The market is trading off Russian headlines like that's all that matters and dips are getting shallower and shallower. Eventually the bulls are going to trip upon themselves, who knows when.
There are some nice swing setups out there, but there are some subtle clues worth paying attention to early in the week.
The NYSE A/D line backed off at resistance Friday. I want to see it blast through before I get more aggressive long.
The biotech sector is the one to watch. Can it lead the market higher and break resistance from February?
Financials struggled at resistance Friday, offering bears a level to trade against.
SETUPS
KANG has pulled back to the breakout area and keeps finding buyers under 20. If I get long it'll be with a stop below Friday's low.
Tesla has traded very tightly after seeing numerous accumulation days. Friday was an NR7 day. We're looking for a move soon.
INSY with an awesome bull flag. The risk and reward are both higher with this tight float name.
OAS has formed some bullish divergences and the market is starting to react. It really depends on USO.
XON had a false breakout and false breakdown Friday after earnings Thursday night. What's next? There could be some vol expansion coming.
IMOS has based for two months after a huge run on heavy accumulation.
Trade 'em well!
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