Momo Market Roundup, 5/12/2022 — $SPY/QQQ Failed Rally… $AMZN Insane Volatility… $TSLA 700 Break 

 May 12, 2022

By  spectre_trades

$SPY/QQQ Failed Rally

SPY/QQQ opened with a gap down and looked to make a move higher to recover some of their lost gains..

The gap down reversal play opportunity gave nearly at 7 point move.

This did not last long however.. As it neared lunch it ran out of steam and proceeded to fall flat on their face. This is why we love being two hour traders… you can see the risk reward…position.. And let it play out. Great potential on both indexes today. If you got short on SPY on the failed claim of the 394 level it made it just a few points shy of 384. Not bad at all. 390P was cheap at 2.24 and went as high as 6.6!

Where we go from here?  

It's anyone's guess.  Still seeing more weakness than I expected so one more big flush could be on the way.

$AMZN Insane Volatility

AMZN is slowly creeping down to our 2000 level we have been watching… but first it needed a little squeeze to burn off some steam. It reclaimed our 2080 level in the morning and made a higher low… this means long time. 2100 moved from 34-36 to 120!! Wow.

$TSLA 700 Break

TSLA gave us the 700 break in the morning for a nice quick opening scalp… or if you waited for the reclaim it did basically the same as AMZN. A nice fast aggressive squeeze. 720C moved from about 17 to a high of 46… not as great as AMZN but still nice!

Two Hour Trader Student Results

Keep it up with the consistent results!


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

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