Semis & Energy Surge: Trade Setups Across SPX, USO, AMD & More

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. >> Wow, what a push up in the memory stocks today. We have Intel going higher as well. STX, we actually have Bloom Energy heading up a little bit in the pre-market or in the regular trading hours as well. The S&P 500 is basically staying neutral with USO continuing to push higher. Let's jump into the first chart. The one I'm going to go over first is the S&P 500. Here it is right now. S&P 500, I still have $718 as the pivot tops, couple different trend lines right here. $718 would be my first shortable level today if we can get a nice surge to the upside. You do have this minor gap in the charts and I have to zoom way in to the charts to get to the daily time frame. Gap in the charts right here at $715.21. If it does get above that, as you can see, $718.53 is this up-sloping trend line that I would be shorting. I don't have the trend line on my charts, but it basically connects all the way through here and that would be another hit on this trend line. So, about 718 bucks again would be my level to short the S&P 500 today. Aggressive traders, $715.21 would be that level to short. USO pushed through this double top right here at about $143.94. Now, we're actually starting to move up a little bit more. What we have to do is zoom way out on the charts. We go all the way back. Scroll, keep scrolling, keep scrolling. Here's a gap in the charts from the July 15th gap before USO decided to sell off. $151.26 is that gap. So, if it does get there today, this is where I'm looking to short it. Those of you who are a little bit more aggressive, 147.28 to 120 47.50, that could be your starting point knowing to dollar cost average all the way up to $151.26. This would be for me the max upside today. And eventually, USO is going to start rolling over. It could be a months away with this nice pop to the upside. However, it is getting overly extended. Look at this move to the upside that is due for a pullback. Oracle's had a nice fall. This was the gap fill yesterday that I mentioned before this move to the upside. It had already filled that gap. Today, what I'm looking at is a long level. If we can get you Oracle to sell off a little bit more, $155.59 is where I'm looking to play Oracle for a long play. Now, if the S&P 500 does start pushing up, $172.96 is where I'm looking to short Oracle. That would be a decent push to the upside. It would take out this high pivot point here, and then it's facing this additional resistance level at this prior gap in the charts, which is why I like it. One of the things that I noticed with Oracle is it does a pretty good job once it gets into support and resistance levels at respecting those levels. Um I don't necessarily think that there are a lot of retailers involved in Oracle, but there are a lot of institutions, which makes these levels so much better. And I realized that I have verified investing extras on there, so I'm going to take that off. All right, now let's go into the next chart. Let's jump into AMD. So, some of the semiconductors are making a push to the upside. Uh Advanced Micro Devices AMD, my shortable level, if we can get there by 2 to 3 o'clock is $334.61. This is a gap right before this nice fall to the downside. If we do fall, start to roll over as AMD started to at the beginning more part of the morning, $305.33 is that gap fill in the charts that I would be interested in going long. Aggressive traders look for this opening green bar candle at $311.71, but because it's about $6 higher, I would wait for this secondary level. It does look like AMD might push through, which means that at $334.61 if it does close above that on a 15-minute closing basis, I would look to stop out. All right, Robinhood is making this nice push to the downside. What we're looking at is this gap in the charts. $71.64. As you can see, price action is currently sitting below it. So, what we have to do is actually look at where the next level support is. Next level support is going to be this prior gap in the charts. As you can see, price consolidated right in this area. It was resistance when it was underneath it, and then it was support once it got above it. This tells me that price action is respecting the support levels. $69.06 is that prior gap in the charts as well as all this price consolidation. This is the area that I would go long for a day trade. Now, we're getting close to a swing trade level on Robinhood, and this would be a retrace the scene of the crime. People often ask me, "Well, I have to wait for it to retrace?" Well, you don't have to, but I do. So, here's a pivot top here, secondary hit, third hit. We got a nice surge above it, but you notice it was a gap above, confirmed, and so what we do is we actually are patient on these trades. We don't chase this to the upside. So, if it gets back into $65.64, you have the support level right here, and it would likely be a retrace the scene of the crime but right before it of this broken down something trend line and that is your area to enter. The cool thing is is if it gets below $63.52 on a daily closing basis with confirmation, you can just stop out of the trade. It gives you an exact entry price, an exact exit price and then you could look for about a 10% to 15% move to the upside on Robinhood. As you as you can see, I have this line right here, this gap in the charts at 60 $85.60 which you're going to have resistance once we do get back up into that level. Bloom Energy is having a nice surge as well. Bloom Energy right on the first 10 minutes got as close as close to $300 and then had this nice pullback. It actually put in a 10-minute topping tail. So, let me go ahead and explain to you how I would play this 10-minute topping tail. So, here we have at the upper end of the charts. What I did was I took this fib extension tool. Took it from the high of the candle to the low end of the candle. What I look for is again, highs of the charts. Yes, it's at the highs of the charts. Is the wick greater than 50% of the entire candle? And as you can see, it is. The 50% retracement is $282.88 and as you can see, the wick is greater than that. The last thing I look for is where the closing price was. The closing price was in the lower 25%. That tells me that this is a valid topping tail and so we could play this on a retrace. Aggressive traders look at the $282.88 level for a rejection. For those a little bit more conservative, you can go with the 618. For me, I would be looking at the 786 Fibonacci retracement which is $287.27. So, if it does get up there by 3:00, this is your entry price or at least this would be my entry price on the chart of Bloom Energy. The reason I like that is gives me a really tight stop