Watchlist 18th March 2022

Yesterday was very eventful with 5 new entries taken within a single trading session. We’ve been waiting 3-4 weeks for market conditions to calm a little, volatility to die down and to be presented with some nice set ups.

I mentioned on the 15th March how I felt we were likely to bounce, due to underlying conditions and the “news is out” type scenario. So far history repeats itself once again.

Tech was the first and hardest to move with aggressive bounces across the board, some of which are already a little extended on smaller timeframes. When we add in the fact that we have Quad Witching today I’d be extremely cautious taking any new positions into the weekend.

The uranium sector is starting to set back up again after huge moves across the board In yesterdays trading session. However they’re all a little extended and would require obvious and aggressive follow through to get involved today.

$ADM – Nice flush below the 10ma followed by an instant reclaim. Over $84 would signify a daily breakout for a move into potential new ATH.

$UNP – A beautiful set up flagging into ATH with a nice test and reclaim of the 10ma. Looking for a break of $264 to shove.

I’ll be looking to hold all positions into the weekend unless conditions state otherwise. A quiet day waiting for a fresh week.