Markets gapped down on chatter regarding European debt and Mideast worries. Weak new home sales data at 10:00 added to the pressure. Prices stabilized shortly thereafter. By afternoon prices trended higher. The NASDAQ and DOW notched new short-term recovery highs, but the SPY didn't confirm. Still, today was the first trend-like day since the recovery began.
GDX (gold miners) forming a symmetrical triangle as it tries to catch up with GLDGLD forming bullish inverse H&S pattern.
SMH wedging or flagging.
GES bear flagging following last week's earnings/guidance disappointment. Target gap support.
FOSL basing at resistance. Needs to consolidate after three consecutive higher closes.
LNN forming a small handle at base.
LRCX - watching to see what price will do when it fills gap. I suspect we'll rally back to $56.00 before reversing back down.
ITMN basing, looking for higher price.
Day Trades
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