Watchlist 2023-06-14 $ORCL $NEXT $RIVN $CMA

14 ביוני 2023

SPY has been rallying into the FED Interest rate decision today, so keep in mind that the expectation is for the fed to pause interest rates. Therefore, if we get a hike, maximum short is in play, especially for the high beta names that have been rallying, CVNA, UPST, AFRM.

If we get a rate pause, then it's unclear what will happen, my estimate is that there will be profit taking but room to play the momo in both directions, until 2.30 when the trend typically establishes.

IF, big if, we get a rate cut, it's long all day, my section would be for the high beta chip names but anything tech will be fine.

For further confirmation of a trend day, watch for:
ADD pinned near +\-2000
VVOLD ratio over +/- 3
TICK cumulating past 0 wicking to +/-900

NEXT - Shares of NextDecade were up almost 12% after the company, which develops and sells liquefied natural gas, struck an investment deal for the Rio Grande LNG project in Texas, and agreed to sell a stake of itself to French oil giant TotalEnergies. If NEXT can find support and then get over VWAP, there is a potential trade here to 7.37 - as long as it doesn't sell off dramatically on the open which Is likely after rising 4 ATRs. However, all the seller got out all the way down to 5.13, which is why they could be caught off guard today and we COULD see a quick rally off the open as well.
Support 6.37
Resistance 7.37
Inflection 6.75

ORCL - looking weak after a capitulatory top on earnings. 2nd day play in effect below 116, risking over PM high or the open, whichever is higher.

Support 116,108
Resistance 124
Inflection 117

RIVN, on support at 15, or above 15.76 if the rate are paused and we get there from a base.

CMA - RVOL over 2, over 44.25 is a long

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