Watch List May 26th

Good Morning,

The market is setting up for a huge gap up this morning just like we saw to start last week. What will be very interesting to see is how the SPY handles this 300 level and the daily sma200 where it is most like going to open. It is also interesting to note that the VIX is relatively flat this morning, and I want to see if that changes at all after the open. For swing trading unfortunately these gap ups price us out of our desired entries, and make it very hard to get any good risk to reward entry. Today I will just be watching the weekly watch list names for swing trades and likely will be focusing on day trades. I can't stress enough that we do not want to chase entries in a market that is gapping up almost 2%, and we need to be patient here with the SPY at a major resistance level to see if it can take out this level or not. I will be watching a few additional names for potential short or long setups depending on the market action which include AAPL, BA, PTON, and WORK.

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