Watch List April 30th

Good Morning,

The weekly jobless claims numbers just came out, and although new claims were less than last week, the numbers were slightly worse than expected. The market is not giving much a reaction here in the premarket. Yesterday we had the FOMC rate decision and press conference, and the market was quite pleased with Chairman Powell's remarks in the presser. The SPY was able to push up through those key Fib levels from 290 to 292 yesterday and closed just above them. If this level holds and the market tried to go higher, we could see a test of the sma200 up around the $300 level, which would also fill another gap. The other thing worth noting this morning is that the VIX is up almost 4% in the premarket. I will be keeping a close eye on this today to see get a better sense of whether the market wants to test higher or if it might be ready for a bit of a rest. I have a short list of names that I will be watching today:

DAL Keeping an open mind on this one as its trading between two anchored vwap levels. Ideally this pulls back and fills the gap and tests the lower vwap level around $25 for a long entry, but I would also consider this short if it tests and fails at the upper anchored vwap level around 28.50

MX is building a very nice base of anchored volume by price in a TTM Squeeze on the daily. Ideally I like this on a soft open and would consider going long on a red to green move for a push up to $14 or higher into their earnings on May 6th

XLNX is another name building a nice base of anchored volume by price. I like this on a pullback and hold of $91 for a push up into the gap above beginning at 92.24 and closing around $97

PTON is a name that I like on a pullback and hold of the $30 level for a push back up to test $32 for a possible breakout back to the recent highs

CGC is very much like DAL in that it is trading between two key anchored vwap levels. I would be interested in a long it it tests and holds the lower vwap at 16 and I would be interested short if it tests and gets rejected at the upper vwap around 18

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