It was a very perplexing day as the markets gapped above the highs of yesterdays long wicks and maintained above yesterdays highs as they consolidated and then closed at the highs. It will be interesting to see how they react to tomorrows inflation and housing numbers. Keep in mind that this is options expiration week and I wouldn't dismiss program trading trying to jockey for position kicking in already. With that in mind, todays action was decisively bullish and there is a chance for a follow through tomorrow. Tomorrow could be tricky so it's best to wait till after 10 before initiating any new positions.
Here is an updated chart of CXW which I think gave a buy signal yesterday.
INFA continues to look bullish here. You could classify the chart pattern as a cup and handle or reverse head and shoulders with a close above 14.
HANS tagged the 200 yesterday and reversed, followed by a bearish engulfing pattern today (on a strong day no less). Looks pretty weak to me.
BWNG successfully cleared the downtrend and looks to have cleared a bull falg consolidation.
This is a similar chart for MYOG, except it hasn't cleared the Flag yet.
Good Luck tomorrow,
DT
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