Space Summary
The Twitter Space PRE MARKET WATCHLIST – NEW WATCH $SPY $QQQ hosted by TheTradingChamp. The Twitter space delved into pre-market watchlist strategies centered on $SPY and $QQQ. Emphasizing the use of data, technical analysis, and Discord for real-time trading entries, the experienced host provides valuable insights for traders. Morning calls at 9 AM EST offer structured guidance, underlining the importance of experience in decision-making. Monitoring key market indices like $SPY and $QQQ plays a critical role in formulating effective trading strategies and understanding market trends.
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Space Statistics
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Questions
Q: How important is technical analysis in creating a pre-market watchlist?
A: Technical analysis helps identify potential trading opportunities and trends before the market opens.
Q: What role does Discord play in trading entries?
A: Discord enables real-time sharing of trading entries, fostering a community of traders.
Q: Why are morning calls at 9 AM EST significant for traders?
A: Morning calls provide a structured approach, helping traders prepare for the market open.
Q: What value does experience bring to trading decisions?
A: Experience enhances the ability to interpret market movements and make informed trading choices.
Q: Why are $SPY and $QQQ crucial in the pre-market watchlist?
A: $SPY and $QQQ represent key market indices, reflecting broader market sentiment and trends.
Highlights
Time: 00:15:42
Utilizing Data for Watchlist Creation Insights on leveraging data analytics for compiling an effective pre-market watchlist.
Time: 00:25:18
Discord as a Trading Community Hub Exploring the benefits of Discord for real-time trading discussions and entry sharing.
Time: 00:35:50
Importance of Morning Calls for Traders Discussing the significance of morning calls in setting the tone for the trading day.
Time: 00:45:29
Experience in Trading Decisions Highlighting the influence of experience in navigating volatile market conditions.
Time: 00:55:17
Focus on $SPY and $QQQ Understanding the impact of monitoring $SPY and $QQQ on overall market analysis.
Key Takeaways
- Utilization of data and technical analysis is vital in pre-market watchlist creation.
- Discord serves as a valuable platform for sharing trading entries in real-time.
- Morning calls at 9 AM EST provide structured guidance for traders.
- Experience plays a crucial role in making informed trading decisions.
- Focus on $SPY and $QQQ highlights the importance of watching key market indices.
Behind the Mic
The Complex Phenomenon of Wealth
It's on the outside looking in the phenomenon yeah soon you a genius looked in the mirror said don't let the money come between us I'm loaded at my earliest convenience I feel like I got ten middle fingers I'm sipping in this chin popping upwards gotta take this that give a flower color and some they wonder woman told me not to wonder the crumbs you only see them when the cookie crumble rich my candle steal it had to swallow my produce swag taste like spear milk because of the strap on them I never turn my back on could act like they cool with you but a lot of these be transforms a lot of these players best won't the game ain't easy but it's fat I'ma sit in this throne so long till it's a rockin'channel playing my relax home baby don't stress out but I got a lot of on my mind you say let's work yourself out feedback yeah back in his turn you left like you knew this back in his anybody else like you see the you are psychic cause you said every day is like this they want a piece of me I ain't the one that doesn't like this please swallow I have myself dirty diapers wriste.
Market Update and Weekly Outlook
Good morning y'all good morning. If y'all can hear me loud and clear y'all put a one in the court put a one in the chat if you're in the twitter spaces put a heart on the screen just like this right here if y'all can hear me loud and clear good morning, Britney. Good morning. Hope you guys all had a great weekend. We sure did. And you know, I'm looking for a pretty great week in the market. A few things I want about today is overall on the if we're looking at the larger timeframes of the market, last week we saw that we had a pretty decent size move down actually. Sorry. Yeah, size move down and then we bounce pretty high and now we're trading at all time highs once again. Right now I'm looking at us 500 which is just SPX basically for news. We do have FOMC minutes on a Wednesday so market's probably going to be chopping until Wednesday. When I say chopping, I'm just saying we're not going to find a large direction into Wednesday, I feel like. And then on Friday we do have core inflation rate. Inflation rate. Core inflation rate year so we have inflation rate year over year. Inflation rate year over year and inflation rate month over month and core inflation rate month every month.
Expectations Amidst Market News
So we do have news Wednesday and Friday this week. Actually that would be Wednesday, Thursday, and Friday. On Friday. We also have PPI month over month and a mission, consumer sentiment. So that's 3123 different days of news this week. So this, there's going to be probably some movement in the market this week. We're going to see a direction. Most likely our goal is to just find the direction and be able to play the trend accordingly. Last week we did pretty well. We only took one loss, I believe, for the entire week, which is pretty nice. Can't complain about that at all. But now let's go and see what we think spy is going to go next. So let me open this chat. Perfect. Okay, so before I get into my top watch, let's go straight into the levels on spy for today. So right now we're going to mark a few things here. Okay, let's mark a few things here. Let's mark our pre market highs here and our pre market lows.
