Watch List January 20th

Good Morning,

We saw the SPY reclaim its daily ema 8 and it made a nice push up back towards all time highs. This morning we are pointing towards another gap up for the major indices with some easing for the VIX. Overall we remain in the same place with the market which is long biased but with small position size as we sit on all time high resistance. Yesterday I took an overnight swing trade in WWR which started out great with us being able to trim some with nice gains, but this pulled in after hours yesterday as the market saw an incredible number of secondary offerings from high flying stocks yesterday. My plan is to watch this in the premarket and see if we get some recovery as there was really no bad news for WWR. It is just reacting to how many offerings were announced after the close yesterday. Here are some names that we will be watching today:

ZNGA is consolidating on vwap anchored to the 12/22 high in a very tight TTM Squeeze on the daily. I like this over $10 for a push up to $11 or higher

FSR is building a nice base of anchored volume by price in a TTM Squeeze on the daily. It has some near overhead resistance, but I like the risk/reward here if I can pick it up in the 14.75 to 15 area for a push up to test a key anchored vwap at 16.50 and possibly break much higher

JMIA just had a 3/8/20 cross back up after a much needed pullback and also reclaimed vwap anchored to the December highs. I like this on a pullback to the 43 to 43 area for a test of those December highs and possible break much higher

PPC has a very nice TTM Squeeze on the daily and is setting up for a potential 3/8/20 cross back up with a very nice base of anchored volume by price. I like this over 19.50 for a push up to $22 or higher

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