A higher then expected CPI number pushed the markets lower this morning, but the Nasdaq and smallcaps held and then reversed to close up on the day.The Dow and S&P finished moderately lower, but I will lean to buying this market as long as the Nasdaq is leading the charge. Gold and Oil had strong moves today and there were some nice moves in the individual stocks for those sectors. Here are a few more charts I'm watching.
Immucor, Inc. (Public, NASDAQ:BLUD)
BLUD broke under an ascending trendline but hasn't given up too much and it may end up turning to be a false break. I will be watching to see if volume comes in on a move higher.
Mindray Medical International Limited (Public, NYSE:MR)
MR is looking like it's ready to have a powerful move higher out of this triangle base. Sometimes when a stock only retraces a portion of the base, as it did after touching the top of the triangle recently, it shows bulls desperate to buy and could be signaling a strong move.
Bolt Technology Corp. (Public, AMEX:BTJ)
BTJ has a sloppy sort of base here, but is looking great on the longer term charts. It is close to all time highs here and with oil on the move, it could break out.
Vanda Pharmaceuticals Inc. (Public, NASDAQ:VNDA)
VNDA has retraced back to the most recent breakout area and could find support here. I'm not convinced that this is done moving lower, but it's worth watching to see if it can reverse.
Rambus Inc. (Public, NASDAQ:RMBS)
RMBS is another stock where I'm not convinced that it is ready to turn higher, but the chart looks promising enough to watch intraday.
Good Luck,
DT
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