Watch List July 22nd

Good Morning,

Yesterday we saw some forward progress as well as some rotation in the market. Most of the major indices were green and the SPY confirmed a breakout and moved into a gap above; however, the QQQ was red yesterday as we saw some money rotate out of the high flying big tech names. This morning the QQQ is green while the other indices are flat to slightly red. The market remains in a bit of a tricky place where we could break much higher or see a failed breakout. We will continue to take shots in small size until if and when we see a retest of the breakout level for the SPY. Here are some names that I will be watching today:

SBUX I liked yesterday, and I like it even more today for a run into earnings next week. It loks like it will give a soft open which would be perfect. I like this over 75.35 up to about 75.75 for a run up to the $82 area

TUP is a name from our weekly watch a few weeks ago that has come to a key breakout area now. I like this over $8 for a push to $10 or higher

CAKE from this week's weekly watch list had pulled a bit and I see an entry now on a red to green move or would pay up to $23 for entry for a move up to test $25 and possibly break much higher

CODX made a big move on heavy volume yesterday. I like this on a soft open and red to green move for a push up to $25 or higher

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