Lack of Selling

The markets seemingly is digesting the gains from the past few days. There is a gradual improvement in the market breadth numbers that I track.  The improvement in breadth is not because there is aggressive buying but due to lack of selling.  So far this correction has turned out to be a 10-12% kind for the indexes.  There are quiet a few stocks trying to emerge out of consolidation patterns that could potentially be considered for long positions.  If your trade works do not hesitate to take profits quickly.  This market is still deceptive.  All bets are off if heavy selling takes hold.  Always use proper risk management and honor your stops.  Here are some chart patterns to discern.


AAPL, ALGN, CMG, CSTR, ISRG, LKQ, SXCI, TDG, TNGO