We saw a pretty indecisive day for the market yesterday with a gap up. move down, and then move back up to close slightly green on the day. The market continues to hold its sma20, and it is trying to regain its ema8. As I type here at 7:45 AM Eastern, we are looking at a modest gap up for the major indices, but that could certainly change in either direction at 8:30 when the employment numbers come out. I will continue my patient approach and continue to focus on shorter term trades for the most part. Here are some names that I will be watching today:
HOV is a home builder that made a strong move over its sma20 yesterday on high volume along with many others in the sector. I like this over 25.45 for a test of $26 and possible push higher
PHM is another home builder that looks strong. It has a TTM Squeeze on the daily and got a nice push up off of its sma20. I like this over 40.33 for a push up to $41 or higher.
MLSS is a name I considered for an overnight swing last night, but decided to put it on watch for today instead. I like this over 1.51 for a push up into the 1.60s
WORK had earnings yesterday and has showed a lot of indecision as to which way it goes. I think if this gets over $23 it will start to get the shorts worried and possibly give a nice pop. I like this over $23 for a move to the mid to high $23s
KTB has a nice 3/8/20 cross with a TTM Squeeze on the daily. I like this over 38.62 for a push up to $40
ITT is in a very nice bull flag in a TTM Squeeze. I'd like to see the TTM momentum shift to light blue and would be interested in a move over 70.86 with that light blue bar to potentially break up out of this flag.