We have a busy but short week ahead of the holiday Easter weekend.
On Tuesday morning, the consumer price index (CPI) report is released, which is the start of our catalysts this week.
Premarket on Thursday, there are a number of bank and semiconductor chip names reporting. Also look out for the retail sales numbers to see if it could move this volatile market.
The S&P 500 (/ES) was sitting in a major key zone from the March Ichimoku Cloud top at $4,510 and the April Ichimoku Cloud top from $4,455. This is our line in the sand and the biggest zone we’ll be focusing on.
Here is our focused list:
SHOP — Proposed a 10:1 stock split, SHOP hit point of control (POC) at $644 on Monday. If it breaks through $630, look for a pop to POC. If it doesn’t pop, look for SHOP to drop to $600 and hit our downside targets at $585, $574, $555, and potentially $540.
AMD — At a massive inflection point at $99.23. Our downside target range is from $95 to $92. Ideally, look for a pop toward the $99 level. If AMD holds $99, this could be a dip buy to $102.
NVDA — Gapped down on Monday. See if NVDA reaches the $209 to $206 level that it has continued to bounce off of. If it pops toward $221 to $225, this could be a short opportunity. Above this range, our next target is $231.
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Stay Focused!