Watch List July 20th

Good Morning,

Yesterday we saw continued selling pressure in all of the major indices and a meaningful spike in the VIX. For the first time in almost a year we saw the VIX break the pattern of lower highs and it finally made a higher high. This morning we are looking at a gap up for the SPY and a gap down for the VIX, and I will be watching closely to see if this leads to a reversal. It is very possible that we see the SPY form a bear flag on the daily and that is something we want to watch closely to see if it plays out or if the pattern gets disrupted. Here are some names that I will be watching today:

PTON showed a ton of relative strength yesterday and came up through its ema8 and into its sma20 and sma200. It also has a beautiful TTM squeeze on the 15 minute chart. I like this on a soft open that goes red to green for a push up to $125 or higher

TTD has multi time frame TTM Squeezes setting up on the 5, 15, and 30 minute time frames. O like this on a soft open that goes red to green for a test of its daily sma200 and possible push up to $75 or higher

NVDA I will be watching for day trade opportunities after their 4 for1 split goes into effect this morning

AAPL I still like short on a failed attempt to reclaim the ema8 just below $145 for a move down to $140 or lower

OLLI is setting up in an inverse head and shoulders with a TTM Squeeze on the daily. I like this on a pullback to its sma200 around 88.50 for a move up to $95 or higher

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