Watch List May 1st

Good Morning,

We get a fresh start to a new month today, and the market is starting it off with a pretty sharp pullback. This is not necessarily a bad thing, and what will be important is to watch for areas of potential support. Some spot I will be watching include a key anchored vwap level for the SPY around 284.50 and then the sma20 around 280. I will be watching carefully this morning to see if any of these spots offer up some support. I will also keep a very close eye on the VIX again today, and especially watch to see how it acts if it goes up to test its sma20 on the daily. I don't want to chase short entries on this big gap down open, so I will be mostly watching to see if the market finds support and gives me an entry long on any of the following:

DAL may pullback to a key anchored vwap level at 24.70 and I like it on a hold of this level or even a push slightly below to the sma20 and then a push back up through

PTON I like long on a red to green move after a soft open for a test of yesterday's high and possible push higher

CGC I like on a test of its sma20 and then a move back up through a key anchored vwap level at 16.03

FEYE is a name that had a lot of call sweeps yesterday and is building a nice base of anchored volume by price. I like this on a soft open and then push back up through the ema34 at 11.23 for a test of yesterday's highs

EBAY gapped down on earnings yesterdays and recovered the whole gap and closed at highs. I like this today on a soft open and then a red to green move

BA is another name that I like on a soft open and then a red to green move for push up to test an anchored vwap level at 145.25 and then possibly a second anchored vwap level at $153