Watch List December 16th

Good Morning,

Yesterday the market made a nice move up and we are now right back on all time high resistance. We are looking at a moderate gap up in all of the indices this morning amid talk that stimulus talks are looking promising. The VIX had an inside day yesterday and is being held below the $25 level and holding above the sma20 in a TTM Squeeze. Today we have the FOMC announcement at 2 PM Eastern and Fed Chair Powell's press conference at 2:30. No change in rates is expected, but this always has the potential to be a market moving event - especially the press conference. Overall it remains a market in an uptrend where some caution is warranted on all time high resistance. Here are some names that I will be watching today:


LRN is a beat up name that is setting up for a 3/8/20 cross up reversal in a TTM Squeeze. I like this on a soft open that goes red to green for a push up to the mid to high $25s


TCS has been consolidating around vwap anchored to the October high in a TTM Squeeze. I like this on a pullback to that vwap around $10 for a push up to the mid $11s or higher


GO is setting up for a reversal in a TTM Squeeze after selling off hard in November. I like this obe a soft open that goes red to green for a push up to the $41 area or higher


PLTR is in a tight pennant as it consolidates around vwap anchored to its all time highs. I like this over that vwap level at 26.80 or would also consider a test and hold of the bottom of the pennant around $26 for a low risk entry with a very tight stop


FUV made a big move in November and has retraced to the .618 Fib level and has just barely overshot its sma20 on the daily. I like this back over the sma20 at $13 for a push back up to $16 or higher








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