Watchlist 2023-05-08 $SPY $PRVA $CVNA $SIX $AAL $FUBO $LYFT $GOL

SPY - gaining a few points in the PM after a big rally to close off the week. Our key internals were screaming TREND DAY with the VOLD rating at +8, ADD pinned at +2000 and TICK cumulating in the positive territory, holding some of you saw that and were able to hold all day.
Key levels today at 413.80, gotta get past this and hold to continue the trend. However, with no major catalysts today I would be surprised to see the first move down to clear out some longs. Support is 410. 30. No major bias today.

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

PRVA - surprised everyone with and earning beat of 160%. Flushed out all the buyers before jan 17 and then close near the range high the next day at 29. If we see some vol early on Buy over 29 as all shorts and stuck and the scared sellers are gone.

CVNA - Day 2 continuation short. Watching the tape a price action on Friday, CVNA had no buyers, any time it rallied it was a short squeeze that faded off quickly. Now, Trading below the Friday high vol node and key level of 9.00. I'm waiting for a rip and a fail to get more confirmation on the short, as this could easily squeeze on the open

SIX - six flags rose 10% in the PM after the average spending per visitor rose 7%, they still had a net loss of 70M this quarter but that is typical for winter months. Trading 2.2 RVOL and move 2.5 ATRS so far. It's gapping close to the 200 EMA and then the $27 pivot high so unless there is a flush on the open and a base forms there is likely not a long trade for me here. If you like resistance trades, there could set up around 27.

AAL - JPMorgan Chase Upgrades American Airlines Group to Overweight From Neutral, Boosts Price Target to $29 From $26. If Vol picks up, there

FUBO - had a massive day on Friday, not only is it holding the gap but holding the highs in the afternoon into today's session. If it can get above and stay above 1.64, PD high and the key pivot, long until exit rules apply or ~2.00 is reached

Other Watches

GOLD over 20.40