Watch List April 29th

Good Morning,

All eyes today will be on the GDP report at 8:30 AM Eastern and the FOMC announcement at 2 PM and press conference at 2:30 PM As I type here at 7:40 AM the major indices are all up in the premarket presumably on GOOGL earnings sending that name up over 7%. Just like yesterday we still have some major resistance in the 290 to 292 area where we have a Fib cluster, and just like yesterday I will be very patient today to let the market digest the open. I will also likely be pretty quiet ahead of the FOMC announcement and press conference as this has the potential to move the market significantly, and I don't want to be entering new positions just ahead of that. With that, I will be looking mostly for pullbacks and holds of support for any new trade entries today. Here are a few names that I will be watching today primarily in the late afternoon:


DAL is one of many airlines stock that are starting to get some recovery after being very beaten down. It is just beginning a bullish looking TTM Squeeze. I like this on a pullback and hold of the $24 to 24.50 area for a test of a key anchored vwap level at $25 and a potential break higher


SDC is a name that made a strong move on volume yesterday and is loaded with shorts. Ideally I'd like to see this fade back to the $6 level which was previously resistance and hold that level for an entry and move back to $7 and potentially higher


KTOS is in an inverse head an shoulders pattern and in a TTM Squeeze heading into earnings on May 7th. I like this on a pullback to the sma50 and then move back up through $15 for a move to the mid to high $16s


SNAP is in a nice little flag coming out of its earnings beat last week. Ideally I like this on a pullback and then move back up through 16.50


CGC had a nice breakout over $16 the last few days. I'd like to see this one return to the scene of the breakout and hold that level for an entry and trade back up to the new resistance at $18


GLD is a name we took a starter position in yesterday. I am interested in adding to this position on a pullback and hold of the $159 to $160 area







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