Watch List June 9th

Good Morning,

Yesterday we had a day where all of the major indices were up, but we also saw the VIX green, which may have been telling us something. This morning, we are looking at a pretty big gap down for all of the major indices, which are definitely getting into extended territory, especially for the SPY and the QQQ. Today I will be very interested to see if we have any rotation trends. Do the airlines and cruise lines see their furious rally die, and do we see attention turn back to strength over value? I will also be keeping a very close eye on the VIX today to see if it shows any signs of a bigger bounce being in the works. Keep in mind that we have the FOMC meeting starting today and that the rate decision and press conference tomorrow has the potential to move the market. Here are a few names that I will be watching today:

KPTI has a PDUFA date on June 23rd so be aware that a decision could come early, but I like the chart over $19 for a test of $20 and possible push to $22

INSG I like on a soft open and red to green move for a move up to the high $11s It has a great looking TTM Squeeze on the daily

AVYA back tested its sma20 yesterday and buyers came in strong there. I like this on a soft open and red to green move for a push up to the $16 area

SAGE Is back in a TTM Squeeze and back over its sma20 and I like this name over $38 for a push up to $40 or higher

KR is in a nice TTM Squeeze and is consolidating between its sma50 and sma20. I like this one on a soft open and red to green move for a push up to the mid $34s

TGT is starting to consolidate nicely on its sma20 after a pullback a few weeks ago. I like this over 122.50 for a push up to $125 or higher

101 views0 comments