Watch List September 16th

Good Morning,

The market continues to be in a very tricky spot here. We are at the high end of a short term channel for the SPY between 332 and 342.50 and its tough to get short or long much of anything until we see a further break down or a move up out of the sideways channel which is potentially a bear flag. The VIX has eased some, but is trying to hold thee sma20 on the daily, and the VXN which is the VIX of the Nasdaq put in a hammer candle in a pullback yesterday and looks like it may want to bounce. Now add to that the FOMC rate decision at 2 PM and the Jay Powell presser at 2:30 and we have some very choppy waters to navigate today as we have all week. For those in our swing trade only service, apologies that we have been rather quiet with any new entries, but we are extremely selective right now in a week where we have FOMC today and opex and SPY rebalancing on Friday. Here are a few names that we will be watching today along with the weekly watch list names:

SAVE I like on a soft open and red to green move for a test of 19 and possible break much higher

ADVM I like on a break of $13 for a push up to the mid $14s

MLCO I like on a pullback and hold of the key anchored vwap level it moved over yesterday at 19.40 for a push up to the $22 area

HDS has a nice TTM Squeeze and is flagging since earning and is trying to take out a key anchored vwap level at 40.80 I like this over $41 for a push up to test $43 and a move to $45 or higher

MAT is consolidating nicely around its sma200 in a TTM Squeeze. I like this over 11.10 for a push up to test $12 and possibly break higher

KPTI is setting up a nice 3/8/20 cross in TTM Squeeze with a huge shelf of anchored volume by price. The sma50 is a concern at 16.30 but I like it over that level for a move up to the mid $18s

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