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>> real setups are broken down with entry
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>> Good afternoon, everybody. My name is
Benjamin Pool, head trader here at
verifiedinvesting.com.
So, all eyes are on the US 10-year as
well as US oil. So, the Strait of Hormuz
is supposed to be opening up with the
US's control. However, the price of US
oil continues to increase with that
news. So, let's jump right into the
charts. The first one we're going to go
over is USO. Here's this resistance
pivot low right here, 7901.
If we can get up into this level and hit
this down-sloping trend line where I've
connected this pivot top here, secondary
hit, kissed it here, but this is the
secondary hit on this up-sloping trend
line. If we can get up to 7901 in the
next few days, we're going to have a lot
of resistance on this chart. And so,
this is where the market should get a
pretty sizable bounce because the
markets are selling off just a little
bit. Had a little bit of a bid, but
we'll jump into that chart here in a
second. Here is the US 10-year.
Up-sloping trend line, pivot low here,
secondary hit, third hit. Look at how
price consolidated on that up-sloping
trend line before this nice sell-off.
Now, all of a sudden, we've recaptured
this low pivot or I mean these pivots
right here, which was resistance at
4.486.
Got above these high pivots at 4.556.
So, what I'm looking for
is price action get up this secondary
pivot of resistance
4.688.
And this is also, I know I have it on
here as up-sloping trend line support,
but it was support. And if you know
anything about technical analysis, once
support is broken, once it retraces,
likely up to 4.688,
this is going to be your resistance
levels. So, keep your eye on the markets
when the USO chart hits that level and
when the 10-year yield hits this level.
If we can have them both hit at the same
time, the market should get a pretty
sizable bounce.
Um but, keep your eyes on those levels.
Those are going to be some pretty key
technical levels. So, here's the SPY.
SPY got a little bit of resistance on
Friday's open or close. We got up to 500
$754.78.
Look at this. This was your line in the
sand. Now, we had this fall, got as low
as 500 uh excuse me, $750.37.
Again, here's your line in the sand. If
we can recapture this, then we're
heading all the way up to this gap in
the charts at $759.66.
My day trade level here is this gap at
$757.18.
If we can get a continued push, that is
where I'm looking for resistance on the
SPY today. For me, this would be the max
upside um on this chart. And you do have
a for aggressive traders, you do have
this gap right here from the
uh the closing price on Friday to the
opening price here. So, if we jump up a
little bit higher and close right in
this area, that could be a resistance
level as well. Look at the SOXX.
Semiconductors are under pressure.
Now, again, this is a little bit
premature because we haven't broken, but
we have to get our eyes on the charts.
Here, you have a left shoulder.
You've got the head and then a right
shoulder. And it really doesn't matter
where the shoulder is as long as it's
below
the head.
If we start breaking this, what I've
done is I've connected the apex of the
head or the highest point of the head
all the way down to the neckline and
drawn where a potential breakdown would
be. And this would be your measured move
on the SOXX all the way down to $411.78.
This is going to be an amazing swing
trade long level on the SOXX.
Now,
tradable levels today,
we already filled this gap right here.
Flush that. My long level today is
$551.69.
If we can get a continued sell, that is
going to be a level of support. And if
you guys have watched this show before,
I love to go back to previous gaps in
the charts to see what's happened to
price action after a gap has been filled
and then it gets a nice bounce. There
are still some people who are sitting
there likely waiting for price action to
either get down to it or in up into it
and that's going to be either a support
or resistance on the SOXX. That's going
to be a ton of support if we can jump
up.
I mean, excuse me, pull back.
For me, my max upside today on the SOXX
would be $581.24.
This is the area that I'd be looking to
short this this chart.
If we can get another rise in this
thing. The QQQ, not really going a whole
lot going on here. Kind of similar price
action. If we drop into this gap we fill
or this gap
at $711.44,
you're going to have a ton of support in
this area. And then on the upside,
similar with what's going on with the
SPY, if we jump above $725.17,
that is going to be your resistance
level for a short on a day trade basis.
If we get up a little bit higher,
let's see where a potential swing trade
short is.
Couple different trend lines I'm going
to draw and you'll see pivot top here,
secondary hit. So, if we can hold head
all the way up to about $740.57,
that's going to be a key resistance
level. Now, if we drag this down a
little bit more through all of this
price consolidation, now you have more
hits of this down sloping trend line.
So, if you're aggressive, this down
sloping trend line connecting the pivot
top here,
secondary pivot, third pivot here, then
you're looking at a resistance level
around $732.90.
Microsoft is making this good push to
the upside. Had a good close yesterday.
I mean, on Friday. Got down to $384.95.
Here's an inverse head and shoulders
pattern that I'm looking at on the chart
of Microsoft. Shoulder here, head here,
shoulder here. And again, similar to
what I did with the SOXX, the but the
inverse, take the apex of the head to
the neckline. And depending on where it
breaks out,
your measured move is taking you all the
way up to $437
up to 440 bucks
on the chart of Microsoft. Now, it
hasn't broken that level yet.
