Watch List May 13th

Good Morning,

Yesterday the selling pressure continued on the major indices and we saw quite the spike in the VIX. This morning we are seeing a decent gap up in all of the major indices and a gap down in the VIX. I will not be in a big hurry to take new trades until the open really settles in, and I am keeping an open mind on whether the SPY just had a pullback in an uptrend or if we will see more of a reversal and continued move down. Here are a few names that I will be watching today:

GOGO and NKLA I am still watching from yesterday's watch list

TSLA I will be watching for a potential short if the QQQ and SPY find resistance and TSLA breaks the $600 level I will look for a move down to the sma200 on the daily

XLE is another name from yesterday that I will still be looking for an entry if this cup and handle continues to play out

FSLY it's probably still early but if the market finds support and this can put in a yellow TTM bar on the daily I like the risk/reward for a move up into the gap above

FB I will watch for a potential short if it tests and fails to reclaim its daily sma20 and the market shows any signs of continued weakness

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