Dave Barnhart breaks down pre-market trade setups for SPY and BABA using institutional volume prints, moving averages, and specific support and resistance levels to identify entry points and price targets.
Chapters
Good morning, traders. It's Thursday, January 22nd at 4:12 AM. All right, economic news today, 8:30, jobless claims, GDP growth rate, uh, quarter over quarter, some more jobless claims. Then we've got personal income, uh, core PCE at 10. So personal income core PCE numbers at 10 o'clock. So I've got 2 stocks for you today. We need to talk about the SPY, and then we've got BABA as well. So let's go ahead and have a look at the SPY. So I put the, the largest late prints in the last 60 days. So I wanted to show you this. We've had this accumulation or this whatever sideways pattern for quite a while. And look at the size of these prints, 6 million, 4.8, 7.6, really nice 12.1 million. We'll get to that. And then down here, 4.9 million. So you can see when we got these prints, this is exactly how the institutions work. The selling back to here, right? Then we get this 4.9 million going up to the prints, pulling back, tagging prints, moving higher. They pulled back here. This was the tariff news, but this was the interesting thing. The 12.1 million right here, we hammered on that. Uh, when we had this down day 2 days ago, and then yesterday we opened, pulled back and started. We opened just above this print, this 12.1 million, pulled back, and then there was news. I guess the tariffs were canceled or whatever. And then this, this shot up. And then, so today we're continuing up and look at all of these prints that we have came back and tested. And breaking above 12 million, 5, 4, 7.9, 6.4, 5.1. So looks like we're probably heading towards 700, maybe the top here, 695. Let's see if we can make a new high. So let's map this out on both sides. So here we're just testing some prints here. Look, the 7.6 million and 6.9, this is strong out of the gate. We're going to be bullish above $6.90. 12, give it an 8. We need it to test this R1, pull back maybe, and keep going if it's strong. You see this 4 and 8 exponential moving average separating with this momentum. It might blow through some of these levels if it's really strong. Target $6.91. 23 is a CAM. $6.91. 61 is a 4.8 million share trade. $6.92.50. 693.89 is a 6.6 million print. 694.69 R2. 696.12 is a CAM. Then we have 690, 750, 700, 702.50, and then 705.30 is R3. Okay, on the downside, we're going to be bearish below 688. Let's get below here, uh, target 687.34. $686.37 right down here. Then we've got $685, $684.43 is a CAM, and then $684.09 here is the pivot. $683.53 is this 5.1 million shares, and we've got another, we've got another $683.46 is this CAM here. It's also my 200 exponential moving average. And then we've got, uh, 682.48, 681.78 is a 6.4 million, and this is my 200 simple moving average. And then I put 680 as a retracement down here. So that's the SPY for you. This was kind of sneaky. Everybody gets in bearish and then boom, takes off, goes right against you. So anyway, they needed All the retail shares here for people to go short. Now they gotta cover. So let's see what happens with this today. The next one up is Baba, and we'll switch back to our market hours here for Baba. Look at this one absolutely take off. So we were bullish above— oh, it's already blown through In the couple minutes it took me here, it's blown through. I was bullish above 177. Let's go ahead and change this. We're already at 177.50, so let's do 181 target, 182, 184, 184.88 is R5, 186.25, 187.50 right here, and then 190. So that's a $10 level. Same thing, if this continues and it's not stopping, then stay in the trade there. So on the downside, we're going to be bearish below $175. Target $174, $172.95 is a CAM, $172.27, $171.82, $350K print here. $171 is a $336K print, also a CAM. $170 47 is this R1, and it's also the retracement to this 4 exponential moving average. So we'll see. And it's also this here. Hopefully these candles here on the daily would then be support if we come back and test this level, maybe, and then move higher. All right, there you have it. Those are your trade setups for today. So please like, share, subscribe, do all of that great stuff. up, and we will see you later this afternoon with our results video. Happy trading. MobyTick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
