Watchlist 2023-04-19 $SPY $SCHW $UHC $LUV $COEP $TSLA AMEX:SPY - pointing lower this morning as treasury yields rose with fear arising in tech earnings. SPY looking very toppy with volume decreasing as a rising wedge builds and it reaches close to the 418 pivot high. If we stay below 413.5 - 414.5 this morning, and price action is showing signs of sellers in control (strong red bars and sequential green bars with lower vol), next support I am looking at it 410.
For further confirmation of a trend day, watch for:
USI:ADD pinned near +\-2000
USI:VOLD ratio over +/- 3
USI:TICK cumulating past 0 wicking to +/-900
$UHC - united Insurance Shares Slide After 'Going-Concern' Warning on their ability to continue to operate. Day 2 continuation short play, nice that PM is consolidating near the PD lows. PM RVOL 18. Room to the nest support levels, 134 and then 1.00. Small cap name so it doesn't necessarily need the market but it sure doesn't hurt. If it trades over 1.80 short idea is invalid.
NYSE:LUV - day 2 continuation short after delays of thousands of flights yesterday over a technology issue. If it stays below the 31.70 inflection from PD, room to the range low and PD low of 31. Note that PM RVOL is 2.4.
NASDAQ:COEP - small cap play that looks to be gaining some vol. Heavily sold or shorted PD PM but couldn’t move much further intraday. If COEP holds over 1.60, could see shorts start to get trapped. Nothing but room to at least .2.17 and this high flying after that.
Other watches:
NASDAQ:TSLA - short below 175.50
NYSE:SCHW - continuation long over 54.25