Technical Analysis and Trading Levels
Okay, let me use this. All right, so our pre market highs are going to be here. We're also going to mark our previous die highs here, which is there. If the music is too loud, you can right click my name and you can turn it down. So the music's actually not loud at all. On my side, it's actually really quiet. But since you're on discord, it's just going to automatically think that you want it loud. So just right click my name and you can turn it down pretty easily. So premarket high, pre market low, which is here. And then we also have previous day high, previous day low. And what do I teach you guys about HTA higher timeframe analysis? Right. We go from the smaller timeframes to the higher timeframes. Smaller timeframes as in pre market higher, pre market low. Higher timeframes as in previous day high, previous day low, previous week high, previous week low. Right. This is our actual swing high and this is our support.
Market Behavior and Analysis
So we have a pretty clear direction of where we're going once we break these zones. And what I talked about yesterday, last night, if you were on Twitter, is I was explaining that, you know, I don't have a bias for this week because there's a lot of different scenarios we could see here. Anybody that claims to be a good trader isn't probably going to, is probably going to be trying to predict the market this week and say, oh my God, we're going down, or, oh my God, we're going up but in my opinion I'm just going to watch how we react to these levels. Here we have our pre market level set. Pre market levels as in 500 7134 as the resistance 569 45 as a support. Then we have previous day high and low which is 573 26 as the high. 568.07 is the low. And then we had the previous week high and previous week low.
Intraday Trading Expectations
The range high and range low in general is 565 and 575. Our entire range that we're trading between right now that we have not broken out of is 565 and 575. Until we break out of those ranges we're not going to see the market go anywhere. As of right now though I'm looking if we get a break of the pre market high which is that level of 571.34 I will look for upside up to 572.35 break of that we get that previous day high of 573.22. If we break today below 570. If we see a break below 570 today I'm going to look to short not 570. Let's say 569.50. I'm going to look to take shorts down to 500. 6807. Break below 56807 we have 560 519. I'm gonna go ahead and screenshot this. Let me get some volume in here.
Conclusion and Engagement with the Audience
Want to look at that. There we go. Alright. That's our spy levels for the day. And by the way if you guys have any questions or anything you have, you guys are wondering anything about these levels. If you guys do get access to our membership which right now you can get access to, it will give you access to get to our live trading call which our live trading call is where me and Britain are entering exiting trades.
Market Analysis and Trading Strategies
Trades, live screen sharing like I am here in the discord. All that good stuff. So that's for the more in depth overall. Yeah. If we break honestly if we break below 570 this week on spy I would be looking for a downside move from there. If we look at the weekly timeframe on spy here we can see that we did have a hanging man type candle and still did not close above or below the previous week's range. So use the previous week's range as a, as levels of interest here. Right. We have the previous week high in the previous week low. I would use both of these levels for points of interest and see if that's where the market decides to bounce or reject off those levels which is something that I teach all the time. I constantly teach you guys this, how these inside candles work. And how you can play them correctly. If you have been here for a while, you know exactly how to play these inside bar candles, and it should not be a problem for your trading strategy whatsoever.
Top Watches for the Week
Okay, let's get into some of the top watches this week. I don't have a lot of couple, and I'll let Britain get in his pretty quick. So number one top watch that I've been telling everybody that I have not spoke about much, but I want to go over is riot. So look at the weekly timeframe on riot. This is a smaller cap stock. Obviously, it does follow bitcoin here. So what we are looking at is a reclaim of this dollar eight level. If we can reclaim $8, improve that dollar eight is a level for us to hold. I'm going to be buying calls for upside up to 1312 to dollar 13 from there. If you guys can see, this is a pitch perfect breakout. Our setup that we're seeing broke out of these highs here, consolidating for quite some time. I mean, all the way since April 17 of 2023. So over a year now, a year and a half now that we've been in trading within this range.
Riot and Market Levels
So I would like to see that $13 level get hit. There's also some liquidity there from these lows here. I think it's a great level for upside. All we got to do is break $8 on riot to see more upside. That is a top watch for me is going to be riotous. Let me do this. Let me screenshot that. Okay, wait, I gotta put an arrow, then I'll screenshot it. I'm also sending to our discord members so they can get this. So I need to. I'm screenshotting these. That's why I do that. All right, next watch is gonna be Tesla. Tesla on the weekly finally saw a red candle. If you guys remember, Tesla was on, has been on a tear recently in the past 123-45-6789 weeks. We only have three red candles. So actually, that's a PrETty good percentage for green.
