Mid-Week Routine – April 13, 2021

SUFO – Stocks Up From Open
SDFO – Stocks Down From Open
U/D – Up/Down
RV – Relative Volume
HRV – High Relative Volume
LRV – Low Relative Volume
EOD – End of Day
PLG – Potential Leadership Groups
DMA – Daily Moving Average
KMA – Key Moving Average

Leadership Day – Indexes finish up on the session with leadership groups leading from the open.
Rotation Day – Indexes finish up on the session with laggards leading from the open.
Distribution Day – Indexes finish down on the session on increasing volume vs prior day. Track index volume: https://www.traderlion.com/stock-market-exchange-volume/

Reviewing Current Positions

SymbolBaselineMagnetEOWPink LineMoneyFlowThought Process
FEYE$20$21>$20++Recent Repeat IOF$20 remains baseline risk. Must hold $20 to continue to hold stock here.
UPWK$45$55>$45++Large IOF Recently$45 remains baseline risk. Will protect cost basis here.
UBER$55$60>$55++Large IOF RecentlyOn watch for consolidation near $60s or gap fill back to $57s. Will take first 1/3 on weakness in price and close below $60.
PINS$75$80>$75++Large IOF RecentlyOn watch for consolidation below the $85 mark into EOW.
RBLX$75$80>$75++Repeat IOF RecentlyOn watch for consolidation near or above the $80s. Manage accordingly.
TSLA$700$800>$700++MixedOn watch for $700s to hold into EOW.
Reviewing current positions to know pain points – Cash Position

Weakest to Strongest Positions: FEYE, UPWK, UBER, PINS, TSLA, RBLX

2. Market Review

SP500Nasdaq
Market ConditionsConfirmed UptrendConfirmed Uptrend
Distribution Count01
Reclaim10DMA10DMA
Market Indexes via Top 10 Report
sc 77
sc 62
sc 78


What Would Webby Do (WWWD):

Date: Tuesday, April 13, 2021

Overview: Day 6 of software rotation, with liquid leadership acting incredibly well. HTF WL having some trouble, as money seems to rotate out of these ‘second tier’ names into liquid, institutional names. A lot of good action going on, and environment seems to be shaping up well as charts consolidate and quiet down their ranges on decreasing volume. Most prior leadership is taking back their 50dmas, as social media / semis taking breather while software leads amongst PLGs.

Facts: +1.05%, 86% closing range on decreasing and below average volume

Good: S&P closes above TL Daily Plan bolded pivot of $4015. We also have 10/11 gauges on the TL Daily Plan being respected on a closing basis. Longer term KMA’s are being respected on low volume retraces, making risk very easy to manage. Names that have come straight up off the bottom are now consolidating nicely on below average volume, setting up future areas to buy on strength if market allows. IPO names in RBLX PLTR act incredibly well while prior leadership TSLA ROKU types are coming back into favor. TSLA RBLX two standouts today along with UPWK > $50.

Bad: Want some more firmness intraday but even this area is much improved from last week. There are also a lot of potential gaps to be filled on the downside for the indexes – something to track. Per Webby’s Really Simple Indicator, we are above the 0.5%-2.0% ‘healthy bull market’ threshold so mentally prepare for some retrace whenever that comes. Today’s strong price action occurred on lower volume than the previous day.

Candle: Medium size positive body, tiny upper wick and no lower tail.

Expectation: Sideways/Higher

Webby’s Really Simple Indicator (RSI): 2.80%

TL Version 4132021


Webby RSI – Low vs 21day EMA expressed as a percent. NOT the regular RSI that everyone hears about.

3. Sector, Group, Industry Review

1 Week Leading Performance-Momentum Groups: Software, Consumer Discretionary, SP500 Growth, Technology, Social Media
1 Week Lagging Performance-Momentum Groups: SP Biotech, Oilers, Nasdaq Biotech, Energy, Semis

1WeekGroupPerformance413

4 Week Leading Performance-Momentum Groups: Miners, Technology, Home Construction, SP500 Growth, Utilities
4 Week Lagging Performance-Momentum Groups: US Cannabis, SP Biotech, Oilers, Solar, China Internet

4WeekGroupPerformance413

Members: Log In to see Full Mid-Week Routine.

Top 20 Industry Groups From MarketSmith

Top Industry Groups: Oil&Gas, Retail, Metals/Steel, Transportation, Banks, Computer-Integrated Systems

Screen Shot 2021 04 13 at 7.24.39 PM

4. Key Watchlist Review

Hight Tight Flag Candidates (HTF) Watchlist
Brackets () show levels of interest on the upside/downside. These are key data-based levels to keep track of.

Standouts: COHU* FUTU(140) GRWG(50) PLBY REVG RIOT SI(160) VUZI(25) MGNI UNFI BW(7.5)

IPO Watchlist

Standouts: ALHC ASO CRSR*(35) DASH MCFE MRVI MUDS NARI PLTR*(25) RBLX* TLS(35) YALA ZIM VZIO COUR SHLS*(35) PUBM(55)

Gappers Watchlist

Standouts: APPS AVYA(30) BILL(155) CONN(21) DT(50) FEYE(20/21) GOOG NET(75/80) NTST PINS(80) PYPL QUOT SNAP(60) SONO(40/45) TWLO(380) UPWK(50) ZS Z (140/145) CELH(50/55)

Handwritten Notes:

2727EA4B DAFF 4F82 8532 5F0AE7D1EA82

5. Top 10 Report Plan

SymbolBaselineMagnetT10 PivotPink LineMoneyFlowThought Process
AEIS$110$115$122.36NoneOn watch vs T10 Pivot.
EBAY$60$65$63.98Repeat IBT&IOF recentlyOn watch vs T10 Pivot and a close above $65 EOW bases on T10 Pivot attempt.
ETSY$200$220$231.34Repeat IBT& IOF recentlyOn watch vs T10 Pivot and RS vs $220 on market turbulence.
PINS$80$85$86.11Repeat Large IOF recentlyOn watch vs T10 Pivot and RS vs the $80 on market turbulence.
PTON$100$125$124.50▲▲Repeat IBT recentlyOn watch vs T10 Pivot and a close above the $125 mark on
SNAP$60$65$65.13▲▲MixedOn watch vs T10 Pivot and a close above $65 on its T10 Pivot attempt and RS vs the $60 on market turbulence
SQ$260$280$283.19▲▲Large IOF RecentlyOn watch vs T10 Pivot and close above $280 on its T10 Pivot attempt and RS vs $260 on market turbulence.
SWKS$165$190$191.97MixedOn watch vs T10 Pivot.
UBER$60$65$61.02Repeat IBT Recently and Large IOFOn watch vs T10 Pivot and a close above $60 on its T10 Pivot attempt and RS vs $60 on market turbulence.
SLQT$30$35$32.55Repeat Large IBT RecentlyOn watch vs T10 Pivot and RS vs $30s on weakness.
HZNP$90$95$93.73NoneOn watch vs T10 Pivot.
Stocks in bold in the Symbols column are of interest and will be on my focus list.
TL Acronyms | TraderLion

6. Swing Trade Plans (STPs)

Same as Weekend Routine.