Here are a few names I am watching this morning. They all have a trigger buy/sell number to help you understand the pattern that I see. There are still some OK set ups out there but as a whole the market is still in a choppy range which does not bode too well for momentum breakout trades. $SPY had a choppy session yesterday as it continues to consolidate sideways, as long as $SPY is able to hold above the key 166.53 (or 167.07 would be better) we must assume it’s simply consolidating sideways to allow the MAs to ‘catch up’ before continuing higher. If the $SPY happened to start crossing below 167.07 then the likely hood of a pullback through price increases versus the time consolidation we saw yesterday. Over 168.40 the likelihood greatly increases that we see at least 170. 

 

Long Set ups – 

$CST – Nice IPO base, 32.50 trigger

$CMA – pulled back to support (21 ema) and had a nice green candle, look for continuation over 41.06

$FMER – OK bull flag but not amazing, trigger breakout over 21.25

$DF – nice base and bull flag coming out of the base, looks good over 10.70

$HRB – bull flag above a strong base, trigger over 30.50

$ATVI – nice high and tight bull flag, trigger over 15.30

$LNKD – OK bull flag, could use a couple more days up here first though, trigger over 199.50

$GILD – high and tight bull flag but a little extended, trigger over 57.80 and a hold above it.

$SOHU – Really nice pattern holding higher and coming out of a strong looking base in a hot sector, 67 trigger

Short set ups –

$IVZ – holding lower forming a bear flag, 31.58 trigger

Ben C Banks’ Watchlist for 7-18-13