Watchlist 2023-03-24 $SPY $TQQQ $SQQQ $KRE $SQ $SCSSPY - gapping down for some follow through to end yesterdays completed reversal. I was expecting a bounce back to around 395 area, then move lower, but once we got to 395, held, and the $TICK was holding +900, $ADD line was pinned at 1800, I knew we weren't done with the rally. Anyways that was certainly a wild close. Perhaps the 395 area will act as some resistance before moving even lower. If we can't get above 391 early on, expect the move to continue to the downside, 388.50, then 386 if it can't hold that.
For a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating below 0 wicking to -900.
Again, focusing on the market today as it's very much in play and there is potential for a trend day
$SQQQ, $TQQQ
$KRE - potential for some follow through past the 42 support if SPY weakness continues, as it been showing incredible relative weakness.
Other watches:
$SQ - Block fighting back against the short-seller Hindenburg report as “factually inaccurate” and “misleading.” Keeping this on radar. IT will likely stay within the PD range today so looking to fade the extremes of the channel.
$SCS -did exactly what was in our game plan yesterday - did fall right back to the support line with I'll admit I didn't think it would have the much follow through. If it can hold the key 7.50 area, could see some follow through to the upside.
