UnclePennybagss

Watchlist 2023-04-26 $SPY $SPOT $MARA $PACW $XRX $SQM

NASDAQ:PACW   None
SPY - was spot on with my analysis prior day " If SPY rejects the 412 area early on and breaks 410 support, expect lower prices to follow…. ". This morning, SPY is bouncing off 406 support in the PM following positive earnings from MSFT and GOOG. Watching price action closely early on for clues to where the market might continue. On one hand sentiment is bearish following FRC, but position earnings form the tech giants might be enough to regain some of the losses from prior day. Looking for break and hold below 406 and a break and hold over 408.30 for continuation in either direction, keeping in mind that the short daily direction should be down following the range from yesterday.

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

SPOT day 2 continuation over 140.

MARA - crypto showing strength even as the market fell yesterday as BTC coning off a fall from it's 52 week highs. MARA and RIOT coming off a daily buy set up after 5 days of sequential red bars, which we like. Looking for dip buy opportunities at 10.00, and 9.40. Carful as MARA can easily have a early rally, then a full retracement, then another rally. Typically with other names a complete retrace is a sign of weakness but crypto miners can play by their own rules.

NASDAQ:PACW - 14% as bank says deposits have been building in recent weeks and EPS beat. PACW with a look below 10.50 and a complete fakeout now trading over 11.50. This surprise factor in these is massive. If we trade over 11.70, especially with the market strength, we could see price trade as high as 12.50. Being cautions on early fakeouts over 11.70 so stop will be tight.

XRX - huge move PD on earnings beat. Looking for strength over 15.60 only if we have tested below 15.40 and failed. On the flip side, if we look above 15.60 and reject hard, that te3lls me buyers are not willing to accept a new range, expecting a move down to 15 in that case.

Other watches:
SQM - huge move PD as chile plans to nationalize lithium reserves. Bad news for SQM. Watching for weakness under 66 or strength over 66.80.

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