Trading Ideas for Trading on April 15, 2021

Mish Schneider | April 14, 2021

New Buys: WFC Took Profits: N/A Closed Positions: N/A Stop Changes: ETHE NIO WFC New Targets: WFC Ideas I’m Watching: TLRY ATR 1.58 even though it sold off, it had an inside day so like it over 18.53 MSOS ATR 1.39 If holds 40.00 like over 41.47 after 2 inside days XLE ATR 1.13 Clearing back over the 50-DMA like if holds 48.23 and clears 50.00 APPH ATR 1.13 Big high-volume reversal-15.94 must hold and

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Why the Nasdaq 100 (QQQ) Needs to Hold Near Highs

Mish Schneider |

Written by Forrest

Tuesday, we talked about the Coinbase (COIN) public listing, and how waiting for the dust to settle would be a good plan as there is no prior price action or history to base projections from a technical standpoint.

The plan turned out to be correct as Coinbase’s initial rally turned into a selloff for most of its trading day.

However, Coinbase will continue to have increased volatility in the coming weeks as a days’ worth of price action does not provide much data for investors and traders to work with.

This means that traders will have to plan with a short-term mindset based on the range of the first day or continue to wait for the chart to develop.

Wednesday was not only a big day for the crypto space, but also for the Russell 2000 (IWM) which initially had a large rally but eked out a close just over its 50-day moving average at $222.84.

With next resistance at $226.69, it will need to clear this level if it wants to get back on track to new highs.

If it does clear $226, it will show improved momentum back over the 50-DMA along with its ability to follow the other major indices including the Nasdaq 100 (QQQ), Dow Jones (DIA), and the S&P 500 (SPY) which all linger around new high territory.

With that said, the QQQs should be watched as today it closed under its prior days low and therefore could be looking for a potential pullback if Wednesday’s move continues into Thursday.


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ETF Summary

S&P 500 (SPY) Holding near highs. Support 407.21 the 10-DMA

Russell 2000 (IWM) 219.39 support.  Resistance 226.69

Dow (DIA) 333.43 support.

Nasdaq (QQQ) Support 332.32 the 10-DMA

KRE (Regional Banks) Support 65.49.

SMH (Semiconductors) Resistance 258.59.

IYT (Transportation) 257.73 support.

IBB (Biotechnology) 145.69 support.

XRT (Retail) Needs to clear 93 then 96.27. 10-DMA support area.

Volatility Index (VXX) Watching to clear the 10-DMA at 10.57.

Junk Bonds (JNK) support 108.60 the 50-DMA. 109.08 resistance.

LQD (iShs iBoxx $Inv Gd Cor Bd ETF) Doji Day. 131.44 resistance area the 50-DMA.

IYR (Real Estate) Watching the 10-DMA at 93.98 as support area.

XLU (Utilities) 64.50 new support.

GLD (Gold Trust) Gap to fill at 164.14.

SLV (Silver) 23.78 resistance.

VBK (Small Cap Growth ETF) Flirting with the 50-DMA at 282.53.

UGA (US Gas Fund) Cleared resistance at 32.66.

TLT (iShares 20+ Year Treasuries) Watching to hold the 10-DMA at 137.41.

USD (Dollar) Doji day right on the 50-DMA at 91.58.

MJ (Alternative Harvest ETF) Needs to wake up. Resistance 21.55

WEAT (Teucrium Wheat Fund) Needs to hold over 6.30


Trading Ideas for Trading on April 14, 2021

Mish Schneider | April 13, 2021

New Buys: N/A Took Profits: ETHE WFC Closed Positions: WFC Stop Changes: N/A New Targets: ETHE Ideas I’m Watching: Lots of new 60+day lows are worth watching-mentioned DDOG TDOC ZM SPOT a week or so ago now in motion. Here’s more: SEED ATR 1.39-not great volume but over 16.73 great risk to under 15.18 TLRY ATR 1.63 Good volume-confirmation over 18.53 risk 16.28 area VIAC ATR 2.62 New low39.66 right near the 200-DMA Needs to

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How Does Coinbase Affect the Tech Sector?

Mish Schneider |

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Written by Forrest

The Nasdaq 100 (QQQ) has made new all-time highs on the heels of Coinbase direct listing on April 14th.

Coinbase is currently the most popular exchange for buying crypto and has attracted a large amount of popularity and hype before it releases as market analysts throw out wildly different estimates ranging from $20 to $100 + billion.

When it comes to new stock releases, from our perspective, the best plan is to wait for the dust to settle.

Without any prior trading history, highly speculative estimates can be fun to think about, but often do not have a good track record of helping position size for the unknown volatility that often takes place with a new listing.

However, Coinbase, which will be listed on the Nasdaq exchange as (COIN) has a deeper meaning than any other publicly traded company.

It brings yet another level of legitimacy to the crypto currency space which has gained a huge amount of momentum over the past 6 months.

Additionally, many banks have been working on creating infrastructure for crypto currencies along with companies investing directly into Bitcoin.

