Watch List September 11th

Good Morning,

First things first. Lets all take a moment to reflect on the lives lost 19 years ago on this day.

Yesterday we saw the market gap up and then fade all day in a series of 5 min bear flags, and we have a potential bear flag on the SPY and QQQ daily charts now as well. The SPY has a 3/8/20 cross down currently, but it has very little space between the 8 and the 20, which is something that I will watch closely today and into next week. At this point I am approaching overnight holds to the long side with major caution and very small position size if I take one, and I am open to the possibility of some overnight short setups. The next couple days will be extremely important for the market to see if it will find support and turn back up or if we will see a continued short term downtrend. Heading into the weekend, I am likely to be very selective about putting any new overnight risk on, but I do have a small list of names that I am watching today:

FB gave us a great day trade short in chat yesterday, and I still like this short if it tests the anchored vwap level around 272.50 and fails

BYND I like over $145 for test of $150 and possible move higher if the market shows any strength

UAL I like if the airline sector gets any attention today and it moves over $37 with volume

HCAT is in a TTM Squeeze and just had a 3/8/20 cross up. I like this on a pullback and hold of the 33.50 area for a push up to recent highs around $37

PPC is in a TTM Squeeze with a very nice base of anchored volume by price in a nice reversal pattern. I like this from 16.50 to $17 for a push up to the next volume shelf in the mid $18s with a gap fill around $19

TPR is another name with a TTM Squeeze and a nice base of anchored volume. I like this over $16 for a push up to the sma200 in the mid $18s

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