Watchlist for 1/22/15

January 22, 2015

I'm seeing a lot of bullish setups now across the board. A lot of double bottoms and inverted H&S. However, we are in an aging bull market and the indices are hinting at the possibility of a more significant drop in the market. I'll feel more bullish if the SPY can break its downtrend line. Volatility, though still elevated and trending up seems to be cooling off. Tomorrow could be telling. I'm cautious because this market is either going to have a big breakdown or rocket higher very soon.

Watchlist - Mix of Things I'm Watching for Intraday and Swing Trading

NSP - Activist starboard Value fund involved. Possible breakaway gap. Would use 40.77 as a risk.

WATT - Risk on 8.25. This will be a slow grind up, but a lot to like about this chart for a swing trade. Targeting 12 on this.


TR - The CEO has moved on and the stock is moving up. Looking for ABCD, r/g setup. Blue skies.

EBAY - Nice rips AH. Should be a good day trader tomorrow - looking for possible moves to 57.50 or above.

NXPI - Another similar swing trade setup. Similar to WATT in that its in the phase of retesting the breakout area.

DISH - Potential triangle breakout on the daily.

S - Potential beneficiary of Google's new plan to roll out wireless service. Popping on the news.

JUNO - Only interested in a breakdown of 45 for possible drop to 40.

UAL - Earnings report tomorrow morning, and it's already in friendly, blue skies.

SNDK - Negative reaction to the earnings guidance. Don't be surprised if this is an overreaction and it does an ABCD bottom.