Weekly Watchlist

April 3 - April 7, 2023

1. Broad Market & Commodity Analysis

a. SP500
b. SP500 Stocks Above 50-Day Average
c. SP500 Stocks Above 200-Day Average
d. Dow Jones Industrial Average
e. Nasdaq 100
f. Russell 2000
g. VIX
h. Gold
i. DXY
j. Crude Oil
k. 2-Year Treasury
l. 10-Year Treasury
2. Technical Analysis
a. FDX
b. GOOGL
c. DIS
d. AXP
e. SPY
f. AAPL
g. TSLA
h. NVDA
i. AMD
j. MSFT
k. XLF
3. Earnings & Economic Calendar
4. Previous Close Inside Day

Disclaimer: This watchlist should be used in combination with your own due diligence and
extensive research. Do not use our watchlists as your only means to enter or exit a trade.
Our job is to educate you and share our findings and opinions with you- we are not here to
spoon-feed anyone… We hope you have a green week!
 ACCESSIBILITY:
1. Using the links above, you can manually navigate to any ticker or category of the
watchlist with ease. Specific images can be enlarged by clicking on the image and
then clicking on the link that pops up!

EXTRA MARKET NOTES:

1. Last week, the indexes were able to make higher lows and higher highs throughout
most sessions as breadth remained relatively strong. This relative strength has no
doubt been highly influenced by tech stocks, which continue to outperform every
asset class on a week-by-week basis. The Nasdaq was up 10% in the month of
March, which was a fantastic close to Q1 of 2023. All in all, even despite this nice
uptrend that has occurred, the indexes have yet to break their macro lower highs,
and you should be actively watching for a potential macro lower high in the weeks
to come. We hope everyone has a wonderful Good Friday/Easter Weekend, and
make sure to trade safely this week!
2. Top Economic Announcements This Week (CLICK HERE)
a. PMI Manufacturing Final Reported Monday @9:45 AM ET
b. ISM Manufacturing Index Reported Monday @10:00 AM ET
c. Investor Movement Index Reported Monday @12:30 PM ET
d. JOLTS Job Report Released Tuesday @10:00 AM ET
e. FED Loretta Mester Speaks Tuesday @6:45 PM ET
f. ADP Employment Report Released Wednesday @8:15 AM ET
g. International Trade in Goods & Services Wednesday @8:30 AM ET
h. PMI Composite Final Rerpoted Wednesday @9:45 AM ET
i. ISM Services Index Reported Wednesday @10:00 AM ET
j. Challenger Job-Cut Report Released Thursday @7:30 AM ET
k. Jobless Claims Reported Thursday @8:30 AM ET
l. FED James Bullard Speaks Thursday @10:00 AM ET
m. FED Balance Sheet Reported Thursday @4:30 PM ET
n. March Jobs Report Released Friday @8:30 AM ET
o. *Bond Market Closes @2:00 ET in honor of the Good Friday Holiday*
p. Consumer Credit Reported Friday @3:00 PM ET
3. Volatility is going to continue to dominate the markets with fundamental factors
such as the ongoing Ukraine-Russian War, Inflation headwinds, and instability
around the globe. Future downside risks are 100% a possibility at this point, using
the proper risk management techniques could quickly help to offset any losses.
 Broad Market Analysis:

/SPX500USD: SP500

1. The SP500 continues to impress week after week, with an impressive 3 bar to close the
week out above 4050-4100 resistance.
2. If the SP500 can remain above 4050-4100 resistance going forward, it should move
higher to 4150/4200 resistances in the future.
3. Anything over 4200 would lead to a major breakout, and a new higher high on the micro
trend. 4300 remains the last lower macro high on the SP500, and a move above 4200
should call for a move to re-test 4300 in the future as well.
4. If the SP500 cannot stay above 4050 in the future, look for a move back down to supports
at 4000/3950/3900/3850/3800. 3800 is the micro higher low for the SP500, and as long as
this level can be held the SP500 should remain in an uptrend going forward.
5. All in all, remain cautious even despite a super strong way to close last week and Q1 of
2023.
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 $S5FI: SP500 Stocks Above 50-Day Average

1. SP500 Stocks Above their 50 Day-Moving Average had an incredibly strong week last
week, with the bulls managing to hold onto 20% support.
2. As you can see by the chart, 20% has consistently provided relatively strong returns
going back multiple years now, and it’s no different this time around.
3. As long as the bulls can stay above 20% going forward, look for the amount of SP500
stocks above their 50 Day-Moving Averages to continue to increase going forward.
4. When the 90%-100% level is reached, expect a pullback of some kind just due to the
overbought nature of this level and history as well.
5. A rejection from 90%-100% does not always mean a major bear dump, as you can see
back in Early 2023 this indicator set a potential higher low, as the SP500 index continued
to set higher highs.
6. All in all, this is bullish action for the markets no doubt and the market is looking healthy
as long as 20% support is continued to be held.
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 $S5TH: SP500 Stocks Above 200-Day Average

