Watch List for April 7th

Good Morning,

We are seeing another gap up for the market today and in this case we are gapping up into some key potential resistance levels. Looking at the SPY we have the ema34, vwap anchored to the all time highs, and the top of an ascending wedge all right around the 272 area where it is looking like we will open. It will be critical today to see how the market reacts to testing those levels from both above and/or below. It is also very interesting to note that the VIX is really hardly moving this morning with the SPY and all of the other major indices giving a large gap up. I have a list of names that I will be watching for both short and long setups depending on how the market reacts to this open:


FB I am interested in adding to my FB puts swing trade per my plan if the market and FB find some resistance after the gap up this morning


KL is a gold name that I like long on a pullback and hold of the ema34 and then push back over the sma50


AAPL I like short on a break down below the ema34 at around 266


RCL is giving a huge gap up this morning and I think this could give a very nice short opportunity. Ideally this pushes up to the 36 area and gets rejected for a swing trade in puts


KR is a corona play that is seeing a huge uptick in business lately. I like this over 32.80 for a push up towards recent highs around $36. I would also be interested in a pullback and hold of the sma20 for a really nice risk reward entry


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