Watch List July 28th

Good Morning,

Yesterday the SPY traded right up to a key resistance area around 323.50 and stalled a bit there. This morning we are seeing a modest gap down, and it will be very important to see if this dip gets bought this morning. The VIX is slightly up this morning, but is well under that key sma200 level that appears to be acting as resistance now after previously being support. I will be patient at the open to see how this modest gap down gets digested. It is also important to note that the FOMC meeting starts today, and tomorrow we will see a rate decision and press conference from Fed Chairman Powell. It is highly unlikely that we see any rate change, but Wall Street will be watching the press conference very closely and it has the potential to move the market a bit. Here are some names that I will be watching today:


ROKU is in a nice flag pattern and building a base of anchored volume by price in the $150 to $153 region. I like this on a test and hold of $150 for a push up to recent highs in the $165 area


NKLA is a beat up name that seems to have found some support in the low $30s and is giving us a yellow momentum bar on the TTM. I like this over $34 for a push up to $38 or higher


DISH is in a nice TTM Squeeze and is building a nice base of anchored volume by price. I like this on a move over $34 for a push up to the $38 area


CSCO is in a TTM Squeeze with a nice gap above. I like this on a soft open and red to green move for a push up to fill the gap in the $49s


TRIP is in a nice TTM Squeeze heading into its earnings report next week. I like this on a soft open and red to green move for a push up to $23 or higher

















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