1. The amount of SP500 Stocks Above Their 200-Day Moving Average made a beautiful
bounce off 40% support last week, which has been a major support going back for years
now.
2. As you can see by the text on the chart, the 30%-40% level has continued to be a level
that promotes bullish price action as long as the bulls can step up and hold 30% as major
support.
3. This is no different this time around, and the amount of SP500 Stocks Above Their
200-Day Moving Averages has broken resistances at 45%/50%/55% at the moment,
which is strong price action.
4. Look for this indicator to continue moving higher up to resistances at
60%/65%/70%-75%.
5. 70%-75% is the last macro lower high on this chart, and a lower high compared to this
level would mean a test of 40% once again.
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 $US30: Dow Jones Industrial Average

1. The Dow had an incredibly strong week last week as well, with a nice 3-bar also playing
out to higher micro highers for the Dow.
2. With that though, there is a macro lower high set at 33500-33600, which will continue to
be a key level going forward.
3. Over 33500-33600, and the Dow will look to breakout to higher prices and resistances at
33800/34000/34250-34300.
4. 34250-34300 continues to be an incredibly key level for the Dow Jones, and any break
above this level would indicate a macro bullish breakout, and much higher prices of
34500/35000/35500/36000 and potentially higher.
5. All in all, the bulls have failed to push the Dow lower below the 32500 level. As long as
the bulls can hold above 32500, the Dow should remain strong. Anything under 32500
will lead to 32000/31500 re-tests as well.
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 US100: Nasdaq 100

1. The Nasdaq has once again made a beautiful higher high here on the micro time frames,
with a beautiful break above 13000 major resistance.
2. 13000 is literally the biggest hurdle the Nasdaq to gets over, with it being major support
back in the 2021-2022 bull market run.
3. As long as 13000 is held as support, expect the Nasdaq to move higher and re-test
13500/13750 in the future. 13750 is the last macro lower high on the Nasdaq, and
anything above this level would be incredibly bullish.
4. Over 13750 and targets would be 14000/14500/15000 and potentially higher to re-tests
the all time highs.
5. If 13000 is broken as support, expect supports at 12750/12500/12250/12000 to be
re-tested for bullish strength. If 12000 cannot be held, this would be a micro bearish
breakout and targets would be 11500/11000/10500 in time.
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 $US2000: Russell 2000

1. The Russell made a beautiful bounce off 1700-1750 support last week, with the watchlist
last week pointing out th major value at this area that goes back from the major breakout
in 2020-2021.
2. If 1700 can continue to be held as support going forward and the Russell can break over
1800 successfully, expect the Russell to re-test 1850/1900 in the future.
3. Anything over 1900 would be incredibly bullish in the short term, and targets would be
1950/2000/2050 in the future.
4. 2050 is the last macro lower high, and anything above this level would lead to targets of
2100/2150/2200 and potentially higher if the range can be broken between 2100-2350.
5. If 1700 cannot hold going forward and the market sets a potential micro lower high
compared to 1900, expect 1650 to be tested. Anything under 1650 would be catastrophic
to the bullish outlook, and would lead to a continuation of the macro downtrend.
6. Under 1650 and targets would be 1600/1550/1500/and potentially lower.
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 $VIX: Volatility Index

1. It is quite literally make or break here for the VIX right now, with it barely managing to
stay above $18 support even despite the major weakness.
2. If $18 support can hold, expect a bounce from the VIX up to $20/$22.50/$25/$27.50/$30.
3. If $18 support cannot be held, look for the VIX to make a major macro breakdown to
lower prices of $16/$14/$12/and potentially lower.
4. It is really as simple as that, there is no real edge to either side here until a move has
occurred so I would recommend sitting on the sidelines until price action has made itself
clear.
5. Keep a close eye on the VIX going forward for the direction of the markets as well.
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 $XAUUSD: Spot Gold

1. Gold is forming a beautiful flag right now here on the daily, which would potentially lead
to much higher prices here in the coming weeks.
2. Anything above the key level of 2000 should lead to a micro breakout up to 2050-2075.
Anything over 2075 however would lead to a major macro breakout, and brand new all
time highs for the commodity.
3. If Gold cannot hold above 1940-1950 however, expect Gold to move lower in the coming
weeks to targets of 1900/1850/1800 in the future.
4. As long as Gold can remain above 1800, the bulls will remain in control in the micro time
frames, and higher prices should come in time.
5. Typically, symmetrical triangles are respected quite well on Gold, and I would continue
to keep an eye on this pattern going forward for this week.
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 $DXY: US Dollar Index

