Sunday Prep (May 16) with RickyAnalog

How I plan to make money this week. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

SUNDAY PREP with RickyAnalog VIEW COMPLETE SUNDAY PREP HERE Alright everyone, it's that time of the week again. I'm watching the following names: $ES / $SPY, $NQ / $QQQ, $BTC, $KSS, $WDC, $LITE, $ABNB, $LMND, $ACB, $NIU, $PRPL, $WMT, $HD, $BIDU, $M, $TGT, $LOW, $ADI, $CSCO Before we get into the meat and potatoes, I want to take a second to remind you that as you read through the prep, keep in mind that we NEVER know what a market is going to do, nor do we need to. That is not our job. Our job is to make plans for all situations so when things unfold, we don't have to think, we just react. The key word there being REACT. These ideas are nothing more than a series of if/then statements. Also, keep in mind that ALL of these ideas will still be completely dependent on what the broader market is doing. If we start losing levels discussed on the ES/NQ, then long ideas will most likely be put on the back-burner and focus will shift to the short ideas. Always remember how important the backdrop of the broader market is to your trading.

BROADER MARKET $ES / $SPY (Daily) So far the bounce from the 50d has been nothing short of impressive. Do I think we're out of the woods yet? No, not quite. As of the close on Friday, we have simply pressed back up into the 20d from below. Will previous support turn into resistance? Very well could. I think it's highly improbable that we just blast back up to new highs. What is more likely is that we put in a short term lower high. But what will really matter is what happens after that. Do we pull back and start to make higher lows? Or do we head back below last week's low? If we can start to put in the higher lows, then there is a chance that the worst is over and we can resume the seemingly never-ending bull market uptrend. If we lose last week's lows, then I think we head down to test the 3960 area.

$ES / SPY (120 min) The 120m chart shows the levels of interest. If we shove hard into 4200 I would be willing to look at names with relative weakness for possible fades. If we flush down to 4116 I would be looking for strong names that are testing support levels for possible longs. The other levels a bit lower of interest are 4083 and the 50d around 4056.  $NQ / $QQQ The Nasdaq has finally started to find a bid, but it still is lagging far behind the S&P. We have now rallied straight into the underside of the 50d as well as the area we broke down from last week. Even if we are able to push higher, it still faces an uphill battle with the 20d and monthly pivot looming just overhead. Any hard move up into the 20d and I will be looking for weak tech stocks that can offer a nice fade. If we flush hard down to the quarterly pivot around 13065, I would possibly be entertaining buying any tech names that have some relative strength for a bounce, but I would most likely be quick in taking profits on these types of trades until the Nasdaq really firms up. Till then, I have to play defense and protect my capital. If we lose last week's lows, could be 200d bound.  $BTC Last week's report said "This long needs to take this back to highs though. If it can't and then we come back down and lose the 4/25 low, it could be lights out for the crypto-behemoth." As you can clearly see, we have done just that. It's definitely trying it's best to not fall off a cliff, but you would be naive to think this isn't extremely vulnerable here. The obvious level of support below is the 200d which also have the monthly, quarterly, AND annual pivots all congregated right around the same area. Any pops back into the underside of the 20d/50d should offer resistance. Again, I don't trade crypto, but I follow this similar to an index in order to be able to trade crypto-related names like $MARA, $RIOT, $SOS, $CAN, etc.

LONG SETUPS Strong Stocks Looking for Continuation

$KSS $WDC

LONG SETUPS Oversold Reversion Setups

$LITE $ABNB

SHORT SETUPS Weak Stocks Looking for Continuation

$LMND $ACB

SHORT SETUPS Overbought Reversion Setups

None that catch my eye

EARNINGS PLAYS

$NIU $PRPL $WMT $HD $BIDU $M $TGT $LOW $ADI $CSCO

VIEW COMPLETE SUNDAY PREP

To make sure you keep getting these emails, please add support@truetrader.net to your address book or allow list. Want out of the loop? Unsubscribe. 30 N Gould St, STE 3064, Sheridan WY 82801