Yesterday we saw a strong rebound for all of the major indices as well as some easing in the VIX after a tough week the previous week. The SPY was able to reclaim its sma50 as well as some key anchored vwap levels and looks ready to test its sma20 next, and the VIX lost its sma50 and closed just above its sma20. Today we have Fed Chair Powell speaking at 2 PM and this could certainly cause some volatility, but overall the market looks to be putting in a decent recovery after last week's volatility. Key things I will be watching today will be the sma20 on the SPY and the VIX particularly at the close. Here are some names that we will be watching today for day or swing trades:
AEO is consolidating nicely along its sma20 with a TTM Squeeze on the daily. I like this on a soft open that goes red to green for a push up to test the April highs around 38.50
BMBL is a newer issue that is putting in a nice reversal with lots of room up to vwap anchored to the IPO. I like this for a swing trade it it pulls back to the $51 area for a push up towards the $60 area. I also like it for a day trade on a soft open that goes red to green.
SPCE had some very nice accumulation yesterday afternoon and saw some unusual call sweeps. I like this on a pullback to 35.50 that finds buyers for a test of $36 and push up to $40
SYK is one of many established medical device manufacturers that are coming up in my scans lately. I like this on a pullback to the $257-258 region for a push up to the April highs
TREX is consolidating along its sma20 and vwap anchored to the May highs in a TTM Squeeze on the daily. I like this on a pullback and hold of that anchored vwao level around $99 for a push up to $110 or higher
TTD recently had a 3/8/20 cross up and is consolidating between its ema34 and sma50. I like this for a swing trade on a pullback to the ema34 or for a day trade on a break above the sma50