Watch List January 12th

Good Morning,

We saw a bit of a pullback in the major indices yesterday, and this morning we are pointing towards a moderate gap up with the VIX easing a bit in the premarket after spiking yesterday. Overall we remain in an uptrend near all time high resistance. The path of least resistance remains up, but it is a time to be position sized properly for potentially uncomfortable pullbacks. Yesterday I took an overnight swing trade in REED, and I have trimmed up half of this already up nicely. This morning I will be looking for a move to the daily sma200 at .83 in the premarket or in the first 15 minutes of trading or I will move on from this trade. Here are a few names that we will be watching today:


URBN made a very strong move yesterday in a TTM Squeeze, and I am looking for continuation on a soft open that goes red to green for a push up to $32


FB I like short on a failed reclaim of the 260 level or even a pop to the daily ema8 that finds resistance with a target of the daily sma200 around 248


AXTA had a bullish engulfing candle yesterday in a TTM Squeeze. I like this on a soft open that goes red to green for a push up to $33 or higher


CWH is testing trendline resistance in a nice TTM Squeeze on the daily. I like this on a soft open that goes red to green for a push up to $33 or higher


GPS made a strong move yesterday in a TTM Squeeze on the daily and I like this on a soft open that goes red to green for a push up into the gap above












12 views0 comments