Watchlist 2023-05-09 $SPY $LITE $HIMS $FHN $CVNA$GOLD $PLTR $TSN

9 de mai. de 2023

SPY - losing a few points in the PM after an inside day that was fairly muted yesterday.
Key inflection today at 412 if we reject this level and/or stay below it, shorts will likely be in control for the morning session. Hard to predict what the after noon will look like without the morning price action, we’ve seen a handful of days were it reverses completely. In those situation where you are unsure if price action will continue, first look for a higher high on the 5 min. Then see how price moves away, If it is a shallow sequential pullback with a wick off the bottom, that is a good indication of a price action shift.

No major bias today, we could likely see another mutes session as investors wait for tomorrows CPI data.

For further confirmation of a trend day, watch for:
ADD pinned near +\-2000
VVOLD ratio over +/- 3
TICK cumulating past 0 wicking to +/-900

LITE - Fiscal Q3 Non-GAAP Earnings, Revenue Decline; Issues Downbeat Fiscal Q4 Outlook. Lite has been posting positing earnings for the last 5 Qs yet still on a strong trending decline. This negative earnings and guidance could be the one sending it on a capitulation trade. Gapping below the montly pivot of 45, room to 40.50. Just needs a little more RVOL to bring it closer to 2 for a great trade setup.
Watching this closely on the open for weakness.

ZS - potential for a day 2 fade after and immense gad up that rejected the key 110 pivot high. The inflection is about 107.50 and support is 107. If we get below there early, looking for a short, target 104.

HIMS - the wellness company behind the online telehealth and prescription platforms Hims and Hers -- on Monday reported a bigger per-share loss than expected for its first quarter, but raised its full-year sales forecast. This is interesting as the chart looks bearish, gapping down off 52 week highs from a multi date range and pivot high resistance at 12.20. long erm chart looks very bullish as investors were likely anticipating a better quarter. However, the news of raising 2023 revenue is startling that the reaction is negative. Keeping this on watchlist as it has a big opportunity to flush but also a get chance to bounce off the 10.00 support as investors flock to the guidance raise.

FHN - yesterday's gap up and fade looked like the end of this short term corrective rally. Gapping below yesterday inflection of 10.80 is key, if we stay below looking for 10.30 as a first target, then 10. 00.

Other Watches

CVNA - over 11.20 PD high
GOLD over 20.00
TSN
NYSE:PLTR - over 9.00

10 de mai. de 2023

Nota

market was very strong off the open today so many of these short ideas were invalidated quickly. HIMS eventually got top heavy so i played a H&S once it got to 11.50. Worked out as a fader all day but certainly wasn't a smooth trade. CVNA and PLTR were the money trades. I missed CVVA but had a quick scalp plat off the bottoms of PLTR.