3/20 Watchlist + Notes
SPY - expected spy to push slightly higher on friday but we made an inside day instead putting SPY into a 2-1 setup. I am somewhat bullish still on SPY for Monday, but I could see Monday going either way.
Watchlist and bias:
Daily Chart Setups:
SPY - 2-1: Slightly bullish
AMZN - 2-1: Slightly bullish
DIS - 2-1: Neutral
LULU - 2-1: Neutral
MCD - 2-1: Bullish
UNH - 2-1: Neutral
Weekly Chart Setups:
PFE - 2-1: Bearish
UNH - 2-1: Slightly Bearish
JNJ - 2-1: Bearish
Main watch for the week:
UNH: Want to start off by saying this setup is less exciting than the last few I have posted about but it is still incredibly valid. Mainly watching this one because we have a 2-1 on the daily and weekly, with the weekly being in a bearish broadening formation. Because of this, what I am looking for is for the daily chart to break out to the downside to get an entry for puts to potentially swing. Only lookin to play downside on this one as that is what the longer time frames are showing. Assuming the daily breaks to the ownside, this will hopefully create the momentum to also breakdown on the weekly. Downside targets are at 463.17, 457.79, and 449.70. It is worth noting that we do have some indications that UNH could see a slight push higher this week before dropping. I won't play UNH if it breaks above fridays high. Best of luck trading this week everyone
Watchlist and bias:
Daily Chart Setups:
SPY - 2-1: Slightly bullish
AMZN - 2-1: Slightly bullish
DIS - 2-1: Neutral
LULU - 2-1: Neutral
MCD - 2-1: Bullish
UNH - 2-1: Neutral
Weekly Chart Setups:
PFE - 2-1: Bearish
UNH - 2-1: Slightly Bearish
JNJ - 2-1: Bearish
Main watch for the week:
UNH: Want to start off by saying this setup is less exciting than the last few I have posted about but it is still incredibly valid. Mainly watching this one because we have a 2-1 on the daily and weekly, with the weekly being in a bearish broadening formation. Because of this, what I am looking for is for the daily chart to break out to the downside to get an entry for puts to potentially swing. Only lookin to play downside on this one as that is what the longer time frames are showing. Assuming the daily breaks to the ownside, this will hopefully create the momentum to also breakdown on the weekly. Downside targets are at 463.17, 457.79, and 449.70. It is worth noting that we do have some indications that UNH could see a slight push higher this week before dropping. I won't play UNH if it breaks above fridays high. Best of luck trading this week everyone
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