Watch List June 4th

Good Morning,

All eyes this morning will be on the jobless claims numbers coming out at 8:30 AM Eastern. At the moment the major indices are down a bit in the premarket, but they are getting a bit of a bounce after the European Central Bank announced some new policy decisions. Yesterday the market continued to show strength and pulled away from the sma200 and continued to make new highs. We are getting very close to an area of major resistance around $314 which was the March high for the SPY. The VIX is relatively flat this morning, and I will be keeping a close eye on it to see if we get any further easing or a bounce. Yesterday I opened a starter position in AZN calls, and I will be looking to add to this. Stops will be on a close below a key anchored vwap level at 52.42 Here are some names that I will be watching today:

PTON had an inside day yesterday and looks ready to test the highs again. I like this over $48 for a test of the $50 level and possible break much higher

CHWY is another name that had an inside day yesterday at the high end of the previous days candle and looks ready for a break higher into earnings next week. I like this over 48.50 for a push up to test $50 and possibly break higher into earnings

SPCE gapped up Monday on excitement over the Space X launch and then had an offering and pulled back before getting a strong bounce off of the $15 level yesterday. I like this over the sma20 at 16.80 for a push back to the mid $18s

SPR is a key Boeing supplier who is getting a strong move up with the strength shown in BA yesterday. Ideally I would like to see this pull to the $25 to $26 area for a long entry

SDC was on watch a few days ago and unfortunately I just missed the entry that it gave which would have been perfect. I still like this on a pullback to the 8.25 area for a long entry for a move back up to the $10 area

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