Tesla Predictions
And look at the green versus the red. The red is very small and the green is very large. Right? So in my opinion, we're going to see another green week. If Tesla does see a move above. Let's see if Tesla does see a move above. 253. 252.31. I'm sorry. If Tesla sees above 252.31. Mark that level on your. On your nose. 252. 50. If you want to be safe, breakup 200 and 5250 should send us a lot higher on Tesla to 259.70. That would be the next price target on Tesla. 260. Honestly, it'd probably be the next price target, in my opinion. Downside on Tesla is below 248.
Key Market Levels for Tesla
If we break 248, I would look for downside on Tesla. If you want to be more safe, 246 is a better level. But wait for a. Wait for after the 15 minutes, 1st 15 minutes of the market to make that decision, just in my opinion. okay, we have two more watches for y'all. So went over. We went over riot. We went over TESLA. I would go over coin, but we have a love hate relationship right now. let's go over Robin Hood. So this is trading at Highs right now. So I don't want to try to chase this, but keep an eye on this for a bounce, because anywhere between $22 and $23, we could see a bounce up to this $25 level would be a great play for upside.
Microsoft Overview
I know I said I was only going to go over one more, but we can go over two more. We also have Microsoft here, which is looking really good for upside. So Microsoft is hitting the bottom of its downtrend here. I would expect we see a bounce back into this 425 level from here to see where the market goes from those levels.
Discussion on Sofi's Performance
The last thing I'm looking at is going to be so fi. Sofi obviously had a really green day. We're in swings right now on Sofi. If you were here last week, I told everybody that I was buying calls on Sofi for a swing on this at the bottom of this candle. Literally, the very bottom, basically. yeah, I even marked it. It was right here, where we bought the calls, and obviously, they are looking very good. We're up 30% right now. 30, 32% right now. as of Friday on the swing trade, and I'm still looking for, you know, nine to $10 on Sofi from these levels.
Engagement with Audience
So, yeah, I'm gonna let Britain get into his watches. We are getting pretty close to that market. Open timer. If you guys do want to get access to see every trade that me and Britain take in real time. So that's every entry, every exit, every live stream, every single morning. Let me know in the chat, or if you're on Twitter here. Link in my bio. That is the place to go. We have over 47,000 total students that have joined the discord ton of other people in here that are hold each other accountable every day watching these live streams getting better. You can't be complaining about your trading game if you're not in the live streams. Every morning and learning and getting better every single day.
Membership and Discounts
I'm going to get in his watches. I'm going to mute up. If y'all do want a. If y'all do want a access to the discord, let me know. If you are in here. I can give you a discount code for 22% off. If you're in the tick tock. If you're in the Twitter, make sure you click link my bio and use code Twitter with all caps, and you also get 22% off. I'm gonna let Britain get in his watches. I'm gonna let you speak here, Britain on Twitter. We'll be good to go. All right.
Morning Thoughts and Watchlist
Good morning, everyone. So I hope everyone had a great weekend. I have three watches. Two are going to be ETF's, one's going to be an individual stock. Let's just hop right into it. Oh, I share my screen on discord. All right, can you all see my screen? Just type in one of the chat real quick. If you're on twitter, I posted this chart so you can kind of follow along. So go to my profile. Just look at this chart. Look at it real quick. But I'm gonna get into it. So my top watch of the entire week will be Boeing.
Boeing's Market Analysis
If you've been in these morning watch lists, like all last week, you've heard me talk about this every single day. Because if you look on the higher timeframes, Boeing is trading at a massive demand zone. The daily chart or the daily. The last daily candle actually looks very bullish. Looks like a hammer candle right now at this demand zone. But what I'm watching for is it to break above $156. So if Boeing breaks above 156, I'm expecting this to run up to 163, which is my first price target. Above 163, we should see it run up to about 100. 7172. I really love this setup because we have this falling wedge into the demand zone.
Boeing's Potential and Strategy
Just an a plus setup. Overall, we're definitely trying to base out above this 150 level. And then also, if you look on, like, the weekly, I mean, we've been knife and we've been falling for quite some time. So a relief balance to maybe even for this gap fill up to $170 is very. It could very well happen. And so I'm going to be looking for that. Let me fix this. Just move that around. But, yeah, even the EMA cloud on the four hour, it looks like it's flipping red to green. But I would really love to just see this go above 156.
Confidence in Market Movements
156. I'd have more confidence now I am Ra in this swing. I was in it around 100, $5150. If you're in the discord, I'll put it in my swing trading alert channel. So we should be up actually quite a bit today when market opens. Because I didn't take profits on Friday. I let it just ride out because, I mean, were going parabolic at the end of the day Friday, as you can see right here. But yeah, so Boeing should be up today, but I'm still looking for the overall bigger move on the higher timeframes.
