Watch List April 23rd

Good Morning,

All eyes this morning are on the jobless claims #'s, and they have turned out to be a bit of a non event. Sadly the numbers are still very high, but they were pretty much as expected. So far the market is not seeming to react much at all to these numbers, and I think it will be important to see how the news gets digested at the open of the regular session. I have some long and short setups ready to go, and I will be patient waiting for the open to settle in before looking for any new trades. Here are some names that I will be watching:

PTON is a name we have been watching often the last few weeks and is potentially giving another long setup here. Yesterday PTON gave a red standard candle and a green TrendSpider raindrop candle which is usually a bullish sign. I like this from 31 to 31.50 for a push back up towards the $35 area

USFD is building a nice base of volume for a move higher as its has so far successfully held its sma20 on a little pullback. I like this on a soft open and hold of the 18 area for entry for a move up to $20 or higher

WDC is a name I like short as it is showing a lot of weakness relative to its sector and has a 3/8/20 cross down with a TTM Squeeze on the daily. Ideally this opens strong and meets resistance at the ema8 or sma20 for a nice short entry

NLOK recently took out its sma50 and then back tested and held a rising sma20 and is building a nice base of volume for a move higher. I like this over $20 for a push up towards $21 and possible break higher

BA continues to be an attractive short if it can give a strong open and fail at resistance which it just might be setting up to do today. I like this on a move up to the $138 to $139 area that finds resistance for a short entry

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