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Peter's Watch List August 22nd

Good Morning,

The futures have been up, down, and all around overnight and this morning. After a gap up and pretty much trade straight sideways all day type day yesterday, we are up a bit again in the premarket for now. Most of the major indices are right on some major resistance, and it will be very interesting to see how they deal with that in the next couple days. We also saw the release of the FOMC minutes yesterday, and in those minutes they backed up Fed Chairman Powell's comments that the latest rate cut was a mid cycle cut and not part of a program of systemic cuts. Barring any change in this to be revealed at the Jackson Hole conference, I think the market is not going to like these comments being backed up by the minutes. Having said that, I will be watching the indices closely to see if any of them might make a 3/8/20 cross up. In the meantime I will remain pretty patient until I see how this test of resistance resolves. Here are some names that I will be watching today:


GLDD made a strong move yesterday on nice volume and starteed a TTM Squeeze. I like this over $11 for a move to the mid $11s


AXSM has a long TTM Squeeze on the daily and made a move over its sma20 yesterday. I like this over 26.07 for a move $27 or higher


OKTA has a nice TTM Squeeze on the daily and is setting up for a 3/820 cross on the daily. I like this over 137.75 for a move to $140 or higher


CARA had a nice 3/8/20 cross recently on the dauly and is starting a TTM Squeeze. It also has some nice trial catalysts upcoming in the 4th quarter. I like this over 24.32 for a move to $25 or hgiher


RPM has a nice TTM Squeeze on the daily and held its sma20 on a small oullback off of its recent highs. I like this over 68.34 for a move to $70 or higher