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Peter's Watch List October 23rd

Good Morning,

It was quite an interesting day for the market yesterday. We saw a modest gap up and largely sideways action all day until about 2:30 when we saw a pretty good pull that continued to fade into the close. This left us with a bearish engulfing candle on the daily, which is a potential reversal signal. In line with recent action though, there are some mixed signals. Although we have the bearish engulf, we mostly held above Monday's lows and are still quite a bit above the ema8. So far in the premarket we are looking like we will open with a modest gap down, but a lot could change by 9:30 I will continue with a patient approach, and I won't get overly excited by any price action between all time highs and the 294 area for the SPY. Here are a few names that i will be watching today:

LK had a 3/8/20 cross recently and also took out its sma50 and 100 yesterday. I like this over 21.41 for a push up towards $22 or higher

FIT was a name that we had on watch yesterday, and unfortunately I missed a nice move. I still like this today for continuation over yesterday's high. I like this over 4.45 for a push up towards the sma200 in the high $4s

HOME has been consolidating in a TTM Squeeze over its sma20 on the daily. I like this over 10.23 to 10.25 area for a much up the mid to high $10s

HIBB is in a TTM Squeeze on the daily and in a nice cup and handle pattern. I like this over 23.52 for a possible push up to $24 or higher

SAIL is a name we had on watch yesterday that mostly traded sideways in a weak tape. I still like this one over $19 for a push up to the mid to high $19s

URBN is a name that had some unusual options activity yesterday and is in a large cup and handle pattern. I like this over $29 for a push up to $30 or higher