The Big 3: AAPL, NVDA, CVX

to trading 360. I'm Marley Kayden. It's time for the big three. We've got three stocks and three charts for you today. Rick Duquette will take us through those charts here to take us through the trades. Timbo and Chief Technical trainer@stockstotrade.com. Tim great to have you on. Happy Friday to you. We've got a bit of a mixed picture here in the markets. We've got the Russell and the Nasdaq higher now the S&P and the Dow still lower on the session. And we got a far better than expected jobs report for August. So how are you looking at the market action that we're seeing today. And also for this first week of September. You know love it. You know you know Marley Rick knows you know, people that have watched more than one of my segments know that, you know, I've called it the golden age of America, the resurgence of America. I was not surprised by the jobs number. I think so many people I don't know, so many people need to like, as much as I'm on the internet all the time, people need to get off the internet a little bit and get into the real world. I just see manufacturing AI, you know, all of these things to be the stock market. I mean, the overall stock market. I mean, sure, we've been kind of sideways this week, but, you know, all of these investment opportunities, like the boys in El Segundo, Palmer Luckey, I mean, there's so much innovation, especially in the youth. I mean, like, to me, like the future is just unlimited space. I mean, we, we make the jokes about how bullish I am space. There's so much to be excited about. If you, again, maybe get off social media, but when it comes to the actual market, you know, it's just one of those situations where, you know, and I've talked to, you know, people that I trade with all week, you know, it's just that kind of that holiday week. I mean, we know the reality. The reality is just a lot of people aren't really trading a lot of the big guys, you know, hey, they're off enjoying that last week, last weekend in the Hamptons. And you know, when I look at the sideways we've had this week, I'm not surprised by it. You know, pretty much every year as we head into Labor Day, there's that kind of calm before the storm where the volumes drop. The, you know, the moves aren't as pronounced. And it's just kind of just like this week. Now, that being said, very, very excited for fall. As much as I hate to see the leaves change change in colors outside my office window already, I just look at the environment that we're going into. As you know, from a trading perspective, okay, whether you know, from a market perspective, very, very bullish. I mean, I know I'm kind of like that every week, but we finally got through the summer lull. Everybody's going to be back, you know back to work. Kids are back to school. Vacations are over. I prepare I'm basically prepared to not leave this trading station for about six straight months, because I think the opportunities are going to be off the charts. All right. So then let's dive in to your first pick here. You said you were excited for September, and this name has an event coming our way next week with Apple and their Sun Rise and Shine event. I do like the title for it. We may get some new phones, perhaps a foldable iPhone. We've also got a new CEO at the helm. So how are you looking at Apple now, Tim, as they move into this next phase of growth with John Ternus at the head. Yeah. So you know obviously the iPhone is kind of what everybody thinks about now. You know this is that narrative I've been talking about, you know, kind of going back six plus months or geez, actually nine plus months of Apple as the kind of sleeper AI play. Now I'm excited for the Apple iPhone. I buy the new one every year. Wife gets new one, the kid. Now I just buy four of them every year, which obviously helps Apple. But what I'm most excited about is these new Mac Studios, Mac minis, etc. and they probably won't get talked about much next week. You know, they'll talk about the iPhone because that's what, you know, the majority of people care about. But those have been announced. They're, you know, they're all on preorder right now. I'm sure everyone's seen the prices are through the stratosphere. I'm going to buy another one. Okay. But what I love about it is, I mean, sure, some, some of you guys saw, I mean, I think open I bought like tens of thousands of Mac minis and Mac Studios, which kind of explains the outage or anthropic's leasing them like crazy. I think that just obviously that helps Adam Apple's bottom line. And it might not be the big thing, the iPhone that everybody sees on the TV commercials and stuff, but that's the bread and butter. Okay. And on top of that, as you mentioned it, love this new CEO. I mean, I've been an Apple fan boy since I was a kid. I got my first Apple two back in 1984. Love Steve Jobs, love Steve Wozniak. The one thing I would say against Tim Cook, I mean, you look at the market cap and what he's done. He was an amazing manager. Okay. Kind of a bean counter. I call him like that guy squeezed every penny possible. Investors should appreciate that. But one thing I will say innovation. He wasn't really the guy. John Ternus, I think is going to bring back some massive innovation from Apple. So if you can't tell love this stock over the next months, years, really decades even. All right, Rick, we've been talking about Apple at length just because of the CEO turnover, the end of the cook era, the beginning of the Ternus era. But as far as the technical setup coming into this first major event with John Ternus as the CEO, what is our setup going in? I already invented a foldable iPhone. Unfortunately, it was because I slammed the car trunk down on my phone, but nevertheless, progress takes time so we can see that our our recent price activity after