Headed into Tuesday’s session, the key issue is whether Monday’s broad market rally was simply a sucker’s bounce setting up a deeper correction, or instead if it marked the end of yet another shallow pullback in this fierce bull run before we sprint to fresh highs.
I am looking at Boulder Brands (the artist formerly known as Smart Balance) as a long idea. The stock is heavily-shorted, and the first daily chart below shows a reasonably tight price consolidation above all moving averages. Look for a move over $17.40.
And on the short side, I am still stalking retail play Ralph Lauren. Note the declining major moving averages above price on the second daily chart, below. We saw a breakdown from the triangle pattern highlighted in light blue, then a bounce-back. A move back under $159 sees me playing for a further breakdown.
Drop me your top tickers overnight.
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Another great photo. Liking that BDBD…it’s on my watch list. Thanks