Watch List August 19th

Good Morning,

Yesterday we saw some selling pressure on all of the major indices and a big spike in the VIX. This morning it looks like we are getting more of the same, but that could change with the jobless claims numbers at 8:30 AM Eastern time. My plan is to be very patient at the open and see if the SPY finds support or not in the first hour of trading and look for some potential relief bounce trades. If the SPY tries to bounce in the first hour and fails I will likely focus on short setups. Here are a few names that I will be watching:


BMBL is consolidating nicely around its daily sma20 and vwap anchored to the start of the May selloff with a TTM Squeeze on the daily. I like this on a pullback and hold of the sma20 around 49.50 for a push up to $55 or higher


DLTR recently took out a key anchored vwap level and is in a nice reversal setup with a TTM Squeeze on the daily. I like this on a back test of that vwap level around $101 for a push up to the $107 area


FB is setting up for a 3/8/20 cross down and is losing its ema34 in the premarket. I like this short on a failed attempt to reclaim the ema34 around $354 for a move down to the $340 area


BLNK has a 3/8/20 down with a bearish looking TTM Squeeze on the daily and may form a bear flag here. I like this short on a failed attempt to reclaim the ema8 around $32 for a push down to $29 or lower


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