Watchlist 01/20
Bullish market reversal
Market
SPY 0.00%↑ strong reversal after cooler PPI and CPI data last week. Price is back to last weeks high (also high of the year) and the 600 area. Potentially a pullback this week as the market has been up straight off the lows. Bullish as long as a higher low forms above 580 but for now remains in a range.
IWM 0.00%↑ bounced sharply off the 200 MA which is has held multiple times last year
SMH 0.00%↑ semiconductors have been consolidating for multiple months (monthly chart below) and again held the 200 MA. Many stocks inside the group look ready to move and with a bull market backdrop, the base case is likely higher
Crypto
Biggest news over the weekend was the launch of the incoming presidents own memecoin (https://x.com/realDonaldTrump/status/1880446012168249386). Solana also reached all time highs. It’s likely people have alot of FOMO right now with many participants wanting to be part of anything crypto related. Stocks like MSTR 0.00%↑ and COIN 0.00%↑ have been up the whole of last week, it’s possible there is a gap up on Tuesday and some short term exhaustion as the rally approaches recent resistance levels
DJT 0.00%↑ tried to rally into inauguration event but sold off on Friday. A while ago Trump’s social media group was in talks to buy Bakkt Holdings BKKT 0.00%↑ , a crypto trading firm. Perhaps we see some moves in these stocks this week
BTCT 0.00%↑ BTCS 0.00%↑ are two microcap stocks that pumped on Friday
Quantum
Quantum stocks had a deadcat bounce last week. Nvidia announced a quantum day event in March: “NVIDIA’s GTC 2025 will debut Quantum Day, featuring CEO Jensen Huang alongside leaders from $IONQ, $QTBS, $RGTI, and more”. Despite that, the bounce fizzled into the end of the weak and most look on the verge of breaking down their recent range. QUBT 0.00%↑ was also the target of a short report by Capybara Research.
Strong stocks
RBRK 0.00%↑ held the range and earnings gap
RDDT 0.00%↑ $180 breakout area
PSTG 0.00%↑ sideways consolidation after earnings gap in December
LEU 0.00%↑ ASPI 0.00%↑ stocks related to nuclear energy & fuel look like they could start an uptrend in the coming weeks.
Weak stocks
RKLB 0.00%↑ given that the broader market rallied the whole of last week, RKLB was sold off every day. After a huge rally last year, it would be normal for this to have a deeper pullback.
SMCI 0.00%↑ unable to rally with market, $30 is a recent level that could see selling if the market pulls back
SOUN 0.00%↑ big breakdown two weeks ago and despite being cut in half, struggled to make any meaningful bounce. Wicks on daily show sellers every day. Could be heading lower
LLY 0.00%↑ clear stage 4 downtrend in this stock ever since the gapdown in November. On the verge of making new lows
