Following yesterday's mega rally I expected the market to act a lot stronger.
The Russell and Nasdaq did close slightly higher, but almost all sectors save for healthcare and biotech were red. Notable weakness was (surprise, surprise) in oil/energy and financials.
Regardless, we remain in a firm uptrend and the path of least resistance is still up.
The following are the five setups I will be watching tomorrow.
AGEN - Bullish bounce off the 50dma and a strong close near the top of recent consolidation, expecting continuation toward 6
CYTR - Long narrow-range consolidation right above the 200dma, will be watching for a push through 3.45 with conviction
GOOG - Constructive pullback to support in the 540-550 area, looks like it's getting ready to push higher toward 580-590
HILL - Narrow range consolidation under 5 and near the top of the consolidation area, needs to push through this level soon
MNST - Monster upward channel with a recent breakout and sideways consolidation, now seems ready to push through 140 and toward new all time highs