Watch List February 23rd

Good Morning,

The market continues to be under some pressure today as we are seeing a pretty orderly pullback in the SPY and some more intense selling pressure on the QQQ and many of the former high flying tech names and mega cap tech names. This is why we have been beating the drum on keeping position size small near all time highs. This morning we are seeing a gap down in the major indices and a gap up in the VIX, and certainly some caution is warranted until the market finds some support. We have lots of potential support nearby on the SPY in particular and it will be important to see if these levels hold on a test. I will be very patient this morning and likely not do much of anything other than very quick day trades until Fed Chair Powell testifies before Congress at 10 AM. Here are some names that I will be watching today, but I'm not likely to do much unless the SPY tests and holds potential support around $385


SDC showed some relative strength yesterday and had some news this morning and is showing relative strength in the premarket. I like this on a soft open that goes red to green


AAPL has been under major pressure along with all of the mega cap tech names, but it is coming down into a shelf of anchored volume by price around the $120 area. If this gets tested and holds, I think there is an attractive risk to reward on this one


KIRK is in a TTM Squeeze on the daily and showed some relative strength yesterday. I like this on a soft open that goes red to green for a push up to $30 or higher



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