Watch List July 21st

Good Morning,

Yesterday we saw the SPY make a move over some key resistance and make a new high of move off of the March lows. We are now into a gap above that goes back to February that would fill at 332.58 Overall the SPY chart looks bullish here, but there is a bit of concern over the advance/decline volume yesterday, which actually had many more declining names in the S&P vs advancing names. This tells us that for now the breadth of this bullish move is not very strong and that a few names (AMZN, MSFT, GOOGL, etc...) are lifting us higher. There is nothing alarming here, but it is something to keep an eye on going forward. It is also worth noting that the VIX continued to ease yesterday and is now under the $25 level, and hopefully this lower volatility may stick around for a while. Here are some names that I will be watching today:


AGNC is in a nice TTM Squeeze on the daily and has a strong shelf of anchored volume by price for a potential move higher. I like this over 13.50 for a push up to $15


APLS is in a TTM Squeeze and has reclaimed a key anchored vwap level. I like this over $34 for a push up towards $40


LAUR is in a TTM Squeeze with a nice shelf of anchored volume. I like this over $11 for a push up to test $12 and possibly break higher


SBUX saw some unusual call sweeps yesterday and had a 3/8/20 cross up in a TTM Squeeze. I like this over $76 for a push up to $84


PSTG is in a TTM Squeeze with a nice shelf of anchored volume by price. I like this over $18 for a push up to $20










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