It looks like we are going to see another gap up in most of the major indices this morning, but we are also seeing the VIX up almost 2% in the premarket. It also worth noting that the QQQ is flat to slightly down in the premarket. I think some big spots to watch today will be SPY 320 to the downside and Friday's high of 321.27 to the upside. Keep in mind that we have the FOMC meeting starting tomorrow with the rate decision Wednesday at 2PM followed by a 2:30 press conference from Chairman Powell. Today I will mostly be focused on the names from the weekly watch list, but I will also be watching a few other names:
INSG is in a very nice TTM Squeeze on the daily, and I like it over the sma20 at 10.25 for a push up to the mid to high $11s
LULU is a name that i will be watching for a potential run into earnings on Thursday after the close. This looks like it may gap up quite a bit, so I will need to see how it digests the open to find a potential entry.
AAL had the biggest push up among the airlines, and is now looking a bit tired even as it gaps up with the rest of the sector this morning. If the market and the sector takes a rest soon, I am interested in AAL to the short side but would play it very small as the airlines have been extremely resilient