Thursday, August 2, 2012

Eight Charts Holding Up Well For Friday

Haven't made any trades this week after getting whipsawed on a few Monday, but I saw some nice possible long setups tonight in my scans.   Going into the week, I fully expected a pullback and that's what we've seen.   Will the bulls step up (and soon) is now the question of the day.  I wish I knew the answer, but the Fed and ECB news seems to be out of the way for the time being at least although there is the jobs number to deal with as well tomorrow.   All in all, the pullback hasn't been too sharp in my opinion considering the news flow, at least compared to the other ones we've seen throughout the summer.   If the bulls can hold their ground tomorrow and get things going somehow, I will be very interested in playing the names below.   100% cash for now but watching things closely.

ACAT
 ALEX
CDNS
EXPE
GRA
INVN
PCYC
VAC
Charts from TC2000, Courtesy of Worden Brothers, Inc.

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