Live Charts

When reviewing this watch list in retrospect, please be alerted that the charts herein are live and do not represent the state they had when we initially posted this watch list.

Review

What a day! Even though in most cases we didn’t get our preferred gaps due to the market’s overall weakness in today’s pre-market trading, we had lots of momentum all day long due to the market’s continued weakness. Consequently, lots of setups from yesterday’s watch list such as NVDA, MGM and DDD worked out nevertheless. Furthermore, after retesting the 52 week high, JACK had a nice unwind alongside the market. On top of these tickers, with the market’s weakness BAC and UVXY were on fire, providing tremendous opportunities.

Even better, today’s weakness resulted in lots of setups for the coming days. Let’s look at the most promising ones for tomorrow…

BAC

BAC

Amazing fade alongside SPY and finally awake after lots of slow days. After today’s action, we’d like to see the $22.25 area act as support after a gap down and a subsequent relief bounce to join long.

UVXY

UVXY

With this kind of momentum, we’ll surely have an ETF bound to the S&P500 on watch. After today’s action we’ll be on the look out for a short trend to join on UVXY but are also not hesitant to join a long trend in case SPY continues to fade. To avoid borrow fees, you can also simply join XIV long instead of UVXY short.

NVDA

NVDA

Not overly interested in joining NVDA’s morning action as it could fade more below the $128.00 level but could also put in a relief bounce alongside SPY. But as the momentum is astonishing in recent days, I’m willing to join a clear trend once established.

AEO

AEO

With the market’s distress, AEO unwinded below the $13.00 price level. As it has already put in five consecutive red days and had lots of momentum today, we’ll be looking for a gap down and washout followed by a relief bounce.

RRGB

RRGB

Closed rather strong while the entire market closed extremely weak. It appears that buyers see a lot more upside in it. Hence, looking to join a long trend tomorrow morning.

CSCO

CSCO

Huge gap down in today’s after-market trading all the way down to over/under $31.00. Will be examining tomorrow’s pre-market action to join a possible unwind.

TSLA

TSLA

Usually, huge red days are followed by a relief bounce on TSLA. Hence, looking for a gap down and red to green move to join.

CL

CL

CL is one of the charts that simply did not care about the market’s fade and confidently broke out over the $75.00 price level. Of course, it acted on a catalyst: The CEO announced he is open to sell the company for $100/share. With this $100.00 magnet in the minds of the audience, we’ll be looking for a follow-through on today’s breakout.

  • Mark

    Love it guys keep it up!