Pre-market setup for December 11 focusing on SPY technicals and two trades. Google shows bullish bias above $188.13 with targets at $189.50 and $192.50-$194. Intel is bearish below $20, targeting $19.79 and lower.
Chapters
Good morning, everybody. It is Wednesday, December 11th, and we've got some economic news this morning. We've got CPI numbers at 8:30 Eastern, so that should be some market volatility. One thing, when we're looking at the S&P 500, well, this is the SPY. We, we've got the top of a trend line here. We're pulling back. We've broken below the 8 EMA and the 4. So we'll have to see if we can come down to the 15 and the 20 on a daily timeframe. So pre-market, it's a little early. SPY's not doing too much. It's pushed up a little from the previous day into the candle. So if we wind up turning downwards, we, on a daily timeframe, we can come down here to 601. $598 and then down to, I would say, $592, something like that. It's, um, the ATR on the SPY is currently 40, so for it to move $4 or $5 in a day, that's not really a big deal. And then here we track the late trades. These are ones that are traded cross-desk. They can be reported up to 24 hours late, and these really move the market. So when we look at these sorts of things, There's 41 trades yesterday at 6:04:42 for $5.5 million. And so that's a $3 billion trade and we're actually below those. So these ones here, we're below $5 million, $1 million, $4 million. So we just need to be cognizant of these sorts of trades. And then, you know, if you have MOBI, you can just plop them on your chart and set up your trades and they're all there so you can see them. So it's been relatively light except, um, 5 million, you're more interested in ones that are 10 million. But 593.47 here was a 9.7 million back on November 15th. So the question that we always get asked is, how good are these trades for? Because they, they wind up being support and resistance. And the answer is they're good until they're not, which means that if the price action just blows through the old print level without stopping, slowing down, hesitating, then It's no longer good. These are fresh. They're fresh in our minds. They're fresh historically. So I believe they're still good. So we need to put these lines on our chart at some point. Okay, so let's go ahead and look at our 2 stocks. We've got Google and Intel. And if we look at Google here, we see the massive volume yesterday. It had gapped up and look, we're above all of these prints: 2 million, 2 million, 1 million, 2 million, 3 million. And then yesterday, December 10th. We got another 185.17, and that was almost at the close there. And now we're moving up. So remember, we're going to have the volatility today. But if we look at it this way, Google, we're bullish above 188.13, which is this pivot here, and target 189.50, 190.60. And we'll see because we've got some room above there, 192.50 to 194. If we clear this, there's lots of room to the upside right now. Bearish below 185.50, we'd actually have to come back down here, and then we've got some room to scalp 184.67, 184.49, 182.11. We would come back and then we could come down here, and then if, if things are terrible, then we've got this room all the way back down to 179, something like that. Okay, the next one we want to look at, at Is Intel. It has been absolutely crushed. Look at this. December 5th, 28 million. And then on top of that, another 2.5 million on the same day. And then on December 6th, there's another 2.7 million. So whatever that is, 28, 30, 37, 39.5 million all around $21. Well, this 7 million was at $24.16. So we can see that these prints started coming in here October 29th, and we thrusted up. That's usually the pattern with the dark pool. We'll move up and then we'll splash down. You move in the opposite direction usually first, and then we've come down and it looks like here there was another 6.5 million. Look at this. 6.5 million November 1st. October 29th, and now we're moving down, so it looks bearish. So that's on a daily chart. So if we look at it this way for Intel, we need a bullish above, like if we're gonna retrace a bit during the day, cuz this is a day trade, we're bullish above 2050 and then up here to 2066, up to 21. Now that's a 28 million print here at $21. So that's 80 cents above, and then that'll be our target. We'll have to see. For those of you that are new to the dark pool, just watch to see what happens when it targets this thing. And then bearish below 20, target $19.79. So we've gotta get through all of this mess here. These are like guardrails. So we'll go bearish below 20. We'll try and get down to $19.79, $19.66, $19.45. You know this depending how strong this trend is. If it's pushing down hard, if we're riding this four and the eight all the way down on the five minutes, then this will bottom out quite well. Okay, so there you have it. There's two trade setups, and don't forget about CPI this morning. Hopefully you enjoyed this video. Don't forget to like and subscribe. If you have any questions or anything, just. Leave a note on the channel. All right, happy trading.
