Please see my notes on the following daily charts of long ideas to have in mind this week. Of course, given the corrective nature of the tape in recent weeks they all come with the caveat that the broad market must be more cooperative to breakout plays.

But there is no denying that they have outperformed the rest of the market and should be watched due to their relative and overall absolute strength.

Also, earlier today I published my Weekly Strategy Session, with thorough market analysis, relevant issue coverage, actionable trading ideas, and plenty of educational material. Please click here for more details (Members of the 12631 Trading Service inside The PPT receive the Strategy Session each weekend at no additional cost).

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If the market is going to immediately recover from last week’s selling for a thrust higher, then you can expect leadership to almost assuredly be far more pronounced that what we have previously seen in 2013. The many breakdowns we saw likely need time to heal, though some appear close to a tradable bounce.

In the event of further resilience on the part of bulls, consider the private equity and asset management firms. Blackstone appears to be taking on a leadership role of sorts, while the other related firms charted below all printed potential bottoming candles on Monday, in the form of a “hammer.” Keep in mind, a deeper broad market correction would easily render those hammers to be merely a short-term bottom for perhaps a few days, rather than a durable low for weeks or months, even with immediate upside confirmation.

In other words, we are still not out of the woods.

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The following smaller cap stocks are bucking the weakness in the Russell 2000 Index today. Keep an eye on them for further strength going forward. Also note they may trade on the thin side in terms of volume. So, be careful with market orders.

(No positions in any of them at the time of this writing)

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Here are two long ideas for Thursday (which is Friday, in effect, with the market closed for Good Friday).

If breakout plays are permitted to hold, these two look as ripe as any, with tight price patterns and sound buy volume.

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Here are four rather heavily-shorted stocks sporting charts ripe for a squeeze higher into next week. Note the impressive volume patterns in favor of the bulls at the bottom of each daily chart.

Also consider that a “max pain” market could easily see vicious short squeezes across the board as every last bear may need to feel the pain before the tide eventually turns for a true market correction. With that in mind, it is best to be prepared with sound ideas for such a scenario.

NOTE:  My thorough Weekly Strategy Session has been published and sent out to members this week. I am confident that you will find this week’s version to be of tremendous value in your weekly preparations for the market. It is never too late to sign up at a very reasonable price, so please click here for more details about subscribing or even making a one-time purchase (the subscription plans offer much better value over time). As a reminder, members of 12631 receive the Weekly Strategy Session at no additional cost, as it is included in their membership.

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I like the following long trading ideas in conjunction with further market strength. As I have discussed for several days now, though, below 1548 on the S&P 500 likely puts new long trades on hold. Nonetheless, being prepared for the next wave of breakout plays is imperative.

Stay alert, my friends.

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