Going off of yesterday's watchlist and notes, we were expecting bullish movement on SPY and we got it. Very strong close again on SPY leads me to believe we will see a push higher again tomorrow, but I am not entirely sure how much higher. With that being said, I think we are set for a solid friday session. The scanner only had 5 tickers on it today with our main focus being on PFE but I will get into that later. tickers and bias include:
KO - 3-1 : Slightly Bullish
JNJ - 2-1: Slightly Bullish
BABA - 2-1 : Slightly Bearish
HD - 2-1-1: Neutral
CAT - 2-1: Neutral
PFE - 3-1: Bullish
PFE is my main focus for tomorrow. It has a similar setup to DOCU from yesterday's list, which is an inside day with a gap to the upside, while having an underlying bullish bias.
Looking to break 40.49. If this happens, we target 40.82, 41.13, and 41.26 (Top of daily fair value gap, high of day from the day that created the most recent FVG, and high of last week/bottom of second most recent daily FVG).
Overall just going to play it like any other day and watch what SPY and VIX are doing while seeing if any of the inside days from this list breakout. If They break in the direction that SPY is moving then I will consider playing them. I do want to mention that besides PFE, JNJ, and HD, the other setups are not ideal to play, but I want to include them anyways because 1, they were on the scanner, and 2, sometimes these setups surprise me with how well they perform regardless of how they look at first.
KO - 3-1 : Slightly Bullish
JNJ - 2-1: Slightly Bullish
BABA - 2-1 : Slightly Bearish
HD - 2-1-1: Neutral
CAT - 2-1: Neutral
PFE - 3-1: Bullish
PFE is my main focus for tomorrow. It has a similar setup to DOCU from yesterday's list, which is an inside day with a gap to the upside, while having an underlying bullish bias.
Looking to break 40.49. If this happens, we target 40.82, 41.13, and 41.26 (Top of daily fair value gap, high of day from the day that created the most recent FVG, and high of last week/bottom of second most recent daily FVG).
Overall just going to play it like any other day and watch what SPY and VIX are doing while seeing if any of the inside days from this list breakout. If They break in the direction that SPY is moving then I will consider playing them. I do want to mention that besides PFE, JNJ, and HD, the other setups are not ideal to play, but I want to include them anyways because 1, they were on the scanner, and 2, sometimes these setups surprise me with how well they perform regardless of how they look at first.