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?
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
Trade Ideas
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?
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
Trade Ideas