Watch List May 18th

Good Morning,

Yesterday we saw a pullback and an inside day for most of the major indices and a bit of a pop in the VIX. This morning we are seeing a flat to slightly up open for both the SPY and the VIX, and it will be important to see how this gets digested in the first hour of trading. Right now the QQQ is still looking bearish to me and the SPY is looking a bit better but TTM is potentially in a bearish squeeze here. Overall some caution is still warranted, and I will continue to look for pockets of relative strength for any longs and relative weakness for any shorts. Here are a few names that I will be watching today:


AAL is taking out some key anchored vwap levels in a TTM Squeeze on the daily. I like this on a back test of vwap anchored to the March highs around 22.60 for a push up to $25 or higher


CENX is consolidating around vwap anchored to its March high and its sma20 in a TTM Squeeze on the daily. I like this on a soft open that goes red to green for a push up to $18 or higher


HA is setting up for a 3/8/20 cross with a TTM Squeeze on the daily. I like this over $25 for a push up to $28 or higher


SFIX is a beat up growth/momentum name that is setting up for a 3/8/20 reversal with a TTM Squeeze on the daily. I like this on a back test of its sma20 around $43 for a push up to $48 or higher


URBN is reclaiming its sma20 and vwap anchored to the March highs. I like this on a back test of those levels for a push up to $42 or higher


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