Watchlist 2023-02-17 #HD #PDD #GOGL #APLS

SPY - Friday session put in a clear bottom a 404 and we had a thrust above to end the week. Gapping below this base this morning. On Friday we said " If a heavy channel forms around the bottom range, I'd need to see a fake out above the channel first before shorting" this constitutes as a fake out. This would be invalidated if we close above 07. 30 on the hourly today. Bias is short until proven otherwise. Retailers showing weakness in the PM lead by HD, WMT.


Short Watches:

HD - Home Depot stock sinks after sales miss and downbeat outlook, offsetting profit beat and dividend hikes. Below high vol node of 314, below the 307.30 pivot, below 200 EMA, moving 1.6 ATRs to the downside which is the sweet spot, and showing 3.4 RVOL in the PM, RVOL is the primary key I look at in the PM at above 3 is rare and a great sign for continuation In the direction of the gap.

PDD - below the 90 pivot and below the range, gapping down on retailer earnings. Has room to 84 .

Long Watches:
GOGL - beats earnings. Interested above the 9.90 pivot. Needs more vol. Also about the 200 EMA and showing a daily buy setup.

APLS - keeping an eye on this over 62.

I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts