Action Points

The recent action in the market isn't providing me with many new and objective setups to post. When it does, I'll get them up as quick as I can. With the 2002 lows now being taken out, the next area of significance to keep an eye for the S&P 500 is 650. This is illustrated on the monthly chart in the "Index Watch" by a trendline that extends to 1982. Another chart that interests me in the same section is the monthly chart of the U.S. Dollar. As it approaches the Right Shoulder in the massive Head & Shoulders pattern, it's possible this phase of the greenback rally may be nearing an end, which gives me a little hope for the market. I'm going to post some of my scans during the week with examples.

Intraday Setups (Click on Symbol for Annotated Chart) DUG UltraShort Oil & Gas SDS UltraShort S&P 500 MVV Ultra MidCap 400 UNG U.S. Natural Gas Fund DBA PowerShares Agriculture TWM UltraShort Russell 2000 SMN UltraShort Basic Materials SRS UltraShort Real Estate DXD UltraShort Dow 30 SDP UltraShort Utilities FXY CurrencyShares Japanese Yen GLD streetTRACKS Gold Trust EEM iShares Emerging Markets Short Setups (Click on Symbol for Annotated Chart) BMS Bemis CASY Casey's General Stores PETS PetMed Express RGLD Royal Gold SMG Scotts Co TEVA Teva Pharma ALGT Allegiant Travel ICFI ICF International EPIQ Epiq Systems HMSY Health Management Systems CPSI Computer Programs & Systems SPTN Spartan Stores SRCL Stericycle GENZ Genzyme GILD Gilead Sciences CHD Church & Dwight LNT Alliant Energy ATO Atmos Energy WEC Wisconsin Energy XEL Xcel Energy XOM Exxon Mobil EW Edwards LifeSciences AOC Aon Corp LMNX Luminex GHDX Genomic Health LH Laborat