activity last week: 6/4 404P $200K @2.10.
$QQQ - Needs to take out the above 331 supply zone and hold the demand 324.
Interesting Options activity last week: 6/4 340C $480K @0.92.
Stocks
$AAPL- Inside week last week so watch for breakup or breakdown but not really worth trading imo as the name barely moves.
Interesting Options activity last week: 6/4 127P $110K @2.93
$ABNB- 132 area was supported last week, i think that should be the bottom, 2 big area above are 137.5-138 and 142-143.5.
Interesting Options activity last week: 5/28 140C $45K @ 1.73
$AMD - Hold 77 still very bullish, lose 76 and longs are in trouble. Still very bullish on this overall, see the buy vs sell volume.
Interesting Options activity last week: 5/28 80C $70K @ 0.55
$AMZN- 3247 is a major pivot for upside moves so watch that level this week.
Interesting Options activity last week: 5/28 3350C $300K @14.00
$ARKK- This is the biggest chart for the market, which will determine whether the next move is up or down so watch it carefully. Inside week, good sign to take longs on all the beaten up ARKK names for a short squeeze.
Interesting Options activity last week: 6/4 114C $480K @1.20
$BA- Falling wedge breakout on friday, could be going for that 241 level which will be make or break.
Interesting Options activity last week: 5/28 235C $77K @4.35
$BIDU- in this demand zone, look for calls above 190.
Interesting Options activity last week: 5/28 200C $56K @0.67
$BYND- Inside week, Aggressive long above 109, safer entry above 111.
Interesting Options activity last week: 7/2 120C $36K @2.15
$DKNG- Continues to range chop in this demand zone, just watch patiently.
Interesting Options activity last week: 6/18 50C $40K @1.47
$DOCU- In big demand zone, can expect big move up above 195+.
Interesting Options activity last week: 6/18 220C $65K @3.30
$ETSY- Use $167 as pivot here, as long as we remain above should be bullish.
Interesting Options activity last week: 5/28 175C $44K @2.60
$FSLY- Fastly bounced off the big weekly demand zone last week, Bullish above 44.5 can take long this week targeting 47.
Interesting Options activity last week: 5/28 44C $25K @ 1.65
$JD - see how we open on monday but if we can hold this 72.4 gap and take a long off it.
Interesting Options activity last week: 5/28 74C $80K @0.86..
$NIO - Waiting game here, above 35 this goes bonkers
Interesting Options activity last week: 5/28 34.5C $35K @ 0.98
$NKE - Back in this demand zone, it keeps holding so keep buying it.
Interesting Options activity last week: 5/28 135C $35K @ 1.25
$NVDA - Needs to hold this 600 level, earnings this week so let's see if we get a runup.
Interesting Options activity last week: 6/4 670C $750K @ 5.75
$PINS - Retesting this failed demand turn supply, reclaiming it will be super bullish.
Interesting Options activity last week: 6/18 65C $50K @ 1.95
$ROKU- Wait for pullback to 326 and can take a long off the demand zone or take breakout above 340+.
Interesting Options activity last week: 5/28 350C $55K @3.30
$SNAP- Watch this name this week, getting ready to breakout above 58.20 can run like crazy to 60+.
Interesting Options activity last week: 5/21 52C $25K @ 1.80
$SNOW- 243.5 is the biggest level here, above it this goes absolutely nuts.
Interesting Options activity last week: 7/16 270C $290K @ 9.20
$SPOT- Can try this long again this week above 232 for a bounce off demand.
Interesting Options activity last week: 6/18 260C $30K @ 1.80
$SQ- Still in demand zone, this name is wall street darling so hard to see this fail here watching for above 209 to see another big move up.
Interesting Options activity last week: 6/18 220C $700K @ 7.00
$TDOC - Super oversold name, i think above 147 we start squeezing big time.
Interesting Options activity last week: 5/28 150C $74K @ 1.55
$TSLA - Still below this big zone, want to see it above 617.
Interesting Options activity last week: 5/28 630C $70K @ 3.45
$TWLO - Reclaimed last week, could play some calls off the zone this week.
Interesting Options activity last week: None
$UBER - Reclaiming this big demand, play off the zone with first target @ 50.7
Interesting Options activity last week: 5/28 52C $67K @ 0.34