Each afternoon, real [music] setups are
broken down with entry strategies and
the technical reasoning behind every
trade. This [music] is today's best
trade setups with Verified Investing.
>> [music]
>> Well, the war is apparently back on with
Iran. So, this is putting pressure on
the S&P 500, the QQQ, and the SOXX.
I have a couple different levels that
I'm watching today. AVGO is a great one.
That's going to be towards the end of
the show. But, we have some really good
sport Excuse me, support levels that the
spider has to maintain price action
above in order for the bulls to stay
kind of in control. It does look like
we're weakening, but, you know, we'll
see what happens. Anyway, my name is
Benjamin Pool, head trader here at
Verified Investing. And welcome to
today's best trade setups. Let's jump
into the S&P 500, the SPY. Here's that
support level.
$741.05,
previous gap in the charts. Look at this
support level. As you can see, we've
already maintained price action above
it. Your next level support,
if it does get there by about 12:30 to
1:00,
$740.03.
Really, these are your lines in the sand
after after this move to the downside.
If we start breaking below that, you do
have some additional support right here.
Ton of price consolidation, previous gap
in the charts, and a secondary gap in
the charts, previous one at $737.56.
Once these levels start flushing, you
guys,
there is going to be a lot more selling
pressure. I'm anticipating the SPY over
the next few days to head down to
$728.99.
So, this is the first level, though,
$741.
Excuse me, $740.03
is my long level today for the Apex live
day trading room. The QQQ. Here's what's
really interesting about the Qs right
now. We are below this low pivot point.
Here's a secondary low pivot right here
in the charts. If the Qs
get to this level today at 702.81,
this is going to be your support level.
However, look at this price
consolidation to the downside. This is
starting to look even weaker and weaker
on the charts. So, if it does break
below this level 702.81, here's a a
secondary level of support. So, if
you're a little bit more conservative,
wait for a 701.53
pierce. Or, if you're even more
conservative, wait for a $700 pierce on
the chart of the Qs before going long on
anything that is inside of the QQQ.
Nvidia, nice push to the upside today.
Now, we started a nice fade back. So,
what I was noticing is this high red bar
candle resistance area at 200.08.
This was going to be the resistance
level. We have a head and shoulders
pattern formation on the Nvidia chart.
Shoulder, head, shoulder. Here's the
break of the neckline. Here would be the
measured move. I ended Excuse me, I see
Nvidia, once we get below 189.31,
heading all the way down to this gap in
the charts at 165.21.
Right now, bearish consolidation, price
action move lower, consolidating right
on top of support. This is showing signs
of weakness. Today, though,
if we can get a pullback, 189.31 is that
level. And on the table, 200 and uh
$200.08
is off of the table. However, this
up-sloping trend line, if we can get
above 203.50,
would be my level to enter a short trade
on Nvidia today. The chart of USO, no
surprise, ton of price consolidation in
this area. You zoom out in the charts,
look at this. High pivot point. We did
end up getting below that level on the
chart of USO, and it looked like we're
going to get a flush out. But, if you go
to the futures chart, you can see it
filled the gap beautifully, and that's
why we're having this push to the
upside. So, what we're looking at is a
previous gap in the charts right here
for resistance about $116.13.
And with this continued move, this is
going to be a key resistance level on
this chart at $116.04.
Tesla, second sell day in a row.
My long level today would be right here.
As you can see, we're into that previous
gap in the charts right now
sitting at $391.
That's going to be a key support level.
If we start breaking that, the level
next level I'd be looking at is $380.15.
And this is actually starting to set up
great for a swing trade. Notice how
price action continued to maintain
support here, finally broke this
support, got back above. This opens the
door to solidify uh this support at
38015, which is why this would be
potential entry for a long play. We're
going to have to see how price action
ends up.
If we start closing below 36829,
though, then all of a sudden it opens
the doors to further downside. ARM is
getting a nice bid to the downside as
well.
I have a downside target of $237.68.
So, for today,
look at this pattern.
There is not a ton of support. The only
next or the next level of support that I
have right here would be $257.
Or, excuse me, $250. No, that's not
right. Let me try that again. All right,
here we go. $256.73
is that aggressive level.
Um going it's it's not going to happen
today.
