The market tone has changed slightly. As the indices are over-extended and in need of consolidation, individual stock charts are basically acting the same. As a result, I am seeing a lot fewer compelling long setups and more on the short side.
For members, I am also including a file with entries, stops, and assumed risk.
- IACI – bull flag under the all time highs, seems to be getting ready for a breakout through 56
- LL – flagging over the 20dma, looking for a move through 110 and toward 115
- MKTG – consolidating above the 20dma and within a well developed base, expecting a move through 17.35 and toward new highs