By: Scott Redler
The market filled Friday’s gap, which was healthy to relieve some of the overbought condition. The real key, though, was that market leading stocks did not join in the pull-in and held up well. This was a bullish sign that led to some great trades this morning.
We now have a nice high level consolidation (Bull Flag) around 1091 with resistance at 1104-1107. A close above that 1104-1107 level opens up the door for a move to 1128-1132.
Leading stocks are trading great. Our “go-to” stocks from price point sheet continue to outperform.
AAPL BIDU AMZN NFLX PCLN AKAM FFIV
CMG CRM VMW
LVS WYNN
POT
Banks also held support well yesterday and are not a headwind today.
