Positive Action

On Monday, the Nasdaq rallied early and then
after a lunch break, it continued its rally to close well. 

Monday’s action is important as it has the index
rallying off the top of its recent breakout, which also corresponds to
its 200-day moving average.

The S&P also had a decent rally. This action
has it continuing last Friday’s bounce from the 50-day moving average.

So what do we do? I
like what I see. The fact that the market bounced off of the
aforementioned key levels suggests that the uptrend remains intact.
Therefore, focus on the long side.

Looking to potential
setups, although Serena Software (SRNA)
(mentioned recently) closed poorly, it still looks like it has the
potential to resume its strong uptrend.

Although Cree Research (CREE)
(mentioned Friday night) gave back much of its intra-day gains, it
still looks poised to rally out of a pullback.

Storage Technology (STK)
looks poised to rally out of a high-level micro double bottom.

Best of luck with
your trading on Tuesday!

 Dave
Landry

sentivetradingco@prodigy.net

P.S. Reminder: Protective stops on
every trade!

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