What a crazy after hours and overnight session for the market. Everything went deep red on news of an Iranian airstrike on a US air base only to completely recover and go green here in the premarket for now. All I can say is that this market is very, very difficult to navigate right now. It feels like it's a coin toss on whether we make a new all time high or have a deeper pullback in the coming days. The only thing we can do as traders is to limit our overnight risk and follow price action. For me that means limited swing positions and keeping position size small on any overnight holds until things settle down. Here are some names that I will be watching today:
CVET has a nice TTM Squeeze on the daily and is regaining its sma20 in an inverse head and shoulders pattern. I like this over 13.92 to $14 for a push up towards $15
PGNY is a recent issue that had a pretty good pullback off of its highs and has rounded back up in a TTM Squeeze on the daily. I like this over $30 for a push to $31 or higher
UBER was on watch earlier this week and still acting well here. Ideally I'd like to see a soft open here and get an entry on a move back up through 32.50 for test of $33 and possible push higher
PINS is in a nice TTM Squeeze on the daily in a reversal pattern. I like this over yesterday's high of 19.42 for a push up to test $20 and possibly break higher
SAIL is in a consolidation pattern off of recent highs and is starting to push up off its sma20 in a TTM Squeeze on the daily. I like this over 24.33 for move up to recent highs around $25
ULTA is consolidating very nicely after a gap up on earnings last month and is now in a TTM Squeeze on the daily. I like this from $253 up to $254 for a potential break up out of the consolidation pattern with lots of range up. If I take this trade it would probably be a swing trade with just 1 or 2 contracts of February calls.