Action Points

I'm not finished with the Weekend Review , but I do have the Breakout, ETF and Long setups posted. I'll have the updated Short Setups and the Index Charts up tomorrow afternoon.

Breakout Setups (Click on Symbol for Annotated Chart) AMLN Amylin Pharma BPHX BluePhoenix Solutions AB Alliance Bernstein ANR Alpha Natural Resources LSE CapLease LTXC LTX-Credence SIMO Silicon Motion Tech ACI Arch Coal AIMC Altra Holdings PCX Patriot Coal IDTI Integrated Device Tech FCSX FCstone Group LYV Live Nation VRS Verso Paper ORBC ORBCOMM ATPG ATP Oil & Gas LVS Las Vegas Sands PFAP Pacific Asia Petroleum SRI Stoneridge PLLL Parallel Petroleum CBI Chicago Bridge & Iron CNXT Conexant CCOI Cogent Communications CVGI Commercial Vehicle Group CETV Central European Media BEXP Brigham Exploration GLS Genesis Lease LXRX Lexicon Pharma MITI Micromet SWKS Skyworks EXM Excel Maritime Carriers SD Sandridge Energy SDTH ShendaTech SGY Stone Energy PUDC Puda Coal RAIL FreightCar America SMOD SMART Modular Tech DDR Developers Diversified Realty TASR TASER Intl TOMO Tomo Therapy TRID Trident Microsystems TTES T-3 Energy Services ULTR Ultrapetro...

I posted a few Setups to keep an eye that I didn't post over the weekend as well as a few Sentiment Charts I don't often get up. If I come across anything else, I'll Tweet it.

Breakout Setups (Click on Symbol for Annotated Chart) BEXP Brigham Exploration SWKS Skyworks BPHX BluePhoenix Solutions IMGN ImmunoGen SONO SonoSite TRID Trident Microsystems STKL SunOpta CBI Chicago Bridge & Iron PUDC Puda Coal SD Sandridge Energy CETV Central European Media GU Gushan Environmental AWI Armstrong World Industries ATRO Astronics Short Setups (Click on Symbol for Annotated Chart) MICC Millicom Intl Cellular ALGT Allegiant Travel NDSN Nordson MPWR Monolithic Power NATI National Instruments SXCI SXC Health Solutions HELE Helen of Troy

I was taken out of more positions last week than I have in a long time, but that's how it goes. Since the overall market volume has been less than impressive the past couple of months, we need to be aware of the fact that technical analysis is going to be much more difficult. I don't know for a fact, but I've read that Program Trading comprises 50% - 75% of all of the volume across the exchanges. When it shrinks, it makes for a tough environment. All we can do is make every attempt to identify the "key" S/R levels, trade small and get out if those levels fail. Although I've redrawn the connection between the shoulders several times, I still think the H&S is intact. I may be wrong, but my opinion won't change until we take $SPX 945 out. The primary Sentiment Chart I follow "supports" my thoughts, as it "suggests" we are either at or near an intermediate term top. Time will tell. As I've mentioned on many occasions, there are ...