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Peter's Watch List August 29th

Good Morning,

Yesterday we saw a gap down in the markets that got bought up and pushed up all day. This morning we are seeing a gap up open on news that China said it is talking to the US about having further trade talks in September. This will see most of the major indices gap up over their sma20 which has been an important area of resistance. It will be very important to see if this move can hold and if it leads to a 3/8/20 cross for the indices. On any further move up we will also need to deal with the Fib level resistance around 294. Last but not least, the VIX also appears to be easing, but we do need to be mindful of the TTM Squeeze on the daily there. Here are a few names that I will be watching today:


NTGR is in a nice flag and just regained its sma20 with a nice TTM Squeeze on the daily. I like this over 33.63 for a $34 test and possible push higher


KAR has been consolidating between its sma50 and sma20 and is setting up for a 3/8/20 cross. It also has a TTM Squeeze starting on the daily. I like this over $26 for a move to $27 or higher


CWST has a nice TTM Squeeze on the daily and held its sma20 in a pullback off of recent highs. I like this over 46.56 for a move towards $48


CYTK has been in a strong uptrend since March with a TTM Squeeze on the daily. I like this over 14.42 for a push up to $15 or higher


WY is trying to work its way over its sma200 and has a bit of a sloping inverse head and shoulders set up with a TTM Squeeze on the daily. I like this over 25.75 for a test of $26 and possible move to $27


UPS gapped up on earnings and retraced and is now setting up for a possible 3/8/20 cross on the daily with a nice TTM Squeeze. I like this over 116.79 for a move towards $120


SBUX is one I've been watching for a while since it gapped up on earnings and retraced. It's holding its sma20 and in a TTM Squeeze on the daily. I like this over 97.50 for a move toward $100