Watch List

Most of my scans are turning up toppy looking reversal patterns. I see a lot of long upper shadows, bearish engulfing bars, and even a hanging man. So tonight's watchlist will be short. There are still pockets of strength in the semiconductors, so I will be looking for follow through there as well.

TEVA has formed a symetrical triangle and looks well positioned to break out in the near term. Look for a volume spike on the break.

MCHP looks well positioned to test and take out its January highs. All of the indicators and oscillators are bullish.


ITRI still looks good to break out. We just need more volume. Refer to last night's post for more details.