Watch List May 25th

Good Morning,

Yesterday we saw a move up in all of the major indices with the SPY and the QQQ both reclaiming their sma20 on the daily. This morning we are pointing towards a moderate gap up for the major indices and a flat open for the VIX. It will be important to see if the SPY can see its ema8 cross up the sma20 this morning which would be bullish in the short term. Overall I remain long biased with some caution that I will continue to exercise through smaller position size. Here are a few names that I will be watching:

SM is in a long consolidation in a TTM Squeeze and is poised for a big move. I like this on a pullback to the sma20 for a push up to $20 or higher

DAL has reclaimed its sma20 and held it on a back test. I'd like an entry close to the sma20 around 45.65 for a push up to $50 or higher

JBLU is another airline that is consolidating nicely in a TTM Squeeze with some room to the recent highs. I like this from 19.80 to about 20.10 for a push up to $22 or higher

WYNN is in a nice rounding pattern off of the March highs and is consolidating around vwap anchored to that high in a TTM Squeeze. I like this off of that anchored vwap level around 128.50 for a push up to $137 or higher

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