Watch List June 17th

Good Morning,

Yesterday we saw a big gap up in the market that came back quickly to fill the gap before moving back up and then slowly fading. It was a bit of a crazy day with the market and the VIX jumping all over the place. Today we have a more reasonable gap up, but we could be in for more of the same with Fed Chair Powell testifying to Congress again today. Overall, my stance on the market hasn't changed. I am not excited to the upside unless we negate the island reversal and I'm not looking for any big move down unless we see a 3/8/20 cross down. Until one of those happens, I think we see some more choppy action, and it will be important to find relative strength and look for quicker trades. Here are some names that I will be watching today:


LULU pulled back on earnings last week, but they reported on a day where the whole market pulled sharply. I like this on a soft open today and red to green move for a push up to the $320 to $325 area


AMD gapped up yesterday and faded, but it held a key trend line and looks ready to test higher. I like this over $55 for a push up to $58 or higher


AIMT is another name that gapped up and faded to fill its gap yesterday. I like this on a little more pull towards the sma20 for a long entry


FIVN pulled off of recent highs and is now regaining its sma20 and setting up for a 3/8/20 cross. I like this on a soft open and red to green move for a push up to $110 or higher


SAGE is in a bottom reversal pattern that is setting up for a bigger move up. I like this on a pullback and hold of the sma20 for a long entry


VIR is a virus related name that a huge move up in February and has been consolidating nicely now in the $32 to $37 range and building a nice base of anchored volume by price. I like this on a pullback and hold of the sma20 for a long entry



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