Watch List August 11th

Good Morning,

Yesterday we saw a green but very range bound day for the SPY and a little more rotation out of the QQQ and into the IWM and DIA. This morning three of the four major indices are gapping up, but so far the QQQ is not participating which means we still may see some rotation here today. I will be watching closely to see if the QQQ starts to find a floor here this morning and start moving up with the other indices or if he other indices find a ceiling and start pushing down. It is also worth noting that the SPY candles the last few days have been dojis or spinning tops in a very tight range showing a bit of indecision as we approach all time highs. Overall, our belied that risk should be managed through small position size and more selectivity with where the market is now has only become stronger. Here are a few names that we are watching today:

MAXR off of the weekly watch list I still like over $25 bt I would also consider a swing entry on a test of $24 that finds support

CHEF is in a nice TTM Squeeze and has a great base of anchored volume by price. I like this over 14.50 for a push up to the mid $17s or higher

FITB is in the regional back sector which is getting some rotation in and has a nice TTm Squeeze. I like this on a pullback to 20.50 for a push up to $23 or higher

TCOM is in the travel space which is also seeing some rotation in and in a TTM Squeeze. I like this over yesterday's high for a test of the sma200 and possible push to $31 or higher

PPC is a reversal setup that reclaimed its sma20 yesterday in a TTm Squeeze and may set up a 3/8/20 cross today. I like this over yesterday's high of 16.18 for a push up to $18 or higher

20 views0 comments