Watchlist 2023-03-20 $GOLD $NEM $WAL $ZION $PACW $RIOT
SPY - reversed early downside action to start the week flat at the moment. Traders are dividend on what to make of the news that central banks around the world back-stopping failing banks and bolstering the flow of cash around the world to prevent a fast-moving loss of confidence in the financial system's stability. Since the moves seem so divided, no bias today unless we see the $ADD (advance decline line start to hold in either direction of +/- 2000 and the $VOLD ratio clearing +/- 3.
Banks:
$WAL, $ZION, $PACW
Central bank backstopping national banks hasn't proven to be a catalyst yet for regional banks. All are stuck in a tight channel atm. But if we can start to see these names holding near the highs of the channel, potential for a BO.
Gold Miners
$GOLD $BTG $NEM- continues to be a dip buy into support - ensure to give it room. GOLD looking at 18.00 but prepared to buy into PD low. NEM may have the best RR to the next pivot for a swing hold.
Crypto:
$RIOT $
Extended into the PM session, waiting for a pullback into PD BO level of 8.00 to structure a long. Need to see buyers step in at this level immediately.
Banks:
$WAL, $ZION, $PACW
Central bank backstopping national banks hasn't proven to be a catalyst yet for regional banks. All are stuck in a tight channel atm. But if we can start to see these names holding near the highs of the channel, potential for a BO.
Gold Miners
$GOLD $BTG $NEM- continues to be a dip buy into support - ensure to give it room. GOLD looking at 18.00 but prepared to buy into PD low. NEM may have the best RR to the next pivot for a swing hold.
Crypto:
$RIOT $
Extended into the PM session, waiting for a pullback into PD BO level of 8.00 to structure a long. Need to see buyers step in at this level immediately.