As expected, the laggards of Monday popped into Tuesday, and the big movers chilled out a bit and are digesting. Index’s are hanging out near highs which is what we want to see. Really nice move in ROKU from our overnight swing. Most of our squad sold “too soon” but yielded 40-70% profits.
Best is if market consolidates at highs while stocks continue putting in explosive / tradeable patterns. This month will be one to take advantage of. Historically a green month + earning season anticipation. Swing trades are working again in this environment! If part of the Discord community or following the watchlist, you know in March we were trading more of the downside action – which paid very well. Markets are dynamic and that’s the beauty of it, always something to learn and capitalize on.
Today, we hear from some “Fed creatures” and Fed Minutes come out at 2PM. As I mentioned, index’s just had an explosive move, not a bad time to sit and wait for setups to trigger OR position for swings in options with time – preferably til end of month, or May +. In my opinion, anything they say won’t affect market trajectory of higher (for now) as seasonality will dominate.
Let’s take a quick look at the index’s and then move into stock specific charts.
DIS – looking nice, we are swinging this one long. notes on chart. looking for $195 level next up, then psychological $200 retest at some point mid-term.
SQ – this one is a major breakout watch. Not sure how I feel about this CCI news, to me it sounds like regulatory BS we don’t need. Just need a free market for crypto. But of course big money needs to regulate. I just follow the chart $$
FDX – back on watch for me now that we’ve got some digestive candles after that previous breakout move to 288 which we caught a piece of. I like the 4 inside candles because whether it breaks up or down it will be a clear trade. Breaking above 286.22 opens up that 295 zone. This would be the ideal scenario, another leg higher after this bull flag consolidation into the 8EMA. Breaking below 280.70 opens up 278.31 and lower – at that point I am not as interested.
TSLA – she might need to consolidate a little more in the zone noted. Still love this for a swing higher. we are likely going to attack the gap fill zone noted on the chart within the next week or two, my best guess.