Watch List June 2nd

Good Morning,

Yesterday we saw a big gap up that got faded all day long leaving us with a bearish engulfing candle on the SPY with a decent pop in the VIX. This morning we are looking at a relatively flat open for all of the major indices as well as the VIX. Today and the rest of the week we will see a lot of economic numbers being released which are likely to move the market. We start this morning with the ADP Employment Report at 8:30 AM Eastern, and we will also have the Fed Beige Book at 2 Pm Eastern, which is likely to be watched much more closely than usual. Overall we could be in some for some choppy conditions the rest of this short week and some caution is warranted. Here are a few names that I will be watching today:


EYE is setting up for a 3/8/20 cross and is holding vwap from its May highs as support in a TTM Squeeze on the daily. I like this on a pullback to the $50 level for a push up to test the recent highs and possibly break higher


JMIA made a strong move yesterday taking out its sma50 and sma200. I like this on a soft open that goes red to green for a continuation much higher


MVIS filled a gap above last Friday and pulled and has no pushed back up with some room to the recent highs in a TTM Squeeze on the daily. I like this on a soft open that goes red to green for a push up to those recent highs


WB is a beat up former growth/momentum name that is putting in a decent reversal and is taking out vwap anchored to the February highs. I like this on a back test of that vwap level around 51.50 for a push up to $55 or higher


TSLA tried very hard to hold $625 yesterday and failed. I like this short on a failed attempt to reclaim that level for a push down to its sma20 around $613 and possibly even down to its sma200 around $600








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