Watch List April 13th

Good Morning,

Yesterday we saw some very tight range sideways chop in the major indices for most of the day before the SPY led the way up to new all time highs late in the session. This morning we are pointing to a gap down open after news that the FDA is recommending pulling the JNJ vaccine from the market due to clotting concerns. As I type here a little before 8 AM Eastern, we have all the major indices moderately down with the VIX up a bit. A lot could change when the CPI numbers come out at 8:30 AM Eastern as these numbers are being watched much more closely than usual with the market concerned about inflation and rising rates. Overall we remain in an uptrend but we will keep our exposure small while we sit on all time high resistance. Here are some names that we will be watching today:

ATH is in the currently strong financial sector and is building a nice shelf of anchored volume by price with a TTM Squeeze on the daily. I like this on a pullback to the sma20 around 50.50 for a push up to the $55 area or higher

FEYE is consolidating nicely around its sma20 and a key anchored vwap level in a TTM Squeeze on the daily. I like this right where it is around $20 for a push up to 21.50 or higher

LULU is making a nice reversal and is building a hug base of anchored volume by price. I like this on a soft open that goes red to green for a push up to test the sma200 and a possible move much higher

MTB is another financial name that I like with a TTM Squeeze and nice consolidation around its sma20 and vwap anchored to the February highs. I like this on a pullback to the $154 area for a push up to $165 or higher. Be aware that this could get impacted by other banks reporting earnings tomorrow and Thursday

SHOO is consolidating nicely along its sma20 and vwap anchored to the recent highs and has a TTM Squeeze on the daily. As a get back out there play, I want to see how this digests the vaccine news this morning, and it if holds up OK I like this from 37.50 to $38 for an entry for a move up to $41 or higher

17 views0 comments