Watchlist for 1/23/15

The diamond/lower highs on the SPY chart had me very concerned lately, so I reduced exposure to any long biased positions. Now that we have broken the downtrend, it looks as if this bull market is not yet done. SPY was just doing its thing holding above the 200DMA. I think we will see the ATH of 210 again soon.  Sizing back into inverse volatility positions like XIV.

Watchlist

SBUX - The quarter and guidance were only in line, but surprisingly in AH this stood ground on new highs. Likely gaps up in the premarket, but I'd be careful at the open.

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ASPX - High volume drop; I think this has further to retrace. Today was one giant bear flag, hitting resistance at ~58.30. Worst case I think this climbs back to 60 before making a lower high and cracking.

LUV - Potential breakaway gap. Looking for an ABCD style setup with a stop at 44.

LOCO - It went thru 25, I think it can go further. Will wait for an intraday setup to get long.

SWKS - Nice AH action on the earnings beat, but the support at 75 is a little too far for comfort. Would trade an intraday setup if something like an ABCD shows up.

TASR - This thing just keeps grinding, squeezing higher. Worth having on the radar for long setups.

AGEN - looks like this is starting to fade. Eyeing a good entry to get short for low 4's.

 

DISH - I still really like this from yesterday's scan. Nice break higher could run to 80.