The advance decline line is falling off a bit here. SPY made new highs intra-day, and NYAD failed to confirm.
Micron has nearly double off of the November lows. The momentum has cracked and prices look lower. What really has our interest is the closed gap. We want to be short any strength here.
UA looked oh so promising to start the day. However, at the end of the it had given up the 200D simple moving average. Which way will it go? Odds favor downside, but it's not a given if RS breaks out of the range.
SMH is worthy of a Charles Barkley Turrable! Distribution has picked up and the price structure is very vulnerable.
Materials relative strength has completely broken down and reached new lows. Expect this area to lead us much lower as we continue topping out.
SSYS is starting to break down out of a rising wedge on the daily, giving this ugly head and shoulders an opportunity to play out.
Streamline (STRM) was one of the most impressive breakouts on my screen today. The timing is a bit curious, but there are targets much higher.
Electricity has finally re-test the 2008 Head and Shoulders neckline. Odds are it fails at first, but this is constructive price action.
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