Watch List October 16th

Good Morning,

Yesterday we saw a rise in volatility and a pullback on the market with a pretty bug gap down open, but the good news is we started at the lows and pushed higher all day long for a near high of day close and a pretty healthy looking daily candle. The SPY chart now just about backtested the neckline of the inverse head and shoulders pattern and looks like it may want to push back up to recent highs. We still have some work to do, but overall the chart patterns on the major indices continues to look constructive for long biased traders. Today we have opex, so we could be in for some wild and choppy action especially in the large cap space. Here are a few names that I will be watching today:

CELH dipped just below its sma20 and a key anchored vwap level in this recent market pullback, and I like it over 21.60 for a push back up to $24 or higher

BLNK also pulled back a bit below its sma20 and anchored vwap level in this recent market pullback and I like it over $10 for a push back up to the mid $11s

TUP is setting up for a 3/8/20 cross and has some room up if it can take out the $23 level. I like this over $23 for a push up to the $27 area

RRGB is in the restaurant sector which for some reason was moving up nicely yesterday. I like this on a soft open that goes red to green for a push up to the sma200 in the high $15s

PLAY is another restaurant name in a TTM Squeeze with a 3/8/20 cross setting up. I like this over yesterday's highs for a push up to $18 or higher

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