Watchlist 2023-04-04 $SPY $SQQQ $TQQQ $PLTR $FDX $CVNA

SPY -finally put in a red day after breaking through the 407 pivot and then finding support there at EOD. Relatively flat this morning as we await important economic data that will likely dedicate whether the Fed hikes in May. The most important value is at 9:45 S&P Global Services PMI Final for Mar: Prior 53.8. Watch for the reaction at this time for clues on direction. Also, watch if we fail to get through 409 early on.

For further confirmation of a trend day, watch for:
ADD pinned near +\-2000
VVOLD ratio over +/- 3
TICK cumulating past 0 wicking to +/-900

If we see weak econ numbers at 9:45, looking to play the downside of tech with SQQQ.

PLTR - Palantir And Microsoft Expand Cloud Partnership To Public Sector. Nice move in the PM gapping above the 8.60 range, finding PM resistance at the 200 EMA 8.85. However, will need to see Vol pick up as it only has 0.7 RVOL in the PM. Best play is likely an Gap n go off the 8.60 support unless vol really picks up. Will also heavily rely on the SPY today so if SPY is weak this trade won't be as powerful.

FDX - FedEx stock gains after company announces dividend boost, plans to consolidate. Bounce play of 230.

Other Watches

CVNA - over 10.30