Tuesday, June 05, 2007

Trade Ideas: SNA, MCS, DRS

Buyers slammed on the brakes as the indices churned around on higher volume. On a relative scale it was quite the swing from yesterday with the Trade Ideas scan taking 14 minutes to cover the top-8 stocks and the "20-appearance" list only featuring 3 stocks for the day:

One positive was the test of former broadening wedge resistance in the Russell 2000 (but with ADX < 20 the bullish trend is not confirmed):

The Dow remains unphased by the mixed small cap buying:

While the Nasdaq is like an educational tool for candlestick topping patterns (it too is trendless with ADX < 20):

Is this the tone for the rest of the summer?

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