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Weekly Watch List December 9th

Happy Sunday,

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Now on to business. The market made a strong move up on better than expected jobs numbers on Friday morning, and so far just continues to show strength and give very little in the way of any sustained pullback that doesn't get bought up. We still have the the threat of trade news at any moment and need to be concerned about that as it can move the market in either direction, and we also need to be concerned about a number of gaps below. Overall the market is in a tricky spot where you can't ignore the strength, but it is tough to get aggressively long for anything other than very short time frame trades. This week we will be watching all time highs, the ema8, and sma20 on the SPY to see how it deals with those areas for some clues to short term direction, and we will also be monitoring the VIX closely. Here are some names that we will be watching all week:


IMMU is a name in the biotech sector, which has been a very strong sector lately. It recently retested its sma20 on volume and made a nice move up off of it on Friday. Ideally we like this on a retest of the $20 level and move up off of that to the mid $21s



W is a beat up name that looks ready for a bounce in a TTM Squeeze on the daily. We like this over 85.20 for a move up towards the ema34 around $90


REAL is a relatively recent issue that is in a TTM the daily and is showing signs of a reversal. Ideally we like this on a pullback and hold of the sma20 around 17.25 but would also be interested on a breakout over 17.66 for a test of the ema34 and possible push higher



FNKO is a very nice looking reversal setup that just gave a 3/8/20 cross in a TTM Squeeze. We like this for continuation over 15.15 for a test of the ema34 at 15.59 and possible push higher



LK has shows a ton of strength since its lockup expiration and took a bit of a rest last week. We like this on a move back over 30.30 for a test of $31 and possible move back to recent highs



ADM made a nice move off its sma20 on high volume in a TTM Squeeze on Friday. We like this over $44 for a move up to $45 or higher



CDNA is another reversal setup in a TTM Squeeze on the daily. We like this either on a pullback and then move back up through $21 or a breakout over the 21.50 level for a push up to the mid $22s or higher



SQ is a name that has been in a long rounding pattern that has its sma20 coming up towards it sma200. We like this on a pullback and then move back up through $67 or a breakout over the sma200 around 68.60 for a test of $70 and possible move higher



MCD has been under a lot of pressure and may not be fully ready to reverse, but it definitely looks ready for a decent relief bounce. We like this over 195.75 for a test of the ema34 around 196.50 and possible move up to $198 or higher