Peter's Watch List December 11th

Good Morning,

Welcome to FOMC Day! We have the FOMC rate decision at 2 PM today and it is widely expected to be a no change decision. What is more likely to move markets is not the decision itself but the language used to talk about what happens going into 2020. Keep in mind that on a typical FOMC day we see a move, then a counter move, and then only after that a direction. I am most likely going to focus on five minute control candle and Gap n Reverse setups this morning, but I do have a short list of other names that i will be watching as well:

BXC is a beat down name that made a strong move up to its sma20 yesterday. I like this over its sma20 and the $12 level for a move up to the mid $12s

CLVS is a name that we have been day trading a bit in the room, and it stalled yesterday at its sma200 on the daily after initially popping over it about a week ago. I like this over 12.50 for a test of the sma200 and possible push up to recent highs

ACRX made a strong move over its sma50 yesterday and took out the $2 level. I like this over 2.06 for a move up to the sma100 around 2.20

CHWY is in a nice TTM Squeeze on the daily and has taken out its sma50 over the last few days. I like this over 25.70 for a test of $26 and possible push higher

MNST has a very nice double top around 61.55. I like it over that level for a move to $63 or higher

KR was on watch yesterday and I still like this on a break of $28 for a push up to $29 or higher

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