For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

https://www.youtube.com/watch?v=Ur8rBhREsAU

After a few false bottoms along the way, now may be the time to try an energy sector long for a snapback rally trade.

On the daily chart for the sector ETF, below, note the very high volume reversal on Wednesday to accompany the long-legged doji variation at the 200-day moving average.  I would keep a stop-loss under $91.

ERX is the levered long instrument.

Also note the high buy volume upside reversal in crude oil itself.

Drop me your top tickers overnight.

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Seeing as recent IPO’s are the hottest names today, it is only fitting that BABA finally wakes up this afternoon to break its 30-minute range to the upside.

Jack Ma is hoping his favorite eponymous movie character may have had it right when he said, “I. Was. Running!”

See you after the bell for my video market recap.

This market is definitely turning into a “when in Rome…” tape for traders on a daily basis. Yesterday’s weakness, for example, is being gained back with today’s strength. I still see many sloppy daily chart patterns for longer-term swings.

But for momentum, recent IPO’s like BABA CYBR GPRO are clearly where the action is.

Also keep an eye on DGLY LOCO to see if they get going soon.

Frothy? It sure seems that way if these are the hot issues.

But that won’t change until the Barbarians invade Rome and truly put an end to the QE Empire.

Equities are grinding higher as we speak, but I am still stalking another bond short.

TLT is potentially stalking at $115 for a “right shoulder.”

I am close to reinitiating a short via TBT TMV.

What are you trading this afternoon?

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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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