Watch List May 22nd

Good Morning,

Yesterday the SPY tried again early to break up towards its sma200 and failed before fading and then chopping sideways all afternoon. This morning we are setting up for a gap down that appears to be related to Asian markets getting shaken by China's tough talk on Honk Kong overnight. We are also seeing the VIX up a bit in the premarket, and it will be important to see if this wants to hold over 30 and take another run at its sma20. As a reminder to all, we are heading into a 3 day weekend with the market closed on Monday, and I will likely not be very aggressive about entering any new swing positions. Yesterday Justin was able to book some nice profits on a portion of his VSTM position, and I took a new position in GOLD, which is looking very good so far in the premarket this morning. Here are some names that I will be watching today:

CHWY I still like long on a pullback and hold of a key anchored vwap level at $38 for a push up to the sma20 around 41.50

SEIC is forming a nice ascending triangle in a TTM Squeeze. I like this on a pullback and hold of the lower trend line of the triangle right around the $50 level for a push up to the upper trend line arounf $53 and a potential breakout

CONE is a name I like short on a test of the sma20 above that fails for a push down to the sma200 around $67

DLTR has a very nice TTM Squeeze heading into earnings next Thursday. I like this long on a pullback and hold of the $79 level for a push up to test resistance at 81.50 and possibly break up to the $85 area or higher

HALO is a biotech stock that is in a tight pennant potentially setting up for a breakout. I like this on a pullback and hold of the sma20 near the lower trend line for a test of the upper trend line and possible breakout to $26 or higher

SAGE is in a nice pattern that I refer to as a moving average stack where the sma50 is below the sma100 , which is below the sma200, and when the sma50 gets reclaimed it often leads to a nice reversal up to the higher sma's. It is also holding a key anchored vwap level. I like this name long on a test and hold of the anchored vwap level around 35.75 for a push up towards recent highs around $42 and possibly up to the sma100

WERN is in the beat up transport sector, but it is showing decent strength as it rides up a trend line. I like this on a pullback to a key anchored vwap level around $42 for a push up to recent highs around $45 and a possible breakout

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