Watchlist 2023-04-11 $SPY $KMX $TSLA $BABA $CVNA $ADTN

SPY - makes a complete reversal yesterday after gapping down into 405 support and finishing back at the prior 409 resistance. investors are waiting for key inflation data on Wednesday but will to put a bit on risk on in anticipation was SY gapping up past 409 that was res. For the last 3 days. If SPY stays above early in the session and then gets above 410.50 PM res. We could see a potential trend day. However, if we res below 409 and then it turns into res. Again, we may drift back to 405.

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

KMX - CarMax stock rallies after big profit beat, even as revenue fell well short of expectations. There appears to be an array of challenges ahead that will continue to impact car sales. However, if KMX can get above 71.50 early on, there is room to move to 75 for a swing trade, but it's already up 1.8 ATRs on only 1.1 PM RVOL, so I think this is less likely given the mixed earnings. I'm preparing for a test and rejection of that level for a short play or a long if there is a Rev H&S between 67 - 68 for a gap n go.

BABA - Alibaba Group Unveils Generative AI Model, Plans Integration Across Apps. If support is confirmed at 102 (PD high from PD inside day) R1 at 103.30, R2 at 105. If we can't close above 102 on the 5 min early on. No trade.

ADTN - gapping down 5 ATRs on 0.7 RVOL, showing extreme weakness in the PM. IF we can get a retrace to 13.50 with a swift rejection, the RR is favourable for continuation down to the 11 and 10.50 support.

Other Watches

TSLA - is in a low vol node area, looking for signs on continuation.

CVNA - long if there is a confirmed support test of PD HVN at 9.30, huge resistance at 10.30 that Is like a magnet and will be tested on market strength, if KMX is strong this can turn into a sympathy play.