So, we still have to see when it breaks,
what it does. The way to play this is
wait for the break.
Continuation move and then a retrace to
the neckline. And the reason I like
something like that is it gives you a
clear opportunity to exit the trade.
If
this up down sloping trend line does get
taken out, and price action, excuse me,
does get below it, then you're looking
at downside move to about $373.02.
ARM, what a great fall today. Continuing
to be under pressure. So, here's this
gap in the charts that I was looking at
this morning, $300.24.
And then a secondary level, low end of
the green bar candle or the open price
of the cr-
green bar.
And then ultimately, I I didn't think it
was going to go below $290.45,
but we're getting a nice bounce. So, if
we get a continued push up, I would be
eyeing this gap
in the charts from the closing price on
Friday to the opening price
here on Monday at $311. If we can get
back into this level at $323.28.
That's my short level on ARM. If we get
a nice drawdown, $290.45
is going to be that support level. If if
we can continue to fade,
Marvell filled the gap already.
I do like this $219.43 level. If we can
stay above that by 12:30 all the way to
about 2:00, this is going to be a ton of
support on MRVL.
With that said, look at this up
something trend line. Pivot low here,
secondary hit, third hit, got a little
bit of a bounce, not as big of a bounce
as I was expecting. Got a pullback off
this gap, came back in. So, we haven't
confirmed or we haven't made a
continuation move to the downside yet,
but if this closes in this area on MRVL,
the uptrend on Marvell would have been
um solidified. And then you just play
this on a retrace back to this gap in
the charts or previous gap at $249.27.
That's your entry price
for a swing trade short. Nvidia
Nvidia's kind of chopping sideways.
Previous gap in the charts, got a little
bit of rejection, got almost to flat on
the day at $210.92.
What I'm looking at is a continued move
to the upside. I would be looking to
short right here at $214.68
knowing I've got this gap right here
at $218.66
that I could dollar cost average into
and then take advantage of a nice
drawdown.
Let's go and
take a look at SanDisk.
Gap in the charts. It did flush that
level. So, the gap right here is
$1,727.18.
It got as low as $1,701.64.
Because that's already played out,
this is the level I'd be looking at as a
pierce of $1,700. And this would be a
single entry for me on SNDK if it did
break below $1,700 and close below that
on a 15-minute closing bar or candle, I
would look to stop out. Then I would
look to re-enter as you guessed,
previous gap in the charts and that
would be a significant move to the
downside. It'd be a 16 it would be all
the way down to about 1,615 bucks and 68
cents. So that's the long level on
SanDisk. Now,
gap in the charts right here after this
huge move to the downside. SanDisk is
at $1,915
and 92 cents is where I'd be looking to
short SNDK. Micron has not filled this
gap right here for the second time. I'm
still eyeing this for a long at $891.88.
On the way up if you're aggressive,
$948.80
is your aggressive short level. What I'd
be looking to do is play the gap that
was created from Friday's close to
Monday's open and that would be sitting
at $978.30.
LITE is continuing its bullish momentum.
So I think a LITE has
more potential for upside and the reason
I say that is because we had this sharp
down move,
good recovery,
bullish consolidation. So what that
means there's there's an accumulation of
buyers in this area.
So if we can get above $817.24,
the level that I'd be looking to short
today is $858.06.
Now, let's take a look at one that's
really getting beaten up.
ORCL. So I have a ton of different trend
lines on the chart of ORCL. So let me go
ahead and clean this up a little bit for
you.
What I'd like to see is
a breakout of this down sloping trend
line. Pivot top here, secondary hit,
third hit. Look at how sharp the
sell-off was. Now, zoom out in the
charts a little bit more. You've got a
pivot low here, secondary hit, third
hit, fourth hit, which was a good buying
opportunity, and then it hit again on
Thursday. Got a decent bounce, came back
in. So, I still see this as a ton of
support in this area.
Knowing at 3 $134.57
is additional support at this low pivot.
Now, what could happen is price action
could break below that low pivot.
And then you have
this additional support at this gap in
the charts at around $127
and $0.24.
So, swing trade long levels it Oracle is
looking prime for a swing trade long
level. If you're a little bit more
conservative, wait for this $127.24
level, but again, I love this up sloping
trend line still as support even though
we're below it. Even if we get below
$134.57,
I still think we're into a ton of
support on ORCL.
All right, so that's what I have for you
guys. Thank you so much for watching.
Um, Nick,
the new trader,
is going to be going um
live
at 1:30. You guys don't want to miss
that. It's a crypto insider, and this is
going to give you a lot of information
uh going forward if you are interested
in crypto. And if you're not, it's still
going to be a lot of technical analysis
as well as great information that you
guys want to tune in right here on the
Verified Investing channel. And with
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You guys have a great rest of your day.
Take care.
>> Yeah.
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