Still having all sorts of DSL problems at home, so there will not be an update tonight again. I was going to take tomorrow off due to options expiration anyways. Here are updated Nasdaq and Rus charts. Good Luck to those trading tomorrow.

I will be tied up most of the morning so I will only post one chart. LVS is bouncing off the trendline and 50 sma. Huge down volume , but if it can hold up, you could get a couple points on a swing.

Good Luck,

DT

Strong day today with SP500 and Dow making new highs. Nasdaq and smallcaps are lagging overall, although price action was solid today. I am having DSL problems, so there will not be an update tonight. I will try and post an update tomorrow morning. Be careful tomorrow, particularly in the afternoon with options expiration on friday.
Good Luck,

DT

Here are the missing charts from last night.

Sorry about being brief today, but I am short on time. To add to the problems, blogspot is having problems uploading graphics. I will post the following charts tomorrow.

WCC - triangle breakout
SCHK - triangle breakout
MFLX - testing upper resistance
FCFS - breakout
CRDN - possible breakdown
IBM - New rally
VLO - testing resistance at 57ish
SBUX - resumption of uptrend?
MNST - headed towards upper end of channel
AAPL - Testing downtrend line resistance with positive divergences

Good Luck,

DT

I am looking at making the trade ideas scanner an addition to this page, similar to what trader mike is doing. It is at the bottom of the page and it updates every thirty seconds. Feedback is appreciated if this is something you would find useful. I all also try out the product and let everyone know what I think. Thanks,

DT

Another sorry day as after the initial pop, the markets did nothing the rest of the day. It's a mixed bag right now for the indices and I am still keeping most of my trades to very short timeframes.

ERS looks like it is resolving into a triangle. Keep an eye on this one as it has been the top stock on IBD 100 for a few weeks now.
BWNG looks like it is ready to move after a quick consolidation.
I seeing mixed charts out of retailers. BBY is one that looks decent. The intraday chart is showing a nice triangle.
AEOS has been advancing well after breaking out of a reverse head and shoulders base.
ANF is a retailer that looks pretty sad right now. Just started leaking out of the channel, and although it has gap support below, it could unwind pretty quick if retailers or markets take a hit.
CHS broke down and has climbed back to previous trendline on declining volume. Watch for a breakdown.
GROW may have bottomed here.
UBB is testing previous support as resistance. This looks like a short to me if it makes a lower low or if it breaks back down under the 50 sma.
JPM may get a bounce here after a sideways consolidation.
Thats all for tonight. Good Luck and Good Trading,

DT

Smallcaps have been hit hard lately, and while they are lagging the big boys, I think they may get a run this week. Here is my Russell chart.
ABAX took a pretty steep pullback to trendline support and had a nice bounce.
Emerging markets have also fallen, but BBD is still within the uptrend channel.

USG started to rise from the bottom of the current trading range.
COST has been looking good.
PNRA is bouncing off the trendline and looks like it is breaking out of the current pullback.
PAAS bounce off the lower trendline.
Cramer is an idiot. Someone called in on the lightning round Friday, and he said something along the lines like how can you think GG and SLW are in the same class and that they should trade in to PAAS. Doesn't he realize that GG owns 62% of SLW?
AUY has held up OK as far as gold plays.
TTI barely defended it trendline at first, but came back strong.
BOOM is starting to get interesting.
MNST had a nice bounce off the 50SMA.
GFIG looks like it may fall apart here.

Good Luck,

DT