Just A Few Of Many Areas That Look Poised To Resume Their Uptrends
On Monday, the Nasdaq drifted lower throughout the market
but reversed to rally for most of the afternoon. This action has it
closing well and sets it up as a pullback in a persistent uptrend.
The S&P put in a somewhat similar performance.
So what do we do? This indices started weak
and ended strong. This action suggests that the correction is over and the market is
free to resume its strong uptrend. Continue to look to get aggressive on the
long side. Internet, the semis, software, telecom, and retail are just a few of
the many areas that look poised to resume their uptrends/recent breakouts.
As far as setups, Federated Dept. Stores
(
FD |
Quote |
Chart |
News |
PowerRating), in
the aforementioned strong retail sector, looks poised to resume its strong
uptrend out of a pullback (full disclosure: I do not personally own this stock
but directly advise those who do).
Essex Corp.
(
KEYW |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks poised to resume its
accelerated uptrend out of a
pullback.
Best of luck with your trading on Tuesday!
Dave Landry
P.S. Reminder: Protective stops on every trade!
P.P.S. Learn my newest and most advanced version of my Bow
Ties Strategy. Click
here for details.