Watchlist 2023-02-03 #GOOGL #AFRM #JWN #LAZR #AMD
SPY came very close to reaching 420 resistance yesterday. But failed at 418. If the bullish momo continues we need to hold 413.46, some early fake outs below might be enough to flush some longs. However, if we get below and stay below, the bias is short until we form type of inverse H&S on the 5, 10, or 15 min. Payroll expected number 187K, actual ~500K, negative catalyst for the market as the jobs market continues to show resilience.
Packaged software showing the most weakness in the pre market with room until next support.
Short watches, AFRM,LAZR, ASAN, U
GOOGL - Missed earning, said revenue from its advertising business, which includes Search and YouTube, fell 3.6%. Now below PD low, 200 MA, and the key pivot at 104.90. Minor pivot support at 102.24. Will likely get an early flush so RR wont be super favorable off the open. May need things to settle and wait for a VWAP retest and fail.
JWN - interesting short idea if we see failed follow through momo
Long watches: AMD - potential for pull back at 81.60 if we see short momo settling
Packaged software showing the most weakness in the pre market with room until next support.
Short watches, AFRM,LAZR, ASAN, U
GOOGL - Missed earning, said revenue from its advertising business, which includes Search and YouTube, fell 3.6%. Now below PD low, 200 MA, and the key pivot at 104.90. Minor pivot support at 102.24. Will likely get an early flush so RR wont be super favorable off the open. May need things to settle and wait for a VWAP retest and fail.
JWN - interesting short idea if we see failed follow through momo
Long watches: AMD - potential for pull back at 81.60 if we see short momo settling