Watch List September 3rd

Good Morning,

The market just continued on to new all time highs yesterday...again. As we have been saying for a while here the trend remains clearly up. At the same time we saw the VIX rise yesterday, which actually gave us the highest VIX reading in history for a market at all time highs. The yellow flags are still everywhere and have us long biased but very cautious at this point. Today we have a lot of economic numbers coming our way, starting with the jobless claims numbers at 8:30 AM Eastern and then PMI and ISM services numbers in the first 30 minutes of the trading session. Last but not least we are heading into a long weekend and the unofficial end of summer with very light volume trading this week. Overall, I will be looking for some trades today, but I will be very selective about entering any new swing positions ahead of the long weekend. here are some names that I will be watching:

SDC made a strong move on volume yesterday and broke some major resistance at the $10 level. I like this on a back test and hold of that level for a move up to $12 or higher

COOP from yesterday's watch list still looks interesting here either on a pullback and hold of $19 for a swing trade or a break over $20 for a day trade

ON from yesterday's watch list I still like if I can get an entry close to $22 for a push up to $24 or higher

ADI made a nice push up off of an anchored vwap level and has a TTM Squeeze on the daily, I like this on a soft open and red to green move for a push up to the $130 area

CTSH I like on a pullback to $68 for long entry for a trade up to the $75 area

MAT has a nice looking TTM Squeeze and just had a clean bounce off of a key anchored vwap level. I like this over 11.50 for a push up to the $13 area

UAL is showing some relative strength to the other airlines and is trying to build a base around vwap anchored to the June highs. I like this over $37 for a push up to $40 or higher

BMRN is beat up on bad news but reminds me a lot of INTC last week. I like this for a starter swing trade on a move over $78 and with room up to the $85 area

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