Dare I say that we might see a relatively flat open today? These have been some crazy volatile times, and I will be keeping a very close eye on the VIX today to see if there are any signs of a potential break down out of the steep ascending wedge that it is in. This wouldn't mean that things are going to see any huge improvement as far as the overall market and major indices, but it would certainly make trading conditions much better. I will continue to watch the usual suspects like AAPL, FB, MSFT, AMD, and BABA for any rallies to resistance for potential short seupts, but I also have a few names that i am watching for some potential long setups today:
ZM is a stay at home corona virus play, and I would be interested in a pullback and hold of the sma20 on the daily for a potential swing if market volatility eases a bit
PTON is another corona virus stay at home play that is interesting here. The closer I can pick this up to the sma20 the more I like the setup, and again here I would be more interested if market volatility eases a bit
LAKE is a norona virus protective equipment play that would get interesting if the TTM Squeeze gives us a yellow bar int he coming days
BA is a name that is severely oversold and under a lot of pressure but could give a violent rally on any tiny bit of potential good news.