April and Q2 started off on a weak note: the market had a sharp sell-off at the open but then recovered in the afternoon to close with mild losses.
Biotech/healthcare continued to lead to the downside, while the small caps once again showed impressive resilience.
Tomorrow is the last trading day of this holiday-shortened week and trading conditions are likely to be choppy.
These are six of the stocks I will be watching tomorrow:
ATHM - Continues to flag fairly well and maintain good relative strength, needs to push through 45 with conviction
DRII SHORT - Toppy price structure and today's rejection off the 20dma suggest more downside is likely
FLT - Good relative strength and continuation to yesterday's bounce, expecting it to keep moving higher toward 155
FOLD - A biotech stock, but seems to have solid support around 10.20 and could be ready for an oversold bounce toward 12
FORM - Sloppy pullback but solid support in the 8.80-8.90 area, expecting it to reclaim 9
INSY SHORT - Neutral to slightly toppy pattern, if the 50dma fails a move to 50 becomes more likely