Watch List August 4th

Good Morning,

Yesterday we saw the SPY and the QQQ both pullback to their sma20 or very close to it and find buyers and push up to form some nice hammer candles on the daily. We also saw the VIX rejected in an attempt to take out the $20 level. Overall this bodes well for a continued uptrend, but it also has us right back on all time high resistance. This morning we have the ADP Employment report at 8:15 AM Eastern and the PMI and ISM Services numbers at 9:45 and 10 AM Eastern. All of these have the potential to move the market, but for now we are pointing towards a flat open. Here are some names that we will be watching today:


SQ put in a nice inside day yesterday after their big earnings gap and go day. I like this on a soft open that goes red to green for a push up to $280 or higher


HOPE is setting up for a 3/8/20 cross up with a TTM Squeeze on the daily. I like this on a pullback to its sma20 at 13.30 for a push up to $15 or higher


TSCO gapped down on earnings, filled the gap, and then pulled before starting to round back up. It has a nice TTM Squeeze om the daily and is over vwap anchored to the May highs. I like this on a soft open that goes red to green for a push up in to the high $190s


KRE is setting up for a 3/8/20 cross up with a TTM Squeeze on the daily. I like this on a soft open that goes red to green for a push up to $68 or higher

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