Watch List March 4th

Good Morning,

The market continues to be choppy and a bit frustrating for many right now, and today we are looking at a moderate gap down as I type at 8:15 AM Eastern which could easily change with the jobless claims numbers at 8:30 AM. It is also important to note that Fed Chair Powell will be speaking today, and this market is already very nervous about rates and inflation. Every word and phrase that Powell uses will be analyzed in depth, and it will be interesting to see if he soothes or scares the market. Overall, we are seeing some pullback in the SPY, IWM, and DIA as well as a deeper pull in the QQQ which is getting closer to correction territory. It will be important to monitor if this pull turns into something more or if we are in a choppy consolidation phase. It will also be important to monitor if we see continued rotation out of the QQQ and into the get back out there trade and cyclicals. Here are a few names that we will be watching today:

UA I like on a pullback closer to a key anchored vwap level at 18.75 for a push up to tst $20 and possibly break higher

TCS I still like off of the sma20 around 15.75 for a push up to the mid to high $18s

MYOV I also still like on a pullback to the lower anchored vwap around 21.75

M is consolidating between the sma20 just below and vwap anchored to the January highs just above. I like this long off of that sma20 around 15.25 for a push up towards $20

BA is in a nice rounding pattern and fits the bill as far as a get back out there cyclical name. I like this on a pullback to the $223-225 area for a push up to $250

ACI made a big move up in January and pulled hard but has found support and is rounding back up. I like this on a pullback to vwap anchored to the January highs around 17.25 for a push up to $20

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