1. The US Dollar set a nice new potential higher low at $102 support, which is making a
nice double bottom pattern here on the daily.
2. Anything above $103.50 should lead to a move up to resistances above at
$104/$105/$106 in the future.
3. Over $106 would be incredibly bullish in the micro, and would call for a re-test of
resistances above at $108/$110/and potentially higher in the future.
4. If the US Dollar cannot break over $103.50 and sets a new low compared to $102, expect
the US Dollar to move down to $101 support.
5. Obviously, anything below $101 would call for lower prices as well, and targets of
$100/$98/$96 and potentially lower.
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 $USOIL: Crude Oil

1. Crude Oil made an explosive breakout on the opening of the Sunday futures session, with
a surprise OPEC cut restricting supply.
2. This is a clear technical example of a major bear trap, with a beautiful breakdown to
lower supports at $70/$67.50/$65.
3. Now that Crude Oil is at $80 and has essentially reversed the symmetrical triangle
breakdown, look for Crude Oil to continue to move higher in the future.
4. Over $82.50 should lead to $85/$90/$95 in the near future. Anything over $95 would also
lead to a macro bullish breakout, and targets of $100/$105/$110 and potentially higher.
5. With all this said, if Crude Oil breaks below $75-$72.50 in the future, expect Crude Oil to
once again fakeout the entire market and move to the downside.
6. However, if the bulls continue to set higher lows and break above $82.50, this is a
textbook bullish setup going forward.
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 $US02Y: US Government Bonds - 2-Year Yield

1. 2-Year Treasuries set another micro lower high last week, as the 2-Year got denied from
the major support turned resistance level of 4.15%.
2. If the 2-Year continues to move lower this week from the rejection, expect the 2-Year to
re-test 4%/3.75%/3.6%/3.4%-3.5% in the future.
3. Under 3.4%-3.5% and the 2-Year will move even lower to rates of 3.25%/3%/2.75% as
well.
4. With all this said, if the 2-Year can set a higher low compared to 3.5%-3.6% and break
above 4.15%, look for rates of 4.3%/4.5%-4.6% in the future.
5. Over 4.5%-4.6% would lead to another micro breakout, and push the 2-Year to even
higher rates. If this were to happen, 2023-2024 forecasts would probably continue to look
even more hawkish from the FED as well.
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 $US10Y: US Government Bonds - 10-Year Yield

1. The 10-Year also set another micro lower high, with it failing to break over 3.6%-3.65%
last week. If the 10-Year moves below 3.4%-3.5% going forward with strong bearish
continuation, look for the 10-Year to re-test 3.25%/3%/2.70%-2.75% in the future.
2. As you can see going back over the course of the end of last year and this year, the
10-Year continues to set continue macro lower highs, which is potentially showing a
major drop in rates in the future.
3. However, if the 10-Year can set a higher low compared to 3.4% and break above 3.65%
in the future, look for resistances above at 3.75%/3.9%/4% to be re-tested.
4. Anything over 4% should lead to much higher prices on the 10-Year, with targets at
4.25%/4.5% as well.
5. All in all, the 10-Year does not look strong at all and there could be a potential major
mvoe to the downside on the rates here in the very near future!
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 Technical Analysis:

FDX: FedEx (Update)

1. FDX played out perfectly from our analysis last week. The 3 bar play triggered over our
key level of $222.62. We hit our micro target up at $228.94 so coming into this week, that
level will be our new key area to get over.
2. If market sentiment can stay green this week, FDX has a lot of room up to our next target
at $234.93…above that should open the door for a move up into the $240’s
3. If FDX begins to pullback, look for support at $226.40/$223.49/$222.39. We really have
no interest shorting one of the strongest names on the board.
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 $GOOGL: Alphabet

1. GOOGL is looking really good here after flipping into this daily micro uptrend. It has set
a series of higher lows with a higher high…last week it attempted to pivot with this
potential higher low…but what makes this setup interesting is that the weekly chart failed
to go lower last week with the potential of a weekly 3 bar play.
2. Our key level this week is going to be $104.76 as this area is last weeks high & one of
our key hourly levels. If GOOGL can get over this level, we should see a quick move up
to $106.19. This area might be tough to break as this is the most recent higher high, but
if GOOGL can sustain this micro bullish action, we should see them make a new higher
high hopefully up to the $108 area. The weekly structure looks like it can support a move
up to the $111 area as well.
3. Now if GOOGL does pull back, or rejected off that recent higher high, we have support
at $102.49/$101.3/$99.82. If for whatever reason GOOGL breaks below $98.82, there is
a lot of room down short to $96.2.
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 DIS: Walt Disney Company

