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Peter's Daily Watch List July 24th

Good Morning,

The market made a nice move up yesterday, but we are right back into some stiff resistance as the SPY stalled at the very important $300 level. This morning in the premarket, the major indices are all down and the VIX is up. These days a lot could change before the open, but it looks like the market may need a little rest after bouncing off of the sma20 and moving right back into resistance. It still remains a time for me to focus on shorter term strategies until we see a stronger indication of short term market direction. Here are some names that I will be watching today:


YETI is approaching a double top and is a nice cup and handle type pattern. I like this over 36.50 for a move to $38


LK gave us some nice trades yesterday and is back on the list for today. I like this over 23.50 for a move to $25 or it's one that I would be interested on a pullback and hold of the $23 area


GT is a nice reversal pattern with a TTM Squeeze on the daily that may move a bit into earnings on Friday morning. I like this over 15.50 for a move to 16 or higher


RXN made a nice move over the sma20 yesterday as it is heading into earnings next week on 7/30. I like this over 29.22 for a move to $30 or higher


CREE was on our watch list yesterday and made a nice move. It has a TTM Squeeze on the daily and looks like it may continue. I like this over 61.50 for a move to $63


IFF made a nice multiday move in June and pulled back right to the .618 Fib level and now had a 3/8/20 cross on the daily with a TTM Squeeze. I like this over 145.25 for a move to $147 or higher.


PINS made a small but significant move up yesterday as it took out its sma20 and ema34. I like this over 26.85 or even on a $27 break for a push up to $28


If you have any questions, please feel free to reach out to me at peter@thetraderspath.com and trade green!