Watchlist 04/14
Market bounces from extremely oversold conditions
As expected the market bounced from extremely oversold conditions last week. The Nasdaq Composite had its second largest one day % gain in history at +12.16% on Wednesday. Extremely wide ranges every day until Friday when the market calmed down with an inside day. During volatile times most stocks are trading at high correlation to overall indices so there aren’t too many individual stock ideas until the volatility subsides.
QQQ 0.00%↑ inside day on Friday and within Wednesdays extreme rally day range. In the absence of bad news or more positive developments, could see a continued drift higher to break out of the last 2 days range
AAPL 0.00%↑ could rally higher, as over the weekend tariff exemptions were published on many electronic products including computers and smartphones
VXX 0.00%↑ as the market rallies, look for volatility to fade
$BTC was resilient throughout this market selloff. MSTR 0.00%↑ did not make new lows and double bottomed at $240
HOOD 0.00%↑ showing relative strength, breaking Wednesdays high and above the 200 MA, compared to indices and many stocks which are below the 200 MA and below Wednesday highs
PLTR 0.00%↑ sold off less than market and is also above 200 MA. Double inside day range
RKLB 0.00%↑ failed to go lower and supported at the 200 MA
BABA 0.00%↑ to watch with evolving China news, with the new SEC chair Paul Atkins talking about investigating and delisting Chinese companies
TLT 0.00%↑ big selloff this week but saw a bounce at the lows from earlier this year $85
GLD 0.00%↑ Gold is getting extended after making a sharp move up the last week. Looking for some signs of a short term trend reversal
