Watchlist2023-03-17 $ET $GOLD $SRPT $KRE
SPY - had an impressive rally yesterday lead by the tech sector. We want to watch for SPY to retest and hold the breakout level between 388 and 390, getting close in the PM already.
Oil names might be gearing up for a bounce trade. Look for the 66.50 in WTI level to hold. If it does, looking for names that held most of the gains after PD rally like $ET. Potential buy spot at 11.95. However, atm, WTI looks like it is free falling so will need to see more conviction.
$GOLD - continues to be a dip buy into support - ensure to give it room. This is an inverse idea to the tech sector so only buy if we are seeing a potential peak in $XLK.
$SRPT - FDA AdCom Not A Sarepta Game Changer. Gapping down on news of the potential change in the gene therapy drug which is not seen as detrimental. Gapping down on only .5 RVOL into heavy support area. If it can't get below 116.50, or has a fakeout below, looking for longs above 122. Need to see price action in favour, wicks and sequential pullbacks.
$KRE - Regional Banks are difficult to predict atm, trading in a sloppy rang and volatility contracts. Keeping these on watchlist for additional headline new or if they trade to extended areas of the range for a fade.
Oil names might be gearing up for a bounce trade. Look for the 66.50 in WTI level to hold. If it does, looking for names that held most of the gains after PD rally like $ET. Potential buy spot at 11.95. However, atm, WTI looks like it is free falling so will need to see more conviction.
$GOLD - continues to be a dip buy into support - ensure to give it room. This is an inverse idea to the tech sector so only buy if we are seeing a potential peak in $XLK.
$SRPT - FDA AdCom Not A Sarepta Game Changer. Gapping down on news of the potential change in the gene therapy drug which is not seen as detrimental. Gapping down on only .5 RVOL into heavy support area. If it can't get below 116.50, or has a fakeout below, looking for longs above 122. Need to see price action in favour, wicks and sequential pullbacks.
$KRE - Regional Banks are difficult to predict atm, trading in a sloppy rang and volatility contracts. Keeping these on watchlist for additional headline new or if they trade to extended areas of the range for a fade.