There are also companies that are willing to accept payment in bitcoin and other crypto currencies for goods and services.

On top of several traditional banks that have already been working on creating infrastructure and services for cryptocurrencies, there are also banks emerging with the sole purpose of providing cryptocurrency and fintech services.

With that said, COIN could give another boost to the tech sector as it will be one of the first publicly traded companies that helps people buy cryptocurrencies.

Its further adoption paves the way for large and new tech companies to join the tech space as more demand for cybersecurity, computer chips, crypto banking, and transaction software need to be created.


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ETF Summary

S&P 500 (SPY) New Highs.

Russell 2000 (IWM) 219.39 support.  Resistance 226.69

Dow (DIA) 333.43 support.

Nasdaq (QQQ) New highs.

KRE (Regional Banks) Needs to hold over 65.26.

SMH (Semiconductors) Resistance 258.59.

IYT (Transportation) Closed over the 10-DMA at 260.67.

IBB (Biotechnology) 145.61 support.

XRT (Retail) Needs to clear 93 then 96.27.

Volatility Index (VXX) Needs to find support.

Junk Bonds (JNK) support 108.59 the 50-DMA 109.08 resistance.

LQD (iShs iBoxx $Inv Gd Cor Bd ETF) 131.53 next resistance area the 50-DMA.

IYR (Real Estate) Staying over the 10-DMA at 93.76 and trending higher.

XLU (Utilities)  64.19 support. Needs to hold over 65.30.

GLD (Gold Trust) Gap to fill at 164.14.

SLV (Silver) Doji day. 23.78 resistance.

VBK (Small Cap Growth ETF) 282.47 resistance area from the 50-DMA.

UGA (US Gas Fund) 31 support area. 32.66 resistance.

TLT (iShares 20+ Year Treasuries) 134.97 support. 138.66 resistance to clear.

USD (Dollar) 92.29 resistance area. 91.58 the 50-DMA

MJ (Alternative Harvest ETF) Would good if this could get back over 21.55.

WEAT (Teucrium Wheat Fund) Doji day right on the 50-DMA at 6.17


Weekly Training Video for 4/13/2021

Mish Schneider |

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Trading Ideas for Trading on April 13, 2021

Mish Schneider | April 12, 2021

New Buys: N/A Took Profits: N/A Closed Positions: CAN 1/3 position still cost less than 1% of your overall equity if position sized correctly Stop Changes: NIO UNG ETHE WFC New Targets: N/A Ideas I’m Watching: CVLT looks good but I will keep powder dry for now Earnings: WFC 04/14 Entering Earnings season so time to check your dates. Notes: Existing Positions (always remember our 30-minute rule for stops)

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How to Read The Mixed Market Picture

Mish Schneider |

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Written by Forrest

Monday the Economic Modern Family which consists of 1 index and 5 key sectors showed mixed signals as half of the Family closed down for the day.

Currently, the Russell 2000 (IWM), Biotech (IBB) and Semiconductors (SMH) are down with Transportation (IYT), Retail (XRT), and Regional Banks (KRE) up on the day.

With SMH lingering in all-time high territory, IWM and IBB are the most worrisome of the bunch, as both sit near pivotal price levels made by their major moving averages.

For IWM the 50-Day moving average at $222.28 (Blue Line) and IBB, way weaker, sits above the 200-DMA at $145.55 (Green Line).

The key difference is their behavior around their moving averages.

For example, if you look at IWM, you can see that it has broken through its 50-DMA 4 consecutive times in the last 4 trading days.

IBB already broke its 50-DMA but now has respected its moving average.

Out of the 4 recent days it came close to breaking, it only broke once on March 5th.

This shows that if IBB breaks its 200-DMA and closes under, it will have much more meaning.

It could impact the IWM to finally break its 50-DMA.

Because IWM cannot be trusted to hold its moving average, we can look at the bigger picture as the 50-DMA represents more of a price range to hold near, than a specific price level to put technical weight on.

This means that for Tuesday’s trading session, if IWM decides to head lower it will need to hold recent support of $219.39 from the April 8th, while IBB needs to hold over its 200-DMA at 144.55.

If IBB does break under its moving average and into a distribution phase always watch for a second close under the moving average to confirm the phase change.

Watch Mish go through 10 symbols of key stocks reporting this week with actionable trading plans.

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 ETF Summary

S&P 500 (SPY) Made New highs.

Russell 2000 (IWM) 219.39 support.  Resistance 226.69

Dow (DIA) 333.43 support.

Nasdaq (QQQ) 338.19 high to clear. Support 321.40

KRE (Regional Banks) Needs to hold over 68.15.

SMH (Semiconductors) Bounced off the 10-DMA 250.07.

IYT (Transportation) New highs.

IBB (Biotechnology) 145.55 support.

XRT (Retail) Needs to clear 93 then 96.27.

Volatility Index (VXX) Needs to find support.

Junk Bonds (JNK) support 108.58 the 50-DMA

LQD (iShs iBoxx $Inv Gd Cor Bd ETF) 131.61 next resistance area the 50-DMA.

IYR (Real Estate) Held over the 10-DMA at 93.50.

XLU (Utilities) Doji day. 64.19 support.

GLD (Gold Trust) Held the 10-DMA at 161.78.

SLV (Silver) Watching for second close under the 200-DMA at 23.13

VBK (Small Cap Growth ETF) 282.30 resistance area from the 50-DMA.

UGA (US Gas Fund) 31 support area. 32.66 resistance.

TLT (iShares 20+ Year Treasuries) 134.97 support. 138.66 resistance.

USD (Dollar) Needs to hold over 92.00

MJ (Alternative Harvest ETF) Broke support at 21.55.

WEAT (Teucrium Wheat Fund) Failed second close over the 50-DMA at 6.17


Trading Ideas for Trading on April 12, 2021

Mish Schneider | April 11, 2021

New Buys: N/A Took Profits: N/A Closed Positions: N/A Stop Changes: CAN ETHE FTCV WFC New Targets: FTCV Ideas I’m Watching: IBM ATR2.25 This has to be more active, using 132 as a risk point and watching to see if 136.30 can clear USO ATR 1.67 It held the 50-DMA and has a clear risk at 38.70 area if clears 41.25 MSOS ATR 1.98 Like over 43.25 with risk to under 38.80 swing and under

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How to Navigate the Market With These 3 Symbols

Mish Schneider |

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Written by Forrest

Last week’s focus was the Russel 2000 (IWM), Transportation ETF (IYT), and Semiconductors ETF (SMH).

IWM has shown us general market direction and sentiment as it contains 2000 small cap U.S companies.

IYT is the backbone or demand side of the economy as the U.S opens with the increasing vaccine deployment.

Then comes SMH, which has been involved in this year’s tech boom, but also in one of this year’s biggest supply chain disruptions.

For a plethora of reasons from car manufacturing to increasing computer needs from the work at home environment to crypto mining, the tech space has been hard pressed for computer chips to meet demands of large and growing tech companies.

From a technical standpoint IWM continues to flirt with its 50-day moving average at $222.02

Last week, IYT started to drift lower making it look worrisome when paired with IWM which fluctuated between breaking its major moving average and holding its current price level.

On top of that, SMH has been struggling to break through highs at 258.59.

With that said, raising worries of inflation linger in the background of many investors’ minds.

Therefore, we have been watching the dollar index (UUP) along with precious metal and food commodities, like Invesco Agricultural Fund ETF (DBA) and gold (GLD).

If the dollar were to begin struggling and break the support of the 50-DMA this could cause fear as a weakening dollar buys less goods, thus increasing import prices which can lead to inflation.

DBA and GLD can also display signs of inflation as investors flock to their safety as prices increase.

As for the Monday’s game plan, we can watch for our 2 key ETFs and Index to hold, break, or clear their current price levels.

From a bullish standpoint, this means watching IWM to hold over its 50-DMA and for IYT and SMH to head back up to recent highs.

Here are this weekend's must-watch videos.

  1. Mish gives market insight on Cheddar TV
  2. Mish’s weekly StockCharts.com video

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ETF Summary

S&P 500 (SPY) At all-time highs.

Russell 2000 (IWM) Watch to hold over the 50-DMA at 222.02

Dow (DIA) 332.86 support.

Nasdaq (QQQ) 338.19 high to clear. Support 321.40

KRE (Regional Banks) Support 64.77 the 50-DMA

SMH (Semiconductors) 258.59 resistance.

IYT (Transportation) 263.33 high to clear.

IBB (Biotechnology) 145.50 support.

XRT (Retail) Needs to clear 93 then 96.27.

Volatility Index (VXX) Needs to find support.

Junk Bonds (JNK) support 108.58.

LQD (iShs iBoxx $Inv Gd Cor Bd ETF) 131.71 next resistance area the 50-DMA.

IYR (Real Estate) 93.33 the 10-DMA

XLU (Utilities) 64.19 support.

GLD (Gold Trust) 164.14 gap needs to fill.

SLV (Silver) 23.09 support the 200-DMA.

VBK (Small Cap Growth ETF) 282.27 resistance area.

UGA (US Gas Fund) 30.91 support area. 32.66 resistance.

TLT (iShares 20+ Year Treasuries) 134.97 support. 138.66 resistance.

USD (Dollar) 92.34 the 200-DMA

MJ (Alternative Harvest ETF) 21.55 support. More sideways price action.

WEAT (Teucrium Wheat Fund) Watching for second close over 50-DMA


Trading Ideas for Trading on April 9, 2021

Mish Schneider | April 8, 2021

New Buys: CAN Took Profits: N/A Closed Positions: N/A Stop Changes: GLD STNG New Targets: N/A Ideas I’m Watching: IBM ATR2.25 This has to be more active, using 132 as a risk point and watching to see if 136.30 can clear USO ATR 1.67 It held the 50-DMA and has a clear risk at 38.70 area if clears 41.25 MSOS ATR 1.98 Inside day. Like over 43.25 with risk to under 38.80 swing and under

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