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Peter's Watch List December 19th

Good Morning,

The market has been showing us a lot of indecision at all time high resistance for most of the major indices. Looking at the SPY, we have seen a couple tight range spinning top candles after the big breakout last week. Yesterday the SPY made many attempts to get through the resistance zone of $320 to 320.25 and was not able to do it. As traders we need to be patient here and let the market either work its way through its resistance or give us a pullback. We do not want to guess which way this will resolve, the market will give us a clear direction soon enough. In the meantime, I will continue to focus on shorter time frame trades. Here are some names that I will be watching:


XBIO worked its way over its sma100 on volume yesterday. I like this ideally on a soft open and then move through 1.55 but would also consider entry up to yesterday's high of 1.63 for a move up to the high $1s


CRNT made a strong move up yesterday after weeks of trading sideways in a bottoming pattern. I like this over yesterday's high of 2.08 for a push up into the mid $2s


OPGN is in a nice reversal pattern in a TTM Squeeze on the daily. I like this over 1.43 for a test of 1.50 and possible move to 1.60


SILK has a bit of an inverse head and shoulders on the daily and has a TTM Squeeze. I like this over 38.50 for a test of $39 and possible push to $40


SHAK is trying to reverse after a big selloff. I will be looking for a 3/8/20 cross up and ideally look for entry over yesterday's high of 60.57 for a move up to $62


TRIP is another beat up name that is starting to reverse. I like this over $30 for a push up to $31 or higher


Z is in a very long rounding pattern and has a nice gap above. I like this over 44.58 for a move to $46 or higher