Lots of banks running in AH

WAL, MCB, FRC

GFAI spike.  Nice buy mastermind

I think GFAI has a nice falling wedge on the 1 hour chart.

Thank you  Matt and Steve for a great week!  You guys crushed it and helped me get positioned for this recent rally.   Have a great weekend.

Bank discussion

rbreese brought up the banks and I've been meaning to write how I'm playing this.  The mega banks all report the week of April 10th.   Many regionals report the following week.  Earnings will be heavily scrutinized, looking for bond portfolio losses etc.  Many of the regionals and private banks will be looked at even closer.  With the quarter end today, banks will be required to file their CALL report by April 30th.  The private bank data gets filed under the Uniform Bank Performance Report (UBPR).   https://www.ffiec.gov/ubpr.htmThe 1Q data won't be available until May 1st.  The UBPR for Q1 is where I think we could see additional downside for the regionals / KRE.  If a bank ran into liquidity hang ups and decided to take some bond portfolio losses, its going to reflect here.  While bond portfolio losses have improved since yields have come down, its the actual realized losses the bank took in the quarter that will create further market nervousness. 

I'm scaling into KRE May 19th Puts to play this.

BRDS - Lots of volume this week.  Low priced name.

UMBF as well

SGML on deck again.  $38 showing resistance.

NVDA Fib at 61.8% of the Nov 2021 high of $346.05 and the Oct 2022 low of $108.08.  61.8% retrace of that decline is $255.14.

Nice charts mla127

Showing some strength this morning

Bear flags forming in Homebuilders - DHI, LEN, MTH, KBH

GOCO continues to coil.  Needs more volume but this is a nice base.

The strength in housing stocks is impressive given the backdrop.  I work in mortgage for a community bank and it is slow......much of this economy hasn't factored in the higher rates.  Not trying to argue with the tape....a bit of a head scratcher though.

Blown up afterhours - 27% - DOJ Fraud Investigation over FTX

GOCO setting up again in my opinion - Wish it had more volume but it looks like a large cup and handle forming over the last 6 months.  Volatile name.

https://schrts.co/csupukPX 

same for PI - Impinj - Another strong name

Kissing the underside of the rising wedge SPY

Matt, possible retest of the downtrend line?

CENX - Century Aluminum - 7 month inverse head and shoulders forming  https://schrts.co/wJTQGjMK