Each afternoon, real setups are broken down with entry strategies and the technical reasoning behind every trade. This is today's best trade setups with verified investing. >> Welcome to today's best trade setups. My name is Benjamin P, head trader here at verifiedinvesting.com. If you looked at the market in the memory sector, you would think that we're having this massive rally to the upside. Now, we are having a push up in some of the stocks like AMD and ARM. However, the big pushes today are stocks like Micron and WDC and STX. However, we're going to take a look at the S&P 500. That's not really rallying the same as those memory stocks. We are getting way overextended. I know we've said this several times, but there is an overextension in these memory stocks. So, pay attention to the negative RSI divergence because we could be starting to top out. And again, I know we've said this several times, but there's something larger at play here. And today is options X as well as triple witching. So, could be at that at play. Watch for a continued sell off or a start to sell off towards the end of the day. But Monday, there should be a pretty substantial sell-off in a lot of these memory stocks. Let's jump into the S&P 500 from the closing price yesterday. We did fill this gap, got a bid today. Now we're facing this resistance at $748.17. That's where it got us high as. And now we're getting a little bit of a pullback. If the spy fails to get back above 74817, then all of a sudden we're going to start in start putting in a a pivot high, a pivot low, a lower high, and then we start taking out this lower low. Then all of a sudden, we're going to start creating this leaprog pattern or this waterfall pattern that is really bearish for something like the SPY. Now, it hasn't formed yet. This is just kind of a something to watch for going into the future on the S&P 500. S OxX, like I'd mentioned, this thing is getting a nice surge to the upside. Now, here's what we're going to do. We're going to turn on the intraday. Look at this. Turn off the volume weighted average price. Now, what we're doing in on the SOXX is we're actually putting in this really nice upswing trend line. So connecting this pivot low here, secondary hit, third hit, and this is on the one minute time frame. What's looking like is we had this nice peak here, finally got above it, started creating these higher highs and higher lows. However, now look at what's happening. We're creating a pivot high, pivot low, lower high, lower low, lower high, and we've got a break of this upswing trend line. So what I'm looking at is a potential retrace all the way up to about $63841. If it does that, then that's your shortable level. And the reason I like that is because if it does break above $63,958 on a 15-minute closing basis and closes there, I would look to stop out. But this is the type of price action that I like to see in stocks on the one minute time frame, continually bouncing off of support. Then all of a sudden, it breaks. Now, if it does break this and continues lower, gets a little bit of support at $634.66, you would wait for a retrace all the way back up to this upswing trend line on a retrace to the scene of the crime. As you can see, it hasn't done that yet, but that is what I'm looking at for the chart of the SOXX. Again, my shortable level is 63892 somewhere in this area and having a clear stopout on the SOXX. USO is selling off as well, which is one of the reasons that the memory stocks are continuing higher. $10810 previous gap in the charts. This is more of a um pretty substantial gap in the charts or previous gap in the charts. You should have a lot of buyers stepping up on the chart of USO. Now, pivot top, pivot low, lower high, lower low. If we start seeing something like this on the SOXX, then all of a sudden we're going to start seeing a nice move to the downside. Let's check out MU. So, here's a chart of MU. This is going to mirror the SOXX or the SOXX is going to start mirroring this pivot top or pivot low here, secondary hit, third hit, fourth hit. Right now on the chart of MU, we are still technically in an uptrend. So, what we're looking at is not only a break, but we need a continuation move on something like MU for us to get a continued sell-off. So, as the day goes on, the more often it hits this upserving trend line, the more it favors a pullback. So you could play this similarly with the SOXX. If it does get up to about $1,132, that could be your potential entry price, knowing that if it does close above that on a 15-minute closing basis, you look to stop out. Once this upswing trend line does start breaking, obviously, as you can see, there is a ton of support at 11:26. But once that gives way, you're heading all the way back down to at least $1,110.40. This is where your next major support level for MU is. Not only is it a major support level with this horizontal trend line, you've got this third or fourth hit of this upswing trend line. So, this is a dual factor area where you're going to get support. Overall, if you switch to the daily time frame, this thing just continues to surge up. Now, I did mention that we are still technically in an uptrend on MU and your potential shortable level is $1,87.99 with an a stopout a close above $1,110.40. So, that would stop out on a daily closing basis to minimize your amount of risk that you have on the chart of MU. Eventually, this thing will come collapsing in, but we're still technically in an uptrend and we're starting to create additional negative RSI divergence on the chart of MU. Microsoft I'd mentioned that once we get below this uh gap in the charts at 384 $384.37 uh then we have the potential to hit this downing trend line $36682. I'm eyeing this for a long play today and this is a starting point of a swing trade on MFST for me today. SanDisk is pushing up a little bit as well. had this nice rounded top or a little bit kind of a a head and shoulders pattern. Now we're creating this nice bearish uh consolidation right underneath this upswing trend line. So my entry price on SanDisk for today would be 218512. That would be this red bar candle high and that would be an possibly a retrace to this upswing trend line. That is my entry point knowing that I would stop out of this trade above 2189. And again, this is for a day trade on SanDisk. So that's what I'm looking at. AMD is having a nice move to the upside. This one isn't quite making the moves as the memory stocks, but SanDisk, great push to the upside. AMD not quite as much. $542.52 is my shortable level. If AMD can get a nice push to the upside, Wayfair is also Wayfair is also making a nice push to the upside. If you zoom out to the daily time frame, nice gap in the charts sitting at $9148. Had a pseudo topping tail, but there was a lot of selling pressure in the S&P 500. And so, you can't really consider this a topping tail. So, what I'm looking at is another push to the upside. $9148 is my shortable level today on Wayfair. ACN is having a nice drop today. did get a solid bounce off the uh at the market open, but what I'm looking at is this high pivot point right here. And this is starting to look good for a potential swing trade as well. If we can drop all the way down into this $121.58 level, ton of price action in this area. So 12158, that is my long level for today. And if you're looking to swing trade this off this down move because it had earnings, I would wait for 3 to four days to see how price consolidates at this area. If it does over 3, four days and consolidates right on top of it, then this would be weakening the support level. So I'd wait to see if we get a solid bounce continuation move and then possibly play a potential retrace all the way down there. If we start closing below and then we recapture it, then this is my long level at 12158. IBM is also having this nice draw down today. Here's a previous gap in the charts right here as well as a ton of price consolidation. If we can go a little bit lower on IBM, which is actually having a decent selloff today. $241 or $24027 is my long level for a day trade today. Tesla's having a nice draw down as well. So, this was my long level yesterday. Now, price consolidated right on top of that level. So now what I'm looking at is this double bottom area at $380.15. If Tesla can continue the rollover, that is the area that I'm looking at to go long. So lot of different opportunities in this market. Some on the upside uh to take advantage of some short plays and some that are getting draw downs, excuse me, that are great for long opportunities. Take a look at what happens with some of these stocks that make these pivot tops and create these lows, high lower highs, lower lows, and then all of a sudden that is when the trend is starting to change and that's when you step out away from these trades and eventually that's going to start happening. Still technically an uptrend on SanDisk and MU. Eventually, these things will come in. The timing is sometimes the hardest part in trading. And anyway, that's what I have for you. Please make sure you're uh smashing that like button, you hit that subscribe button, and ring that bell so you can get notified when these videos go out to you guys. And we'll see you next time in the charts. You have a great rest of your day. Take care.