Mid-Week Routine – April 7, 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.
KOPN$10$15>$10++Large IOF Recently$10 remains baseline risk. Will protect cost basis here. Short leash.
PINS$75$85>$80++Large IOF RecentlyV-Shape on the right side. The expectation here is for it to retrace to $80. EOW above $80 is a ++
UBER>$57++Large IOF RecentlyEarly positioning vs 10WMA. Will continue to hold on closes above $57. Eyes on $60 to add more stock.
Reviewing current positions to know pain points – Cash Position

Weakest to Strongest Positions: None

2. Market Review

SP500Nasdaq
Market ConditionsConfirmed UptrendConfirmed Uptrend
Distribution Count22
Reclaim10DMA10DMA
Market Indexes via Top 10 Report
sc 38
sc 21
sc 40


What Would Webby Do (WWWD):

Date: Tuesday, April 6, 2021

Overview: Day 2 of software rotation, and leadership seemingly decoupling from indexes yet again. 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.

Facts: -0.05%, 23% closing range on decreasing and below average volume

Good: S&P closes above TL Daily Plan bolded pivot of $3930. Sideways action on the indexes today allows for stocks to decouple and trade on their own merit. This is how we generate alpha! Indexes going sideways is also the healthiest form of rest, as we let the moving averages catch up to price as well as create ranges to trade on. Individual names show signs of life and chart repair even if they aren’t perfect, namely CRSR FEYE GRWG APPS & some others. Social media also acted well for the most part in PINS leading, with SNAP TWTR acting well as well. Bunch of names shaping up and allowing proper chart formations to come back into the know.

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.

Candle: Small size positive body, longer upper wick and tiny lower tail.

Expectation: Sideways/Higher

Webby’s Really Simple Indicator (RSI): 2.69%

TL version 462021


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: Robotics, Miners, Software, Social Media, Casinos, Semiconductors
1 Week Lagging Performance-Momentum Groups: Health Care, Energy, Oilers, Vanguard Health Care

1MidWeekGroupPerformance

4 Week Leading Performance-Momentum Groups: Miners, Home Construction, Real Estate, Utilities, Semiconductors
4 Week Lagging Performance-Momentum Groups: Oilers, US Cannabis, China Internet, SP Biotech, Banking

4MidWeekGroupPerformance

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Top 20 Industry Groups From MarketSmith

Top Industry Groups: Oil&Gas, Retail, Metals/Steel, Transportation, Banks, Semiconductors

Screen Shot 2021 04 06 at 7.00.28 PM

4. Key Watchlist Review

Hight Tight Flag Candidates (HTF) Watchlist

Standouts: CLNE EGHT* FUTU KOPN* MOGO MORF ORBC RIOT* SI ZDGE AMRS GMBL COHU USIO HIMX

IPO Watchlist

Standouts: ABNB BMBL CRCT CRSR* DOCN FOUR* LDI* MITC PUBM* RBLX SHLS (renewed add) UPST* GHVI SLQT YALA

Gappers Watchlist

Standouts: APPS* AVYA* CONN DT* FEYE* GOOG* GRWG* PINS* TDC UPWK* DMYD ZS NET VCEL

Handwritten Notes:

BAFCE476 0705 4780 B923 8816B2B1B14D

5. Top 10 Report Plan

SymbolBaselineMagnetT10 PivotPink LineMoneyFlowThought Process
BILL$150$150$155.72Repeat IOF RecentlyOn watch for RS vs $150 on market turbulence and T10 Pivot on strength.
EBAY$60$60$63.98Repeat IBT&IOF recentlyOn watch for RS vs the $60s on market turbulence and T10 Pivot on strength.
MU$90$95$95.75Large IOF recentlyOn watch for RS vs $90 on market turbulence and T10 Pivot on strength.
PYPL$240$26050-DMARepeat Large IOF recentlyOn watch for RS vs $240s on market turbulence and T10 Pivot on strength.
SQ$230$240$252.50Large IOF RecentlyOn watch for RS vs the $230s on market turbulence and T10 Pivot on strength. Watch for a close above $240 on T10 Pivot attempt.
SSTK$85$110$94.80NoneOn watch vs T10 Pivot
TSLA$600$700$717.85MixedOn watch for RS vs $600 on market turbulence and vs T10 Pivot on strength.
CROX$80$80$82.43Large IOF recentlyOn watch for RS vs $80s and T10 Pivot on strength. An attempt of T10 Pivot watch for close above $80.
LOVE555$55$64.40MixedOn watch vs T10 Pivot.
YETI$75$75$76.77Large IOF recentlyOn watch vs T10 Pivot and close above the $75 mark on its T10 Pivot attempt.
ALGN$540$580$566.65NoneOn watch for RS vs $540 on market turbulence and on 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.