our earnings drop off has been an upward channel type shape here between our two white lines here connecting these lows and these highs. You could also say that overall, though, we are still in more of a downtrend. This is not really a good trend line. Good trend lines are at least three points together. I'm just trying to illustrate that we have a lower high so far following today's drop off here. Pretty much looks like it could be a bearish engulfing type of candle forming here, where our large red candle is swallowing up the prior day's real body of the smaller green candle, the distance from the open to the close. But we'll have to wait and see if there's further bearish downside follow through the next session. So a horizontal levels to watch to the upside 330 and 337 represent some gaps that were formed. We can also see a low here 313 as well as 300. So those are our points to watch out for. If we do start to move lower once more and start to push out from beyond our channel shape, there, our moving averages in this case show that we have crossed below our five day exponential moving average in dark blue, representing one week. We for now, seem to be perhaps solidifying near our 21 day EMA in teal, which represents one month that comes in near 31666 at this point. Beyond that, if we were to break lower out of our channel, the next more supportive area according to our moving averages would be our 63 day EMA coming in at 310. RSI is exhibiting kind of a triangular shape. Here we are between our two trend lines. Here we are on the verge of breaking below our green trend line here, which would also put us within a short distance of breaking below the 50 mid line, which would be more of a bearish development here. So our volume profile in this case shows that we have a node right about here between 308 to 314 or so. Another very small pocket of activity is around where we hit our highs near 328. So to the downside this could be a consolidation zone that could represent potential support. All right. Right now we are looking at Apple lower on the session. We're down about 2.8% for Apple at 31896. Here. Your second pick Tim is Nvidia had its blockbuster earnings. It finally bucked its multi-quarter trend of moving lower post earnings. We've hung on to that momentum. We're up close to 10% over the last month. How are you looking at Nvidia right now. Real quick. Not trying to one up you Rick. But I've got I've got a lot of hunting lands. I've got a skid steer. And about a year ago as a like a genius I put my iPhone on the track of the skid steer, proceeded to do a bunch of dirt work and I'm like, where's my phone? Fortunately, to find my iPhone still worked. So I turn it on. It's like Bleep and I've got my son out there. I get the backhoe out digging through have him filtering through the backhoe bucket and actually found it. It was like four feet deep. It was still on but the screen was smashed. Had to get it replaced. But anyway that aside you know Nvidia you know between this virtual inference router, you know, I know I get a little nerdy sometimes on these, but they announced that this week where they're building this router where again, whether it be DGX sparks and also Mac hardware kind of ties back to the Apple pick. You can basically set up this array of hardware and use this router to basically turn all of those nodes into one, you know, basically one combined computer. So very exciting that hugging face acquisition. Absolutely love that. I mean, I get pretty much all my models from Hugging Face. I think it was genius what Nvidia is doing to bring those local models, especially to the U.S. I mean, Quinn and Kimmy and all of these that are China based, I use them, but I would much rather use a US based. So between those two, plus the fact that I also made a point to wear my Lululemon in honor of Michael Burry, keep adding to that loser Michael. But anyway, between the shorts, getting smoked hugging face and Nemo Tron and what Nvidia is doing again, I know I brought this idea a week after week after week, but I love it more now than I did a year ago. Oh, hugging face that name. I will just never adjust to saying it. Tim. But you are truly a fascinating man. I'm going to start asking that every Friday. You come to us from a different location, just so we could see a little bit of the things that you talk about with us on a week. I want next week you to join us from a backhoe. Okay, I've said it. It's that's my request. I offered to do it from a tree stand last hunting season. Hunting season is coming up in a month. Let's not hunt anything, but you can join us from the tree stand. We'll we'll do that trading from the tree stand. We're going to call the segment trading from the tree stand. But as we look at the setup here for Nvidia obviously moving higher post earnings. The street really liked them accepted them. Was happy with the numbers we got. What are the technicals telling us going forward. Right. Rick. Sorry. Sure. And of course hugging face is basically GitLab for AI assets here. An online community where users can share and store this type of information here. So we can see here an old high. 23654 was the high water mark that we've seen so far. Another high that came in a bit short was around 232. So once again before today, it looked like perhaps we were maybe not going to make it above that level here. We kind of topped out near 231. For now though, we have made intraday highs that came in between our two resistance areas here. So kind of an interesting situation where we breached the the second to best high. But we haven't really taken out that old one just yet here. So we can also see now overall pattern is a rising wedge type shape here where our two boundary lines are converging toward each other, both pointing upward. A steeper slope going