Uptrend In Tact

{+++}Weird day, choppy with multiple fits and starts. The sideways action that we saw today can be construed as bullish and until the bears show their claws, the trend stays in tact. If you remember a month ago, I couldn’t find a bullish chart as the market was in sell mode, conversely, I now am having difficulty finding with bearish charts. As always that can change, As you know we are leaning very long on the watchlist, many of last evenings names haven’t triggered and that just fine. If the market kicks higher many will trigger, so be patient.

I planned a video tonight, but I had a tech issue so I will resume tomorrow evening. I will be on Stocktwits TV tomorrow at noon for the mid day recap and will be doing the show every Tuesday and Thursday at the same time.

CREE,XME, FEIC and PJC triggered, and NEU triggered and stopped.

I think we need help from the financials if we are to go higher, the tech stocks have been awesome and the commodity and material stocks may beed a breif rest as the dollar has gained some very short term strenth. We can stay overbought for a while longer, when the tide turns we will get short, the key is not to have too much exposure long and watch our stops.

WATCHLIST JULY 26

LONGS (HAVEN’T TRIGGERED)

MDRX – 16.67 STOP 16,25

PWRD – 36.12 STOP 35,20

BHP- 62.92 STOP 61.50

ANEN- 18.74 STOP 18,30

LFT- 28.36 STOP 27.50

UYM- 22.42 STOP 21.80

MELI- 31.50 STOP 29.70

FEIC- 25.12 STOP 24.30

LONGS (HAVE TRIGGERED)

SNX 29.30 STOP 28.40