Mid-Week Routine – April 13, 2021
Reviewing Current Positions
|Symbol||Baseline||Magnet||EOW||Pink Line||MoneyFlow||Thought 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 Recently||On 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 Recently||On watch for consolidation below the $85 mark into EOW.|
|RBLX||$75||$80||>$75++||▼||Repeat IOF Recently||On watch for consolidation near or above the $80s. Manage accordingly.|
|TSLA||$700||$800||>$700++||▲||Mixed||On watch for $700s to hold into EOW.|
Weakest to Strongest Positions: FEYE, UPWK, UBER, PINS, TSLA, RBLX
2. Market Review
|Market Conditions||Confirmed Uptrend||Confirmed Uptrend|
Market Indexes via Top 10 Report
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.
Webby’s Really Simple Indicator (RSI): 2.80%
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
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
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Top 20 Industry Groups From MarketSmith
Top Industry Groups: Oil&Gas, Retail, Metals/Steel, Transportation, Banks, Computer-Integrated Systems
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)
Standouts: ALHC ASO CRSR*(35) DASH MCFE MRVI MUDS NARI PLTR*(25) RBLX* TLS(35) YALA ZIM VZIO COUR SHLS*(35) PUBM(55)
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)
5. Top 10 Report Plan
|Symbol||Baseline||Magnet||T10 Pivot||Pink Line||MoneyFlow||Thought Process|
|AEIS||$110||$115||$122.36||▲||None||On watch vs T10 Pivot.|
|EBAY||$60||$65||$63.98||▼||Repeat IBT&IOF recently||On watch vs T10 Pivot and a close above $65 EOW bases on T10 Pivot attempt.|
|ETSY||$200||$220||$231.34||▼||Repeat IBT& IOF recently||On watch vs T10 Pivot and RS vs $220 on market turbulence.|
|PINS||$80||$85||$86.11||▼||Repeat Large IOF recently||On watch vs T10 Pivot and RS vs the $80 on market turbulence.|
|PTON||$100||$125||$124.50||▲▲||Repeat IBT recently||On watch vs T10 Pivot and a close above the $125 mark on|
|SNAP||$60||$65||$65.13||▲▲||Mixed||On 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 Recently||On watch vs T10 Pivot and close above $280 on its T10 Pivot attempt and RS vs $260 on market turbulence.|
|SWKS||$165||$190||$191.97||▲||Mixed||On watch vs T10 Pivot.|
|UBER||$60||$65||$61.02||▼||Repeat IBT Recently and Large IOF||On watch vs T10 Pivot and a close above $60 on its T10 Pivot attempt and RS vs $60 on market turbulence.|
|SLQT||$30||$35||$32.55||▲||Repeat Large IBT Recently||On watch vs T10 Pivot and RS vs $30s on weakness.|
|HZNP||$90||$95||$93.73||▼||None||On watch vs T10 Pivot.|
TL Acronyms | TraderLion
6. Swing Trade Plans (STPs)
Same as Weekend Routine.