Stock Watchlist 29 March 2021

As we go into a shortened holiday week (Market Closed on Good Friday – April 2nd) – we are coming off a bullish end to the week with SPY + DIA closing above where we opened on Monday. QQQ and IWM closed off their lows of the week, but did not close the week above where it started. This isn’t necessarily bearish, it’s just an indication that QQQ/IWM are lagging SPY/DIA slightly.

This market environment has been a scalpers paradise. Big trend days both bullish and bearish have been plentiful. Those who have been sitting on cash overnight and taking advantage of intra-day moves had plenty of opportunity within the month of March.

The better setup to take some long swings would be a red/digestive/inside candle on Monday after the nice rally on Thursday + Friday. This would set up a for a nice breakout above highs on Tuesday. Generally, shortened holiday weeks are bullish. There are 3 more days in the quarter, and in the month of March.

Charlie (great follow on Twitter) shares data on 2021 S&P Sector returns so far:

As we can see, tech/momentum stocks have been underperforming the markets, while oil + energy and banks have led the market strongly. Let’s take a look at the index’s first, then a few stock specific charts.

Key levels to watch and set alerts are *HIGHLIGHTED GREEN* at each price level on the right hand side of the chart

Some stock specific charts with key levels:

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