Watch List August 11th

Good Morning,

Yesterday we made new all time highs on the SPY and some early volatility followed by a mostly rangebound market with very little movement in the indices or individual names, which is not all that surprising as we sit on all time high resistance. This morning we are looking at a moderate gap down in all of the major indices and a flat open for the VIX. IT is starting to feel like a bigger move in the SPY s coming, but it's tough to say if that will be a pullback or a breakout through the $442-443 area that has been resistance for the last several days. Overall we remain long biased but cautious. Here are some names that we will be watching today:


SOFI has a 3/8/20 cross up with a TTM Squeeze and is finding buyers on pullbacks to the 16.50 area. I like this long off that spot for a move up to the mid to high $18s


XLE has been beat up off of the June highs but is setting up for a 3/8/20 cross back up with a TTM Squeeze on the daily. I like this off of the daily sma20 around 49.20 for a push up to $52 or higher


BGFV has a 3/8/20 cross up with a TTM Squeeze on the daily. I like this on a pullback to the 23.50 area for a push up to $27 or higher


CARV is for a day trade only, but I like the daily TTM Squeeze and 3/8/20 cross. If it gives a soft open I like this long on a red to green move


FULT has a 3/8/20 cross up with a TTM Squeeze and is consolidating nicely just below its sma50. I like this over $16 for a push up towards $18



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