My high beta watchlist for May 2

NOTE: The charts below are all 15-min candles.

$SPY pulling back off it’s highs after double topping around the 159.7 level. Next level of support comes in about 157.75 and I wouldn’t be surprised to see us test that tomorrow. ECB news tomorrow AM and then jobs numbers on Friday should give the algos a reason to whip price around.

https://www.tradingview.com/x/zUvhfM05/

$AAPL holding up well here. has some clear support around 435 demonstrated today by the bulls, below that your next level is about 430 and it would be a nice change of pace for the bulls if we can flag above that for a few days. I do like apple to the long side for day trades but we need to keep in mind we’re at the mercy of this macro data for the rest of the week.

https://www.tradingview.com/x/YZcdGYBD/

$GOOG holding up real well today given the market pull in. Today’s lows around 817 is clear support. Below that could be a quick trip back to the 808ish. I do like google overall up here but I am a little skeptical it can maintain this high level base.

https://www.tradingview.com/x/MekqgvYo/

$NFLX seems like this stock only wants to move in 20%+ increments. Continues to base within a tight range after its explosive earnings move. Levels are clear here, trade your plan.

https://www.tradingview.com/x/m4lpCG7p/

$FB earnings out tonight which seemed to be a nonevent. Sitting in a relatively steep channel. Not much else to say, tomorrow should see an accelerated thrust higher or a breakdown to test the gap, time will tell.

https://www.tradingview.com/x/rkUzLV2l/

$AMZN weakest of the bunch. Needs alot more time to create a better base before I would consider any longs. In play on the short side until then.

https://www.tradingview.com/x/WO73X3IU/

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Evan Medeiros

Evan is the founder of The Trade Risk, a financial media company that publishes research and analysis about the stock market and specializes in trading education. With 20+ years of coding experience and a B.S. in computer science, Evan brings a systematic discipline to investing in the stock market.

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