Watch List May 5th

Good Morning,

Yesterday we saw the major indices go from red to green in the afternoon after trading sideways most of the day, and this morning we are seeing some follow through with a gap up in the indices. We also saw the VIX test its sma20 yesterday and for now that held as resistance. This morning the SPY is back up over a key anchored vwap level around 284.50, and it will be important to see if that holds. If it does, the SPY may want to go back up to test the Fib cluster zone around 290 to 292 and if it doesn't, we may see another test of the sma20 below. As usual I will keep an open mind and be ready in either case. Here are some names that I will be watching today:

TWOU is in a nice ascending triangle and starting a TTM Squeeze. Ideally I'd like to see this pullback to the bottom of the triangle and get an entry in the 23 to 24 area for a move up to the top of the triangle at 25.50 and a possible breakout higher

AMD just barely had a 3/8/20 cross down yesterday even though it had a nice green day. I would be interested in a potential short here if this tests its sma20 around 53.50 and gets rejected. I'm keeping an open mind long if it takes out the sma20.

BJ is a name that looks a lot like CLX did a few weeks ago as it builds a builds a base of volume around the $26 level. I like this on a pullback and hold of anchored vwap just below that $26 level for a move back up to the recent highs around 28 and possibly higher

FB is a name that I like long on a move over Friday's high of 207.28 for a test of the earnings day high of 209.69 and possible push higher

TER broke a key anchored vwap level yesterday and had a 3/8/20 cross down. I like this short on a retest and rejection of that anchored vwap level around $59

GNTX back tested and held its sma20 yesterday and regained its sma50. I like this on a soft open and a red to green move for a test of recent highs around 25.25 and possible push higher

GOOS is another name that tested and held its sma20 yesterday. I like this on a retest and hold of that sma20 around $22 for a push back up to recent highs around 25.50 and would also consider a strong breakout over yesterday's high for an entry

HAS is a name I like short after a 3/8/20 cross down in a TTM Squeeze yesterday. Ideally this tries to go green today and finds resistance for a nice short entry

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