Criteria for Market Strategy
This is invalidated if we go under $150. So I'm bullish as long as we stay above $150. Now, now that we're trying to break out on Boeing, I would really love it to not go back to $150.
Market Outlook
I would really love it to stay above about $154. So I might have a trailing stop on these contracts I have right now around that level. But other than that, I am very bullish on this. As long as it can just keep trending up, break above 156 and just let the rocket go.
Observations on IWM
So I have two more watches. Is IWM and QQQ. We're going to go into IWM real quick. So this broke out of this huge downtrend, I want to say a couple weeks ago, maybe even last week, early last week. But anyways, we are still trading above that downtrend. And it kind of looks like IWM is making some type of flag here, some type of pendant, falling wedge, whatever you want to call it. But it's just trading between these two trend lines.
Key Levels for IWM
If IWM can break above this previous high, which is $220 and about $0.40. Yeah. Then I'm looking for a move to about 224. To about 224. Yeah. Now, if we keep rejecting this level, keep rejecting this trend line, then I'm looking for a pushback down to about $216. I'm probably not going to play IWM if it keeps trending between, let's just say, 220 and 216, I'm probably not going to even look at it. But once we see a breakout of 215 or 220, $0.40 turn $20.40, then that's when I'll probably play it because then that's when we're breaking out that trend and the next leg up or down will be validated.
Monitoring IWM
But yeah, I just wanted to show you all this chart we are following wedge bull flagging right now. Keep an eye on IWM. I'll probably be posting this throughout the week and monitoring it for a potential play. But let's go into QQQ is gonna be short. I just wanted to talk about how important this 483 level is. So last week, if you're trading with us in the discord and all that good stuff, we kept talking about this 483 level because we kept rejecting it.
Importance of the 483 Level
We rejected it once, twice, three times, and finally broken. Broke out around Friday, I think. Yeah, I think it was Friday we broke that 483 level. So if QQQ can hold 483 as a support now, we should continue to trend upwards. But if we break under 483, then I'm personally flipping back to bearish, and I would like for it to go to about 478. That's my bearish thesis, but it has to go on 483 if that happens.
Bullish Scenario for QQQ
Now, stay above 483. I'm looking for a push up to about 489, which is the top of this, like, weekly or daily range. Yeah. Oh, that daily candle. I didn't even see this daily candle in QQ. It's pretty crazy looking, actually, but, yeah. So the plan for this week is QQQ. Watch that 483 level. That's going to tell us a lot, whether it's bullish or bearish.
Boeing and Trading Strategy
Now, let's go back to Boeing. Boeing, break above 156. I'm going to play more calls on it, and I'm going to look for that push to about 163 iwm. I'm not touching it until we can break above 200, 2040, or 215. Break one of those two levels, and that's when I'll play it. But that's really all I have, guys. I'm ready for a great week with y'all, but, yeah, I'll see on the live trading part of the discord part of the disc.
Engagement and Learning
Yeah. Awesome. So again, if you guys do want to see every trade that we're taking in real time, we are in the chats every week, every day, passing funded accounts, passing combines, withdrawing, you know, getting profits out of funded accounts, trading options. We don't just trade futures. We don't just trade options. We do everything together every single day. That's what we're about.
Community and Support
So that's the good thing about us. Whether you're trading options, whether you're trading futures, hell, whether you're even trading stocks in general, that won't, you know, this can't we all, ours can't help you as much with regular stocks, but you can at least understand where the market's going, right? If we're playing upside on Es or NQ and you want to play options because you don't have futures. You can buy a zero DTE options trade, right? And you're like, well, champ, I don't know what to buy.
Invitation to Learn
That's why you come in the discord and come learn from us. That's what we're going to do is we're going to teach you exactly what we know and what we do every single day. Right? We're not going to guarantee you to make some money and some income. You're not going to be able to just walk in and make ten bands a month and, you know, become that person. But you are here to learn a high income skill that can last forever.
Final Remarks
So again, if you guys do want to get access to that and want to put in the work and put in the time, make sure you guys click the link in my bio. If you're here on Twitter, you can use code, Twitter in all caps for a special discount code for anybody that's listening. And if you're in the discord, you can do the same thing or you can just add me in the chat and we can send you a link and get you set up. Market opens in about five minutes.
Closing and Next Steps
We're going to take a quick pause. I'll be live. I don't like to trade the first 15 minutes, so I'll be live after the first 30 minutes to an hour. So in the next hour, I will be going live for the rest of the morning showing you guys every entry and every exit that I'm taking myself. So I'm going to be posting my spy levels and analysis right now for all the discord members, the premium paid members. Sending that right now to all of them as well as my top watches and main focuses for the day.