along the lows. So some notable horizontal levels once again to the downside, probably the gap forming right here near about 213214 would be a significant one. We've had such a strong rally recently. There's not too many other notable downside areas to watch until you get to that point. But another extreme low comes in near about 207. So in this case, moving averages are showing that there's no sign of the trend weakening here. We're still pretty firmly to the upside. You can see our moving averages are diverging farther apart. They're in order from fastest to slowest. The closest one is our five day EMA in dark blue right here coming in around 226. So that would be the first line of support potentially here. If we do start to breach it, it could be an early warning sign of trend change. So RSI not quite cooperating just yet either. We have not really broken above our red trend line here. We also haven't really made a strong new relative high. So those would be some things that many technical traders would be on the lookout for. To add further credence to any possible breakout. So volume profile, we don't have a lot of distinct nodes in these upper areas here. Kind of the best we can do in the shorter picture here is 218 to 223. There's a bit of extra activity. And then another pocket of activity here between 206 to 212. All right. Right now we're looking at Nvidia higher on the session up more than a percent and a half so far today at 23207. Our last one here is Chevron. We're down a little bit on the session. But just yesterday they announced they're going to continue to expand their operations in Venezuela. Is that part of why they're in your big three today, Tim. Yeah. You know, this is a you know, an idea they shared on the big three back in January. Loved the idea. Based around the Delta Force raid. Still amazing stuff. I can't wait for the books and movies to come out. But anyway, you know, this back in January was the kind of the idea that opening up Venezuela by, you know, replacing Maduro and opening it up to, you know, more, you know, and a freer oil economy for them versus being controlled. And then you look at, you know, the deals that the administration has been making, you know, and talking about now it's all really early, obviously got to see how that plays out. But you look at the chart from January to now, if that, you know, deal with Venezuela and what Chevron and is doing plays out, you know, I really like this as you know, my number one kind of oil and gas play. We'll see how hopefully Iran you know the situation over there comes to an end. But if that continues, I could really see, you know, again, the US leaning more towards Venezuela. I would rather just see all the oil markets uncapped and you know, none of this stuff. But that being said, strong chart going back to January basically broke out a couple of days ago pulled back a little bit. But if things play out like I think I think we're just getting started here. All right. Let's give credit where credit is due. We are up about 37% since you brought this idea to us. I think it was in the first week of January. So hats off to you. You called that one, right? I can see here the channel that we've got more recently through the back half of the year, moving upward, fully upward. We've had a little bit of a pullback, as Tim mentioned in recent days. But what are you seeing in the technicals. Yes certainly. But once again we are approaching those highs that we established earlier. 21471 is the mark to beat here. We have not quite made it there just yet. Now we have a gap to watch as well to 11. The reason we keep track of these gaps is oftentimes in trading they can be filled here. I'm certainly not saying it's going to happen, but there's a reason traders watch out for these levels. They represent a point where some underlying information changed or some kind of news occurred. A similar gap down here near 202, would be an area that many traders might have their eye on for potential support. If we do start to move lower and we fall below our trend line here in white, another extreme low here, relatively speaking, near around 198 stands out. We also had a short term floor here near 186. So our moving averages now a similar picture to our last chart. We can see that they are all diverging apart from each other for the most part, except the hiccup here is that our five day EMA is starting to turn downward here, so the divergence is starting to slow. Here we are on pace to close below our short term weekly exponential moving average here in dark blue. 20884 is where that one comes in. So if it does start to slip below this one, the shorter the moving average, the less reliable it is, the more prone it is to fake outs. But it's also the most responsive one. So that could be something to, to keep in mind here. If we do start to falter a bit, our 21 day EMA and teal comes in at 20266. It lines up very closely with our trend line here. So that also presents a notable potential breakdown point if you're bearish or supportive area if you're more bullish. RSI has dipped below our overbought area. That threshold of 70 here. Still we have our green trend line in play. So look to see if we recover back above that point. And if we continue to make new highs. Finally in this case there is one prominent volume node here. A spike in our trading activity between about 204 to 206 or so. So that stands out as a notable area. But the bulk of our activity comes in here between 182 to 193 with the point of control, our heaviest trading area of all coming in at 188. And right now we are at 20871 with about a percent and a quarter move to the downside today. But as we said, up more than 30% so far this year. Tim, always great to have you on. I hope you have a wonderful Labor Day weekend and enjoy the extra day off in