Watch List August 3rd

Good Morning,

Yesterday we saw a market that gapped up, traded sideways, pulled hard on a Fed speaker, traded sideways again, and then pulled into the close. At the end of it all the SPY lost its daily ema8 and the VIX pushed up towards the critical $20 level. This morning we are pointing towards a pretty good gap up for the SPY and a gap down for the VIX. Overall we remain in an uptrend, but it is a choppy one as we have all time highs just above and the sma20 just below. In these conditions smaller position size is warranted. Here are some names that we will be watching today:

HNST is a recent IPO that i sin a nice TTM Squeeze as it is trying for a 3/8/20 cross up. I like this on a soft open that goes red to green for a push up to $16 or higher

KMX is in a large cup and handle formation with a TTM Squeeze on the daily. I like this on a pullback and hold of the 135.50 area for a push up to $140 or higher

UPST made a big push through an anchored vwap level yesterday, and I like this long on a back test and hold of that level around $128 for a push up to $140 or higher as this heads into earnings next Tuesday

10 views0 comments