Market Prep: Semi-Conductors Blood Bath & Support Levels

$NVDA $AVGO $AMD $CRWV $PLTR $NBIS $ASTS $GOOGL $POOL $ORCL

Hello traders,

The market is still week and choppy. As we posted on Monday, QQQ still looked week and we saw negative total GEX and increasing put gamma. That’s now materializing and we’re indeed at the $605 level as of now.

Today, let’s examine some high-beta stocks and semi-conductors.

We ran them all through our algorithm to identify strong demand zones that could provide support and a potential bounce. If a name is still far from those zones with downside momentum, it presents a good shorting opportunity.

We analyzed: NVDA, AVGO, AMD, CRWV, PLTR, NBIS, ASTS, GOOGL. These levels also work well for options strategies, such as selling puts below the demand zone. We also have some trade ideas and setups + option flow ready for you on some financial stocks and biotech.

Let’s begin!