out. If price action does close above 290 dollars and 55 cents on a 10 minute closing basis, that would be where I would stop out and then look for a 300 pierce. It's either that or if it does break above 290 dollars and 55 cents, what we could do is dollar cost average every 3 dollars higher. So your first entry price would be 287 dollars and 27 cents. Your next entry price would be 3 dollars higher than that and then 3 dollars higher all the way up to the 300 dollar level. For me, Bloom Energy, the max upside today that I see is 300 bucks. I could be wrong, but that's next psychological level where there should be a lot of profit takers sitting to take advantage of this pullback on Bloom Energy. So they remove their trade, they exit it for a nice solid gain. Enphase is having nice drawdown today, down over 10%. What I'm looking at is now that we're broken have broken below this 30 dollar and 92 cent level, the next level of support is going to be this double bottom this previous double bottom right here as well as all of this price consolidation. So if we go a little bit lower, 29 dollars and 89 cents is your aggressive level for a trade on ENPH. I would actually look to stop out of the trade on a 15 minute closing basis if it does get below that level. And the reason I I would do that is below it, although you do have this V-shaped recovery that happened on ENPH, just because it's there in the past on something that's as small as Enphase, I would look for a re-entry around 27 dollars and 80 cents knowing that I could dollar cost average all the way down to this low pivot point at 25 dollars and 66 cents. For me, I'm I I play this a little bit more conservative. Look at the drawdown it could continue to have. That's a 13% move. And when you have a stock that's got a lot of momentum and just continues to sell off throughout the day, that momentum pressure can continue um into the afternoon session. And if that happens, then it's a good reason to exit the trade, reevaluate, and see if we get any volatility. If there starts to get a lot of volume coming into stocks that's putting it down, pushing pressure on it, into a key support level, then you institute a trade. If there's low volume, the low float, no volatility, that's a sign that you just step away and say, "You know what? I'm going to go ahead and focus on another trade." Because there are a ton of trade opportunities out there. You don't necessarily need to go and just focus on one chart. All right? Uh STX is having a nice move to the upside. Could be putting it a topping tail on the daily time frame today. If it does happen, then you would play this like the Bloom Energy 10-minute topping tail. It still has a long ways to go, 4 hours and 37 minutes before this um candle is concluded, before we can decide if it's a topping tail. So, you would just take that same measurement tool, take the pivot high, all the way to the low, and make sure the wick is in the upper 50%, the closing price is at the in the lower 25%, and then now that we're at the top of the charts, that would be a potential valid topping tail, sending a signal to the bulls that they are no longer in control of this, and now it's time for the profit-takers to really drive the price down. If we had a really sharp sell-off today, and this would be a significant sell-off. $579.03 is my long level today if we can get that sell-off. If for some reason STX gets this nice bid, uh $697 is my entry price, knowing that I've got additional resistance at the $700 piers. So, that's how I'm going to play STX today. Great fall though from the highs. Over a $30 pullback on the chart of STX. Coinbase is having a nice surge to the downside as well. My long level today is $174.53. If it gets into that level today, by 2:30, I'm going to be a little bit more conservative on this. 2:30, it needs to get there on Coinbase at $174.53 or that order would be off of the table. And I would also like to see some volatility coming into the markets or at least into the chart of Coinbase. Now, on a 15-minute closing basis, look to stop out. You'd look for another prior gap in the charts and or an existing gap in the charts. So, that would be an prior gap at $161.96. And then you have an existing gap that still needs to be filled at $160.52. So, those would be the levels that I'd I'd look to re-enter it at around 3:00 if we flush through this 174.53 level. Last but not least, Intel is moving today. We bust this thing out $9 $9, excuse me, $8.32 today. It's up. Up almost 10% on the morning session. If we can break up above 93, this is a great opportunity to institute a short on Intel. Doesn't, as you can see, it's above $93. So, I actually really, really, really like this as a not only a swing trade, but also a day trade. And I would actually look for a pullback to about $87.60. Now, by the time you're watching this video, if it's above 93, your next level of resistance is going to be the psychological level of 95. And then you can look to dollar cost average all the way up to a 100 bucks. Cuz that's going to be your really key uh major psychological level, the $100 whole round number, and I still see Intel eventually coming back into $54.73, previous uh pivot top. Price action hasn't come back down to retest it after this uh breakout. So, that's where ultimately I think Intel is going to surge down to. Thank you so much for joining me this afternoon. Uh hopefully we can get a couple different trades into our levels, so that way we can take them in the afternoon session. And like always, please make sure you're following, subscribing, liking, and sharing with those friends so that way they can get the same market information you're getting. And then here's uh the lower third for the Verified Investing Extras. I believe we actually fixed this. If you guys want additional chart information that you're not seeing here or on the game plan or Trading at Close, which Drew does an amazing job at it. So, check that out at 4:20, he goes live before you guys. But if you guys want more market information, subscribe to Verified Investing Extras. We have a lot of great content on there as well. Um we have commodities, stocks, crypto. Uh we also have market movers. So, again, trying to give you guys as much alpha as we can. All right. Last but not least, if you guys are interested, join us live in Apex Live Day Trading Room, where we go with you guys and walk you through each one of our setups um that we've actually taken already today. This is a great opportunity for you to learn additional information, um something that you won't find on YouTube or anywhere else. So, that's what I have for you guys. Thank you guys so much, and I appreciate all the comments. You guys rock. You guys have a great rest of your day. Take care. Yeah.