Watch List January 5th

Good Morning,

We saw a pretty good pullback in the major indices yesterday as markets were under pressure all morning and through the lunch hour before finally finding a little support in the afternoon for a push up to close around the sma20 for the SPY. This morning we are looking at a relatively flat open for all of the indices and the VIX. We could see some continued volatility into the GA Senate runoff elections tonight, and we may not know who the winners are tonight if both races are close again. It is also worth noting that the SPY and the VIX are both in a TTM Squeeze with momentum that is a little indecisive, but for the moment the SPY TTM is negative and the VIX TTM has flipped back to positive. Overall it remains a time to control risk through smaller position size. Here are a few names that we will be watching today:


ALT is setting up for a 3/8/20 cross in a TTM Squeeze. I liek this on a soft open that goes red to green for a push up to $15


WKHS is holding support in a pullback with a TTM Squeeze. I like this on a soft open that pulls back to the sma20 around 21.50 for a push up to recent highs in the high $24s


PLL is consolidating in a TTM Squeeze. I like 27.50 for a swing entry for a push up to $32 or higher but would also consider a day trade on a break over $29 with volume


LI is setting up for a 3/8/20 cross in a TTM Squeeze. I like this on a soft open that goes red to green for a push up to $35 or higher



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