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Overall market comments and a new trade idea

Actionable Trade Ideas

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Yesterday we identified numerous setups with  MACD curling upward, suggesting further upside was likely. That thesis  played out today as we got a huge impulsive move up, taking many names  toward resistance zones noted yesterday.

For options traders, moves like  this spike implied volatility, making contracts very pricey to buy  intraday.

So if you’re long options, remember to focus on your profit  targets instead of waiting indefinitely for upside targets to hit. Days  like this are perfect for selling the rip, especially short-term and  out-of-the-money options. Take advantage of inflated premiums.

– J.B.

New trade idea $NVDA

A strong gap up today in line with the broader market, opening just  above the 10/12 VWAP pivot zone. A daily close above this area triggers  the bullish thesis targeting the upside gap at $449.12, especially as  MACD keeps curling up.

If we get any sort of support/resistance flip  tomorrow, watch the VWAP zone from $428.30-$431.50. A close below  $428.30 would invalidate this idea.

The key is closing today’s session  above the prior VWAP level from the recent pivot low. That keeps the  upside momentum intact for a potential move toward that gap fill.


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