Watch List March 9th

Good Morning,

We certainly had an interesting start to the week, and it looks like things are going to stay pretty interesting today. Yesterday it was looking like we had a very nice recovery in 3 of the 4 major indices with the QQQ being the laggard, but we did see some late afternoon selling in the SPY that had what would have been a good looking daily candle all of the sudden look not so great. This morning we are seeing a big gap up in all of the indices, and it will be very important to be patient and let this gap up get digested before making any moves. We have been stressing keeping an open mind to all outcomes in our premarket chat each morning, and I simply cannot stress that enough. We are in a choppy market and way too many people out there are struggling to accept what price action is telling them. For now that price action is simply choppy and is pointing towards some rotation out of tech and into cyclicals, industrials, and get back out there names. Although many are really struggling to accept that, I believe that this could continue and if price action continues to confirm that I will trade accordingly. If price action tells us otherwise, I stand very ready to adjust quickly. Here are soem names that I will be watching today:


BBBY is a get back out there name that is holding a key anchored vwap level as support with lots of room up to another anchored vwap level above as a target. I like this on a soft open that goes red to green for a push up to $36 or higher


HOME is in a long consolidation along a key anchored vwap level and its sma20 in a nie TTM Squeeze on the daily. I like this on a pullback to the 25.50 to 26 area for a push up to 28.50 or higher


JWN is a get back out there name reclaiming a key anchored vwap level in a TTM Squeeze on the daily. I like this on a pullback to $37 for a push up to $40 or higher


KOSS is a bit of a risky name so if I take this I would trade it in VERY small position size. It has a great looking TTM Squeeze and could follow the once again irrational moves we are seeing in GME. I like the $19 area for entry for a push up to $22 and possibly much higher


M is another get back out there name reclaiming a key anchored vwap level. I like this on a flat or soft open that goes red to green for a push up to $19 or higher


NCR is a boring lower ATR name that is consolidating nicely in a TTM Squeeze along its sma20 and vwap anchored to the January highs. I like this on a pullback to the $36 area for a push up to $40 or higher


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