The market was pretty indecisive and traded in a very tight range yesterday with all the price action inside of Friday's candle. With the FOMC meeting starting today and the rate decision coming tomorrow at 2 OM Eastern, we may see some more of the same. We also saw a small pop in the VIX yesterday, and it is up again in the premarket today. All the major indices are looking to open down a bit this morning if things hold up as they are now. I have a small list of names that I will be watching today, and will likely be more focused on five minute control candle and reversal setups.
SOLO had a big move in early July which retraced and is now coming back on again. I like this over yesterday's high of 3.10 for a test of 3.25 and possible move higher
ANF finally worked its way over resistance at the sma50 yesterday, and I like this for continuation over yesterday's high of 18.90 up to 19 for a move towards the gap above
HMSY made a nice move up in early July and retraced back to the sma20 and is now coming back on. It also has a TTM Squeeze on the daily chart. I like this over $35 for a move to $36 or higher
MCK is just starting a TTTM Squeeze on the daily and has been consolidating along its sma20. I like this over 141.50 for a move to $143 or higher
MDCO has a TTM Squeeze on multiple time frames and recently held its sma50 and regained its sma20. I like this over 37.50 for a move to $39 or higher
CPB is in a long flag pattern on the daily and just regained its sma20 while starting a TTM Squeeze on the daily. I like this over 41.42 for a test of $42 and possible move higher
As always, feel free to email me at email@example.com with any questions.