Yet another strong day for the market but with a twist.
Major indices once again had a sideways consolidation day and ended the day flat or slightly green. However, and unlike last week, there was a lot less strength under the surface and it seemed that the whole market was carried by one stock: AAPL.
None of this is alarming or technically significant. Conditions remain unequivocally bullish, but we do need a rest.
Here are some of the setups I will be watching tomorrow:
ADM - Continues to consolidate in a tight range above the 200dma, now needs a push through 48.50-.60
CRTO - Starting to move out of an almost year-long base, seems to be getting ready to push through 45
CYTR - Narrow consolidation around the 200dma within a well defined price structure, now needs a push through 3.30
EW - Narrow range consolidation, seems to be getting ready for a push through 135
HDB - Bull flagging above the 20dma, needs a push through 60
MARA - Constructive pullback to support, now getting ready for a push through 7 and toward the 50dma
ORLY - Very extended, but short tight flag suggests the potential for more upside