Watch List August 19th

Good Morning,

Yesterday we saw another doji candle from the SPY as we just barely made a new all time high and then closed pretty much where we opened for the 2nd day in a row. The VIX once again tested its daily ema8 and failed to hold it. Today we have the FOMC minutes being released at 2 PM, which shouldn't have any major surprises, but the market always seems to have a reaction to the minutes. Don't forget that on most FOMC releases we see a reaction, a counter reaction, and then an eventual direction. Don't chase those early moves, which are all algos reacting to words and phrases in the minutes.

We got a very nice trim in FB yesterday and I'm still holding a good portion of this for a move higher. ultimately I think a strong move over $265 will really get this name going. Here are some names that I will be watching today:

BZH is in the home builder sector which has been strong, and it is looking to pull up and away from its sma200 in a TTM Squeeze. I like this on a pullback and hold of $12 for a push up to $14 or higher

SAVE off of our weekly watch list pulled back to and held the sma20. If the airlines show any strength today, I like this on a 17.50 break for a push up to test $20 ad possibly go much higher

EXPE is coiling in a nice TTM Squeeze just below its sma200. I like this over $89 for a push up towards $100

WHKS saw some nice volume expansion yesterday as it tested a key anchored vwap level at 17.21 I like this over that level for a push up to test $20 and possibly break higher

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