Watch List May 20th

Good Morning,

Yesterday we saw a strong gap down for the market and then a slow grind higher into the FOMC minutes followed by some chop that ended with a high of day close. This morning we have gone from pretty far down in the premarket to what is lookking like a flat open for the QQQ and a moderate gap down for the SPY. That could all change at 8:30 AM when jobless claims numbers are released. To close out the choppy action this week, we also have opex tomorrow so we can certainly expect some more chop into the end of the week. Overall I will be somewhat cautious and very selective on any new swings. Here are a couple names that I will be watching today:

GE has earnings out of the way and is consolidating nicely in a TTM Squeeze on the daily just below its sma20 and vwap anchored to the March highs. I like this long around $13 for a push up into the mid $14s or higher

RBLX is a relatively recent issue that has done a nice job of reclaiming vwap anchored to the IPO date. it is testing trend line resistance and has a nice TTM Squeeze. I like this on a pullback to the ema8 around 73.50 for a push up to test the trend line again and possibly break out to $80 or higher

SFIX is a beat up name that is setting up for a 3/8/20 cross with a TTM Squeeze. I like this on a pullback to $44 for a push up to the sma200 or higher as it heads into earnings on June 7th

XRX is in a nice longer term pennant formation with a TTM Squeeze. I like this on a test of the lower trend line of the pennant in the low $23s for a push up to the upper trend line around $24 and possible breakout much higher

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