Watch List for April 8th

Good Morning,

We are looking at a moderate gap up in the market this morning relative to the new normal that we are used to lately. Overall, not much has really changed for me since yesterday. Looking at the SPY we still have the ema34 and vwap anchored to the all time highs to deal with to the upside, and until and unless those get taken out, I remain reluctant to go long much of anything other than virus plays. Today we have FOMC minutes at 2 PM Eastern, so I will definitely be cautious into that and will let the typical move/counter move reaction play out for the first 30 minutes or so after the release. It is also worth noting that there is a big OPEC meeting tomorrow and that oil could move market over the rest of the week. Last but not least please keep in mind that markets are closed on Friday. As far as a watch list, I am going with the same list as yesterday:


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 if it finds resistance at yesterday's highs or the ema34


RCL is giving a 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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