Monday, March 26, 2012

"As Good as It Gets" - Market Analysis and Setups for Tomorrow

You can't ask for anything more from the bulls than what they did today.   Today's move was what I was hoping on Friday when I was talking about the bulls "stepping up", but a day late is no big deal I guess.   With the Nasdaq, S&P, and Russell all moving to new highs for the year today, it certainly seems that the bulls are fully back in control of this market after last week's slight pullback.   No need to fight - if you're not long here, you need to reassess your strategies big-time.   Over the past three days, I have shared many setups that were up nicely today, so hopefully you benefited.

Here are the charts I will be watching but as of now I have about as many positions as I want to have so any other trades will likely be very short-term in nature unless I am stopped out of one of my current positions.   It would not be bad to see the market put in a day or two of rest here after today's big day so perhaps some of these can setup even further.   We're a bit overbought in the short-term so a little selling tomorrow would not be a shock either.  However, entering the end of both the month and the quarter, I would expect any dip to be quickly bought and perhaps we'll just see some major window-dressing this week anyway without a rest.  Good luck Tuesday.

ATLS
 EPAM
 RENN
 SFUN
 TASR
 TNGO
 TNP
 TRIP
All Charts from TC2000, Courtesy of Worden Brothers, Inc.

No comments: