Watch List April 21st

Good Morning,

The market is pulling pretty sharply in the premarket on continued weakness from oil where we have a serious mismatch of supply versus demand. We are seeing the SPY test the 275 area in the premarket which was strong support last week. This is a critical level of support that needs to hold in my opinion or we will likely see some more downward pressure with next support area not until 270, 265, and then 260. I will be very patient at the open to see if this dip gets bought or not before deciding whether I will focus on short or long setups today. Here are a few names that I will be watching:

DBX made a strong move yesterday pulling away from its sma200. i would be interested in this long on a pullback, test, and hold of that sma200 for a move up to $22 or higher

YELP is in a reversal pattern with a nice TTM Squeeze on the daily. I like this on a pullback and hold of the sma20 or even just the ema8 for a long trade up to the 22.50 area or higher

GLD is pulling some on this oil news as but ultimately should be a good safe haven here. I like this on a pullback and hold to its sma20 for a trade back up to the recent highs

XLF is a name that I am watching for a potential short. Banks started reporting earnings last week and so far the results and market reaction has been underwhelming. I like this bank ETF short on a break of $21 for a move down to test $20 and possibly go back to the recent lows

AAPL is showing a little relative strength on some news this morning, but I don't see this getting any follow through unless the market finds some support. I'm interested in AAPL short on a failed red to green move and a market breakdown

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