Yesterday we saw another low volume bounce for the SPY and a pop and then a fade in the VIX giving us a bit of mixed message. Overnight the futures were comfortably green before reversing and now pointing to a moderate gap down open this morning. Overall the market remains in a tricky place where we could easily test lower, but we could also see some strong bounces at any time. Overall we are staying small in position size and light in overall risk. Here are a few names that we will be watching today:
AAXN is still interesting here with all the civil unrest we are seeing right now. II like this over $86 for a push up into the low $90s
NVAX got some news last night with a new Covid trial starting in the UK and I like this if it can make a sustained push through the $110 area for a push up to $120 or higher
Depending on the strength or weakness of the market I am also stil interested in big tech names like AAPL, FB, ZM, and MSFT for short setups if the market and any of these names find strong resistance.