We are getting a pretty good gap up in the major indices this morning in the premarket, and the market continues to show quite a bit of resilience. It is also worth noting that the VIX continues to ease here this morning. For now it looks like the SPY will gap over that key anchored vwap level around 284.50 that has been acting as resistance as well as pulling up and away from the sma50. It will be very interesting to see if that holds up throughout the day. Today I will mostly be focused on the weekly watch list, but I also have a few other names that I will be watching:
NVCR is a biotech company that is reporting earning later this week and looks poised for a run up into that. I like this over $74 for a push up to $77 or higher
NLOK is in a sloppy but large inverse head and shoulders pattern with a large gap above. I like this over Friday's high around 21.25 for a push up into that gap and towards its sma200 at 22.77
BLL is another name reporting earnings later this week, but it is looking weak heading into that. I like this short it it finds resistance at its sma20 today around 66.34 and starts to pull back.