Stock Watchlist April 20th 2021

Good morning ya’ll! Yesterday played out as expected and we saw downside continuation. To be clear: we are now in a short term downtrend. Nothing major at all, and it’s welcome to see a pullback on index’s and stocks. Makes it incredibly hard to trade when it goes up up up every day with no technical setups to enter on.

Today’s Tuesday, and if you’ve been with me for a while, you know I speak alot on this day of the week. It can be a day where we see a reversal in trend from Monday. So, being that Monday saw some sell pressure, I wouldn’t be surprised to see some bounces develop. Now, the bounces are one to sell into, IMO. I’m not getting comfortable for the week, as I think we could have some choppy, poppy, and downtrending action this week. It’s still early so we will monitor as we go along the week, just some initial thoughts. Don’t get married to positions today if they’re working for you. If I take any trades they will likely be daytrades only. I’m waiting for some better indicators for swing plays, which I think may develop end of this week into next week (last week of April).

As always, let’s go through a few index charts. Important to understand where we are on index’s to help plan for trades and trends.

Now let’s look at some individual names that are setting up for swing plays, IMO

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