After yesterday’s run-up, and heck, the run-up of the last two weeks, it wouldn’t be surprising to see some profit taking or at least some sideways actions today. Overnight, the Asian markets were down about a half percent overall, while European markets are treading slightly in the red. Currently, the US Futures are trading flat-to-slightly negative. The big report today comes from the Producer Price Index at 8:30am EST. You also have the Redbook at 8:55 and then Industrial Production at 9:15.
Here are Today’s Trade Setups…
Bullish Candle Setups: None
Bearish Candle Setups: OSIP, RHB, BIOS, RGC, EZCH
Stocks Ready to Bounce: STV, PIKE, AMSF
Stocks Ready to Pullback: SVA
Breakout Stocks: BID, HPQ, TYC, GTI, HON, GROW, AKR, HRB, PEET, VIP, OKE, VTR, HLS
Breakdown Stocks: SEAC