Weekly Watch List January 13th

Happy Sunday!

I hope that everyone is having a relaxing and enjoyable weekend as we prepare for a new trading week ahead. It was quite a week for the SPY. We started with a gap down day that pushed up all day and finished with a gap up day that ended up as a bearish engulfing candle; however, the weekly candle is very nice. We are in a place where the market could easily continue grinding higher, but we may see a bit more of this choppy action as it does that. We could also certainly see a more meaningful pullback. What is important for me to watch is do the pullbacks keep getting bought at potential support like the ema8 and the sma20? It is very important for us as traders not to anticipate the pullback and go short the market expecting one. When a deeper pullback happens, we will see technical signals that will tell us something different is happening and can then act accordingly. For now, we continue to focus on shorter term setups and we are keeping risk smaller when we are near all time high resistance. Here are some names that we will be watching this week:

CVET has been consolidating along its sma20 and sma100 for a couple of moths now and looks ready to possibly push higher in a TTM Squeeze on the daily. We like this on a test and hold of the sma20 or on a push up through $14 for a move to $15 or higher with a large gap above

LB is in a long basing pattern and got some interesting call sweep activity last week. It showed some strength Friday in a weak market. We would be interested in a pullback and then move back up through $19 for entry or a move through last week's high of 19.69 for a test of $20 and possible push higher

SAGE is a beat up biotech with a huge gap above that is showing signs of reversing. It has a 3/8/20 cross with a TTM Squeeze on the daily and showed some relative strength on Friday. We like this on a pullback and hold of $75 with a move back up or on a break over last week's high of $79 for a push up higher into the large gap above

HCSG is in a nice reversal pattern with a TTM Squeeze on the daily and heavy short interest. We like this over $26 for a push up towards the sma200 in the mid $27s

HSY is setting up for a 3/8/20 cross on the daily in a TTM Squeeze and also has a nice flag on the weekly chart. We like thus over 148.41 for a test of $150 and possible move up to $153

CHRW is a name that is reversing in a TTM Squeeze on the daily. It also has 13% short interest and some room to resistance. Ideally we would like to see a back test and hold of of the 79.50 to $80 area and take a position for a move up towards the sma200 and the gap that starts around $82.50

I is a name that is very beat up on bad news and is starting to show some signs of recovery. It has a perfect hold of its sma20 on a back test last week and looks ready to push up towards its ema34. We like this on a move over $8 for a push up to the mid to high $8s

DDOG is consolidating around the $40 level with pops to $41 being met with resistance. Ultimately we think one of these tests leads to a big breakout as it has 29% short interest. Ideally we would look for entry on a back test and hold of $40 and hold for a test and possible break of the $41 level

ANGI is a name we had on watch last week as well. It made a number of small daily moves before giving a lot of it back on Friday in market weakness. Ideally we would like to see a wick down to the sma20 and pick up a position off of support for a test of last week's high and move into the gap above

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