Aggressive level today, $288.31
low pivot point, but after that fails,
we're coming into this gap in the charts
256.73, but ultimately, I see this
coming down to 237.56.
The SOXX,
look at this.
In the premarket, we were trading all
the way down here. Got a nice bid to the
upside, came in and almost filled this
previous gap in the charts at 566. Now
we're starting to reverse. What's really
bearish about this chart is see this gap
in the charts? It filled it and then we
got rejected. So now the probabilities
indicate that we're going to start
flushing below this little gap in the
charts at 541.51.
Once we do that, your next level support
is going to be 537.33.
These are some aggressive levels today
to play this on a long play.
If we do break those levels on a
15-minute closing basis, look to stop
out, and then you're looking at a
re-entry at about $532.76.
Ton of support on the way down on the
SOXX, even though we are now currently
in more of a downtrend on the SOXX. And
so what I like to see when we're looking
at downtrends is a pivot top, pivot low,
lower high,
lower low. As you can see, we're
currently making that. As long as we
maintain a lower high, then all of a
sudden we're going to get a nice
continued rollover on the SOXX.
Eventually, this thing is going below
$500 and then could even drop even
further than that. Look at how elevated
the chart is on SOXX. Your next major
level support is where I'm seeing price
action heading to is about this gap in
the charts at $461.95.
Let's take a look at AMD. Look at the
selling pressure on on AMD. So here's
this nice upside we turned on.
Pivot low here, secondary hit, here's
the third hit. So, this is an aggressive
level right now.
Uh previous red bar candle high.
However, with this sell candle, this is
putting a lot of pressure on anybody
who's long on this trade because the
further and further they get out of the
money, the more and more pressure it
puts on their accounts and they're
likely to take profits and that will
likely send this down lower. So, today,
even though this is an aggressive level,
I'm not looking to play AMD until it
gets into $488.45.
This is a level I'm looking on AMD to
play this for a long play today. I have
First Solar. It just continues to fall
into a lot of support here. You've got
this previous gap, 220 bucks. Those of
you who are aggressive, that's the
level. I would be waiting for price
action to get sub $200 for a play on
FSLR. INTC, I didn't have that,
but here's the level that it got to in
the pre-market. 104.22
is going to be a key support level.
After this um gap down, we had a five or
6% move to the upside. So, once price
action does get back into that level,
you're going to have a a ton of support
because of the price action that
happened. Now, 104.22,
if it does start closing below that on a
15-minute closing basis or a 15-minute
candle closes below that, you look to
stop out and then you look to play this
gap right here at $99.17.
That is where I'm looking to play this
either tomorrow or the next day, but
this is going to be a key support level
on Intel. Last but not least, AVGO's
pushing higher.
So, there is announcements that they are
have secured a deal. It's a $20 deal and
I believe it was with Apple. So, this is
why we're having this bid to the upside.
Gap in the charts.
Two $392.13
is that level that you should get a nice
rejection on the chart of AVGO. Now, it
did look like it kind close to this high
pivot point. However, this is still the
gap that I'm looking to play AVGO for a
short short trade. On the way down,
we got to identify where the next level
of support is just in case we get a
flush out. And that's going to be this
gap right here at $370.78.
So, if we do get a pullback, this is the
level I'd be looking to go long today.
And then ultimately,
as you can see in the charts, time of
price consolidation, this is setting up
for a great swing trade. 354.53
would be a great level. All right. So,
we still have the VI course sales on
sale. If you scan that QR code, it'll
take you to our course section on the
verifiedinvesting.com
page.
This is where you build your foundation
foundation. If you want to see how I
identify my levels, so that way you can
do this on your own,
check out those courses. And if you're a
beginner trader, Drew has a really good
beginning trader
series.
You guys want to definitely check that
out because it gives you some insight
into what shorting is, what going long
is, how to properly allocate your
trades.
It's a wealth of information, and you
guys want to build your foundation off
of that. And then you can go into the
other courses with the verified mindset
if you want to get into that or the
winning trader series, and that's a
great course as well. So, that's
actually how I built my foundation
because Drew's course wasn't available.
Anyway, if you guys getting some of that
as, please make sure you're hitting that
like button, follow, subscribe, and ring
that bell so you're notified when these
videos drop, and we'll see you next time
in the charts. You guys have a great
rest of your day. Take care.
>> Yeah.
>> [music]