Watch List April 8th

Good Morning,

Yesterday we saw the major indices trade a very tight but choppy range with the FOMC minutes being released yesterday. The VIX continues to ease and this morning we are looking at a decent gap up for all of the major indices. That could change with the jobless claims numbers at 8:30 AM Eastern, and we do have Fed Chair Powell speaking at noon Eastern today which could also move the market. We also continue to see vry choppy rotation on a daily to sometimes hourly basis, which is making for a very challenging swing trading environment. Recently these choppy consolidation periods have tended to resolve to the upside. That seems to be the bath of least resistance, but we do need to be concerned that if the SPY in particular pulls back there are some gaps below. Overall we will continue to be long biased but in smaller position size while we are on all time high resistance. Here are some names that I will be watching today:


GE is consolidating nicely around its sma20 and vwap anchored to the recent highs with a TTM Squeeze on the 65 minute time frame. I like this on a pullback to the sma20 around 13.10 for a push up to test recent highs


MTB is consolidating nicely around its sma20 and vwap anchored to the recent highs with a TTM Squeeze on the daily. I like this from $153 to $154 for a push up to test recent highs and possibly break much higher


PBCT is another financial sector name that is consolidating nicely around its sma20 and vwap anchored to the recent highs with a TTM Squeeze on the daily. I like this over $18 for a push up to $20 or higher


SIX is a get back out there name that is consolidating nicely below its sma20 in a TTM Squeeze on the daily. I like this on a move over the sma20 for a test of the recent highs and possible break much higher


WU I am still watching closely from yesterday's wl

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