The market continues to be very resilient as the SPY continues to hold that ema8. This morning we are looking at a flat to slightly down open as I type, and there is going to come a decision point here pretty soon where the SPY will need to break up over $310 resistance to break down below the ema8. I will continue to be patient here as we head into opex tomorrow. Here are a few names that I will be watching today:
CRWD made a nice move on volume in a TTM Squeeze on the daily yesterday. I like this ideally on a soft open and push up through the $52 level for a move up to the ema34 around $54
SKY is a home builder that moved up on earnings on the 1st of this month and then retraced. It's in a TTM Squeeze and heading back up now. I like this over 31.25 for a push back up to the earnings highs around 32.50
ESTC made a nice double bottom around $70 and is setting up for a 3/8/20 cross in a TTM Squeeze on the daily. I like this over 74.44 for a push up towards the ema34 around $77
NPTN is in a nice flag pattern that looks like it has a little bit more run room. I like this over 8.73 for a push up to $9
GMS is in a TTM Squeeze on the daily and looks ready to break out over 31.40 If you look way back this has lots of room up if it can break the recent highs.
I will also be keeping an eye on ROKU long and SFIX short today, but in both cases I need to see how they behave at the open.