Watchlist 2023-04-10 $SPY $LEVI $LITE $TSLA $SQ $CVNA

SPY - gapping down from a resilient Friday session on lower vol but QQQs showing relative weakness in the morning as economic data including a hot nonfarm payrolls is signaling more potential for future rate hikes . SPY is still in the upward channel for the march 13 lows. 409 is the key level where it needs to hold to see future upside today.
Not seeing an particularly compelling ideas this morning. Will likely need to wait and see how the market behaves ar 409 and 405.50 support.

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

LEVI - looking for a day 2 continuation to the downside if it stays heavy under the 15 pivot. If we see capitulation vol the a hol over the 15.30 inflection. Looking for a long.


LITE - Friday news = Rosenblatt Downgrades Lumentum to Neutral From Buy, Cuts Price Target to 48 From $77. down 4.5 ATRs on 0.5 PM RVOL. Lots of vol done at the 46.50 level. If it stays heavy under here. Looking for a short entry on a retest oof 45.80. If It can get above 46.60 and stay there for more than 2 min on the open. Looking for a reversal BO long.

TSLA - showing relative weakness in the tech sector. Looking for a short entry if we see a bounce up to around 183 with fail follow through.

SQ - KBW downgraded its rating on SQ from 'outperform' to 'market perform' and reduced its price target to 75 from $90. RR under the 65.80 support for a short is not great. Would have to attach on a bounce up to the 67.50 inflection or a retest of 65.80 for confirmation of continueded downside.


Other Watches
CVNA - if a suto rev H&s forms near 9, looking for a long with resistance at 10.30.