Yesterday all the major indices gapped down and tried to push up only to fade further. We also saw the VIX push back up over 20 which is a key level for me. When the VIX is over 20, the volatility makes swing trading near impossible and day trading much more difficult. Overall this remains a time to be very cautious until this current pullback in the market settles down. My main focus will be on our five minute day trade strategies which don't really care what the daily fluctuations in the market are. I do have a small list of other names that I will be watching today:
AIMT has an FDA Advisory Committee meeting coming up in September and looks like its setting up to make a move into that meeting. It also has a nice TTM Squeeze on the daily. I like this over 20.35 for a move to $22 or higher
RCII has a nice TTM Squeeze on the daily and just reclaimed its sma20. I like this over 27.50 for a move to the mid $28s or higher
AEP has a nice TTM Squeeze on the daily and had a nice 3/8 cross over the sma20. I like this over 90.66 for a move to $92 or higher
If you have any questions, please feel free to email me at firstname.lastname@example.org and trade green!