Watch List October 27th

Good Morning,

We saw quite the slow, orderly pullback in the market yesterday after a pretty big gap down, before finally finding some support around the $336 area for the SPY and getting a little bit of recovery. This morning we are looking at a moderate gap up for the major indices as I type at 7:40 Eastern time, and it will be critical to see if the SPY can reclaim and hold its daily sma50 around $340 and whether it as any appetite to try to reclaim the sma20 a little above that. We will also be keeping a very close eye on the VIX today which spike yesterday and close above its sma200 which had been resistance for the last month or so. Overall it remains a very choppy and challenging market and hopefully things settle down after the election. Here are a few names that we will be watching today:

PTON I am watching for a short on a break of yesterday's low of day at 116.10 and would also consider going short on a test of $120 that fails

RAD showed huge relative strength in a weak tape yesterday, and I am interested in any pullbacks that this offers to go long

M pulled back with the market yesterday, and I still like this on any move over $7 for a push up towards the mid to high $8s

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