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Peter's Watch List October 29th

Good Morning,

Yesterday we saw a strong gap up and go from most of the major indices, but we did see a bit of an afternoon fade that left us with some indecisive daily candles on all of the majors with the exception of the QQQ that went up to some trend line resistance and stayed right below it. Overall, we are still at some major potential resistance areas for the major indices as we head into a FOMC meeting that starts today with a rate decision tomorrow. I will remain patient and remain focused on shorter time frame trades. Here are some names that I will be watching today:


VKTX is a beaten up biotech name that made a strong move off of the bottom the last two days on high volume in a TTM Squeeze on the daily. This one may need a rest, but if it wants to keep pushing I like it over the 6.95 to $7 area for a move up to the mid $7s


SNAP is setting up for a 3/8/20 cross and is starting a TTM Squeeze. I like this over 14.73 for a test of $15 and possible move higher


ROKU may be a little extended here, but it showed some serious strength on high volume yesterday and could keep pushing higher into its earnings call next week. I like this over $148 for a test of $150 and possible move higher. Please note that if this sets up it will likely be volatile and I will trade it with small size.


SRPT is a beat up mid/large cap biotech that is showing some signs of reversing. I like this over 88.68 for a test of $90 and possible push higher


PRSP has been consolidating under recent highs and just had a 3/8/20 cross on the daily in a long TTM Squeeze. Ideally I would like on a pullback and hold of the $26 level and would only be interested in entering the trade on the way back up off of that potential support.