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Momo Market Roundup, 3/15/2022 — $SPY Overnight Uptrend… $FUTU Oversold Bounce… $COUP Earnings Washout… $TSLA/$AMZN Dip And Rip Extravaganza 

 March 15, 2022

By  spectre_trades

$SPY Overnight Uptrend

SPY gave us a new low overnight but reclaimed our 416.6 watchlist level overnight. If you got long after the morning claim of 421 you caught a nice little move.. it took awhile but great gains if you held all day.  422C went from 3.5 to a high of 5.8 when we reached our 425.5 watchlist level.

$FUTU Oversold Bounce

FUTU has been trying to grind slightly higher from yesterday’s lows. However it is slow. Very slow. If you took the 25C on the reclaim of yesterday’s close you caught a nice double. Contracts made the move from 1.45 to a high of 3.1.

$COUP Earnings Washout

COUP reported earnings last night and gapped down about 20 points… We charted some levels for it and were watching for a gap down reversal. One of our favorites. COUP quickly claimed our 66.5 level which was also premarket highs. Giving us the confidence to get long risking to a breakdown of that level. The 70C made a quick move from 1.5-2 bucks to a high of 7 before double topping and seeing some profit taking. When momentum wanes that is our cue to exit with our cash.

$TSLA/$AMZN Dip And Rip Extravaganza

Both TSLA/AMZN offered quick drops off at the open right into key levels… TSLA the 760 area and AMZN the previous days close.. Both great risk reward long entries. 2900C moved from 30 to a high of 77 at our 2935 level... while 780C moved from 16 to 34.5 before exhausting at the 800 level.

Two Hour Trader Student Results

Today was a tough day for many of us, we were short biased, and the plays didn't get the follow through.  Tomorrow is another day. Reset, leave the bias behind, and play what the charts give us.

spectre_trades


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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