Momo Market Roundup, 5/09/2022 — $SPY Sub 400… $RIVN Lockup Expiration… $TSLA Picture Perfect…$AMZN 2000 Incoming… 

 May 9, 2022

By  spectre_trades

$SPY Sub 400

SPY had a little meltdown overnight and any pops were sold basically all day. Pretty soon we may be saying SPY 3XX instead of 4XX. That will be odd. SPY lost our 405 level in the morning so it was short city. SPX 4000P moved from 7-8 bucks to a high of 20. That is great work for a Monday. If you re-loaded later on during the VWAP pop close to the end of the day.. 4020P went from 6 to 40++. Wow.

$RIVN Lockup Expiration

RIVN insiders finally had the chance to sell some shares… as well as some of the bigger plays like Ford. It is amazing this stock was 150++ not that long ago. Now it has been officially destroyed like a lot of the market. The pops into our 26 watchlist level in the morning were the perfect short opportunity. If you took commons risking 50 cents you got an easy 1:8 risk reward by the end of the day.

$TSLA Picture Perfect

TSLA was an excellent this target… due to RIVN and the general market. It popped perfectly into our 845 level and never re-tested it all day. We love when that happens. 840P moved from 32 to a high of 60++ and we closed sub 800. Not looking the best for TSLA.

$AMZN 2000 Incoming

AMZN continues to be slammed day in and day out. It lost our 2260 level in the morning action for a short opportunity and it paid nicely. 2100P went from 14-18 to a high of 33 close to the end of the day.

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

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