SPDR S&P 500 ETF (SPY)
We want to start things off today by looking to take advantage of the big rebound in the markets yesterday. When we want to play the markets as a whole, we generally look to the SPY options chain, and that’s what we’re going to do today as well.
We are seeing a significant gap up this morning, and are going to be looking for a classic dip-and-rip scenario due to profit taking. Our targets are going to be the SPY Weekly $264-266 Calls provided that support can hold above this morning’s premarket low of 263.56 on any pullbacks in order to remain interested.
CHF Solutions Inc. CHFS
We also want to highlight CHFS this morning as a possible bottom play. The stock is gapping up in the premarket past its 50DMA, and there is a massive gap on the chart to the upside from just under $5 to just under $8.
We’re going to put CHFS, which prior to today had already been approaching heavily oversold territory, on watch over the next few sessions for the possibility of a more sustained rebound.
Cronos Group, Inc. CRON
We’re getting a strong bottom bouncer signal from CRON as well this morning, and we wanted to highlight this chart also.
CRON is currently exhibiting most of the things we look for in a bottom play, and we’re excited to see where it could go in the near term, as it looks like there could be some serious upside here.
Extended Watchlist:
FNSR, INNT, SPOT, TOPS, FNJN, GMS, NETI, AYTU