1. DIS has been showing some pretty good strength here recently. The weekly has pivoted
with a potential higher low, while the daily has is in a micro bullish trend. The main
reason DIS is on this week's list is that if it can get over $100.53, the Risk:Reward for a
move up to $102.58 & 103.88 is amazing! We also have a gap to fill at $105.23
2. That $100.53 level will be key this week…acceptance over that level should give us the
move we are looking for, but if that level proves to be heavy resistance, we could start to
see DIS pullback to lower support levels. Look for support at
$99.4/$98.84/$97.94/$97.12.
3. Shorting DIS is not our #1 option, but you could talk us into it if DIS shows some type of
failure to higher pattern near resistance.
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 $AXP: American Express

1. AXP is either about to make a massive move higher or it is going to break to the
downside of this bear flag. Honestly any scenario could happen. It has been very very
weak compared to the market, but the market has also been showing some good strength
recently.
2. Bearish Scenario:
a. In order for AXP to break down, 1 of 2 things needs to happen. Either we see a
move under our key support level of $162.10 or AXP continues to reject the key
resistance level of $166.17.
b. Under $162.10 and there is a lot of room lower. Our first target would be all the
way down at $158.31. Under that and we should see a retest of the recent low near
$154.90.
3. Bullish Scenario:
a. If AXP can break over & accept over $166.17 then we could see a monster move
higher. The first level we have overhead is $169.69 (nice), followed by a gap fill
up to $172.17 & finally $174.17.
4. This could honesty go either way so make sure to stay patient & wait for these levels to
come into play.
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 $SPY: S&P 500

1. We’ve been seeing the bullish breakout of the year with this megaphone on SPY and the
Inverted Head and Shoulders pattern as well.
2. Now that we’re trading over $407.57 we have $412.5, $416.4, and $419.5 to satisfy
before we hit $420 by 4/20 @ 4:20 PM ;)
3. Definitely a meme quote, but with this price action it certainly looks like we just might
get it.
4. We have $402.45, $399.87, and $397.7 as support.
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 $AAPL: Apple

1. Almost textbook price action this week after breaking the consolidation that we spoke
about last week. We have triggered the $162.6 breakout that we mentioned last week.
2. The next target to satisfy would be $170.57 with $175 above it. We have a ton of support
levels from $162 to $160.2. The main level for a bounce would be $161.20.
3. With two massive continuation candles out of the consolatory range, we expect to be
trading near $170 by the end of the week.
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 $TSLA: Tesla

1. Seeing a bit of a channel forming on Tesla, that alone isn’t enough of a reason to get
bearish, but if we see some bearish pressure at $208.5 then we can look to take a shot at a
pattern breakdown. We have support at $201 and $200, but an actual trigger for the
downside would be a close below $195.4 which would take us to $191.54.
2. Below that we have $183.65 and $182.82 as targets.
3. If we maintain strength above $208.5 then the only level we have is $226.38 which is
very far off the spot price and will kind of put us in no man's land between levels.
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 $NVDA: Nvidia

1. NVDA is entering an area of heavy resistance after a nearly $100 move from the neckline
of this inverse head and shoulders. We have resistance at $278.46, $280.93, $283.86, and
$287.42.
2. Support levels are near $268.4, $260.77, and $256.92.
3. It’s hard to expect much more out of this name, we eventually need to see a phase of
consolidation or a healthy pullback, especially while testing the weekly high near $277.5.
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 $AMD: Advanced Micro Devices

1. Since NVDA is so extended after its breakout, I think we can start to look at the laggards
within the sector like AMD.
2. We’ve seen bullish action since the falling wedge breakout, and it looks like we could see
a three-bar play setup on the weekly at the moment.
3. Looking for longs above $98.5 tomorrow for moves toward $99.69 and then $101.82.
Above $101.82 and we’re targeting $103.61 as the final target from this three-bar.
4. Support levels are near $96.24, $95.69, and $95.27.
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 $MSFT: Microsoft
1. Yet another name where we’ve been posting the reversal opportunity for months and
were finally showing it. Looking for further continuation over $288.66 tomorrow for
moves up to $291 and $291.91.
2. The support rests at $283.55 with lower targets of $281.77 and $279.39 if we break
down.
3. Over this $291 / $292 zone and we have very high upside potential towards $310.
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 $XLF: S&P Financial ETF

1. We’re seeing a beautiful triple bottom bounce at the 2007 highs.

2. There are plenty of individual names within the sector showing inside days from Friday.
3. The current bounce is a higher low compared to the previous two which were right on
level. We’re expecting the bounce to hold and to be trading back near normal levels of
$36 very soon.
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Earnings & Economic Calendar
Previous Close Inside Day