Watch List July 14th

Good Morning,

Yesterday we saw the market initially make new all time highs before a pretty good pullback in the afternoon. This morning we are pointing towards a flat to moderate gap up for the SPY and a decent gap up for the QQQ with the VIX slightly down in the premarket. We have some important things on the economic calendar this morning with PPI numbers at 8:30 AM Eastern, a speech from Fed Chair Powell at noon, and the Fed Beige Book at 2 PM, all of which could move the market. In running my scans this morning for the watch list I am seeing very little in the way of A+ setups and frankly seeing a lot of broken charts that were looking good into yesterday but were left with big upper wicks and TTM Squeezes that released. I have just a small list for today and hopefully we see some of these charts reset in the coming days:


FISV has a 3/8/20 cross with a TTM Squeeze on the daily as it heads into earnings on July 27th. I like this on a soft open that goes red to green for a push up to 112.50 or higher


VRM is in a tight coil and is finding support at vwap anchored to the March lows. I like this off of that vwap level around $40 for a push up to $44 or higher



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