An Oasis in a Big Forest

It is easy to lose track of the individual stocks holding up very well into this market pullback, given the news flow and volatility spike. 

But in the event that once the Fed and Brexit news is behind us the market resumes higher this summer, I suspect names like Zendesk, which we have noted previously, will continue to outperform.

ZEN, like other software plays, could easily be a buyout target. But beyond that prospect, the daily chart, updated below, shows no damage of which to speak despite the VIX waking up from the dead and screaming above 20 this week. 

The ZEN volume pattern is also what bulls would like to see. And, simply put, we have this on constant watch inside Market Chess Subscription Services as an actionable long idea after the Fed tomorrow if a move near recent highs begins to materialize. 

Another overlooked gem of late has been the progress natural gas has been making at the outset of this hurricane season, which understandably has taken a backseat to other news. Still, if natty hangs in there after Thursday's inventory report I would be looking for a fresh long entry there, too. 

On the short side, we have a running list of names, too, though mindful a bunch of them like banks have already sold off hard into the Fed.