Watch List December 3rd

Good Morning,

Yesterday we saw a gap down in the SPY that tested and held that key 364.38 spot and then reversed nicely to give us a constructive daily candle and overall chart. We are still in a spot where we could see a big move up or a sharp correction, so although I remain long biased here, I am keeping position size and overall risk small. This morning we are looking at a relatively flat open, but that could change easily with the jobless claims numbers at 8:30 AM Eastern time. We also have some economic numbers coming in the first 30 minutes of trading with the PMI and ISM Services numbers. Here are a few names that I will be watching today:


BMRN is in a long TTM Squeeze and consolidation with a huge gap above. I like this on a pullback to the 78.50 area for a swing entry for a move up into the gap


INOV sold off hard in late October and is setting up for a reversal in a TTM Squeeze. I like this on a reclaim of the sma20 at 19.05 for a push up to test $20 and possibly head higher


FUTU ran to highs in late October/early November and has now pulled back to and held its sma20 and a key anchored vwap levels and it has a TTM Squeeze on the 30 and 65 min charts. I like this long from 43 to 43.50 for a push up to the recent highs


EXAS was an earnings winner in late October that is now reclaiming vwap anchored to the earnings high. I like this on a retest of that vwap around $123 for a push up to the earnings highs


PFSI had a recent 3/8/20 cross and is now taking out its sma50 in a TTM Squeeze as its building a nice shelf of anchored volume by price. I like this on a pullback and hold of that volume shelf around the $59 level for a push back up to $67



12 views0 comments