Sunday, May 2, 2021

Sunday Prep (May 3) with RickyAnalog

MEMBER'S ONLY CONTENT

SUNDAY PREP

with RickyAnalog

Alright everyone, it's that time of the week again. I'm watching the following names:

$ES / $SPY, $NQ / $QQQ, $BTC, $CROX, $UPS, $TWTR, $LITE, $HOLX, $BNTX, $VXRT, $CHGG, $IRBT, $CVS, $UAA, $SKLZ, $ATVI, $LYFT, $PYPL, $ETSY, $UBER, $PTON, $SQ, $ROKU, $NET, $BYND

BROADER MARKET

$ES / $SPY (Daily)

$ES / $SPY (1D) daily shows that we are simply trending up the 20d nice and steady. The move has continued sideways for the most part allowing the 20d to catch up. If we hold last week's lows I believe we can have another leg up soon. But if we can't, we could be heading down to visit the low $4,100s.

$ES / $SPY (120 Minute

$ES / $SPY daily showed a nice green daily candle on Thursday, but if we dive into the intraday, we quickly can see that Thursday didn't look so hot till we got that V-shaped recovery midday. But then to turn around and give it all back on Friday really feels ominous. As stated earlier, really think it all hinges on holding last week's lows.

VIEW COMPLETE SUNDAY PREP

$ES / $SPY (Weekly

$ES / $SPY weekly really still helps to keep in perspective that we could still be in for a decent sized correction. Obviously we need to hold last week's lows, but I don't begin to really become cautious until we lose 4110.

$NQ / $QQQ (Daily

$NQ / $QQQ right on the 20d here. Over last week's highs and the trend is your friend. But we lose last week's lows and we may probe down to around 13300.

$NQ (Weekly

$NQ weekly makes things much easier to see. Technically we broke to new highs last week, but not by a lot and we weren't able to close above them. Under 13700 should trigger us down to retest the weekly 20 SMA.

BTC (Daily

$BTC even though we've reclaimed the 20d, this chart still looks broke to me until we are able to make new highs. Till then I'm watching for signs of this to be lower high. But if there's any vehicle out there that constantly surprises, it's Bitcoin/Crypto and the cult it's built up.

LONG SETUPS

Strong Stocks Looking for Continuatio

$CROX (Daily

$CROX had a nice beat on earnings last week and the stock has held the gains very nicely. Will look to buy any flushes towards the 95 area. Definitely possible we never see that low and will still monitor it if we test 97 area and buyers step in. Not going to hesitate to join trend on the name if the trade presents itself.

$UPS (Daily

$UPS another name from last week's earnings beats that has shown follow thru strength. 197 flush is where I want to be looking for scoops. If this name instead gets a few more days of climbing straight up, it very well could be a target for fade as well. But for now I think it's a long on major flushes.

$UAL (Weekly)

$UAL is about as sexy as weekly chart can get for a trend join. If this is ever going to go back to where it was pre-pandemic, it will do it from this bigger picture trend that it's forming. This is simply a pullback to the most recent breakout area as well as the trendline. Not to mention it kissed the 20sma on the weekly.

$UAL (Daily)

Also, keep in mind, their earnings came out last week, so that is out of the way.

$UAL (120 Minute)

Zooming in to the 120m chart, you can see that we just triggered the long. Technical target would be the 20d, but would be willing to swing some to see if it has plans of breaking out above the top trendline around $58.

VIEW COMPLETE SUNDAY PREP

SO MUCH MORE TO READ!

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Everlane: Can the Fashion Disruptor Survive Disruption?

WHAT YOU NEED TO KNOW TODAY: MONDAY, MAY 3, 2021

BoF's latest cover story charts Everlane's strategy to bounce back from a year of scandal, including an exclusive interview with CEO Michael Preysman.
Fashion designers in South Asia find themselves caught in the middle of dowry disputes.
Chanel's virtual fashion show this week may be one of the last of its kind.
Plus, tune into BoF Live this Thursday as we dissect Sephora and the state of beauty retail.