Watchlist 2023-04-21 $SPY $CSX $LVS $MGM $NWG $T $UALAMEX:SPY - opening up exactly at PD open, which is sort of strange. This whole week we have opened lower, trended higher, and then finished lower. This could mean there is a trend change today. However, Until the weekly downward trend is broken, I will assume we will continue it.
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
NASDAQ:CSX - triple earnings beats, says it expects shipping prices to remain high in next quarter. Receives mutpile price target increases. However, we only have 1 PM RVOL , so will need to wait to see that number be raised before getting into a trade. There are not a lot of clear support levels we would have to use a 31.50 or 31.25 as confirmation. Target is 33.
NYSE:LVS - Swings to Profit in Q1 After Sales Surge, was very strong PD until Janet Yellen tanked that market with her comments. If we can see some support at 61, long is in play.
NYSE:T - terrible day PD, closing near the monthly pivot bottom of 17.50. If it stays weak, day 2 continuation short with a hold below this level. I do not want to be first to this trade, let the move happen and see it hold under this level as there is lots of risk that it can get bought up quickly. Else, there is a resistance test trade at 18 to start into a position anticipating a close below 17.50.
Other watches:
NYSE:NWG - no news but has RVOL of 2 right now and whipped out yesterday's gains will no retracement like many of the names that took a hit yesterday. Watching for weaknes off the open.
NASDAQ:UAL - strong day PD. Looking for a day 3 continuation short under 44.30
