ARTC was setting up as a short on the daily timeframe above. We had two NRBs under the 5/20 MAs and a crossover was imminent. Price tried to rally on the open but failed and quickly fell below the MAs on the 15 min. timeframe. After that it was just a matter of waiting for a dummy entry. Around midday, ARTC carved out a NR inside bar - NR7 at the base of S1. My target was the daily pivot (green line). The BO bar had high volume and closed near its lows, so no need to partial out at R2. The target was reached by early afternoon and closed on big volume which usually foreshadows the end of the move is near.

I ran a daily scan last night for 2 inside bars on declining volume and found two charts - CREE, and MCD. CREE is always interesting because it has such a high short float. Every time it takes out resistance the short squeeze comes into play. I messed up my alert and missed the early move, but I was able to jump in after an orderly 50% retracement.

I ran the scan again tonight but didn't get any interesting hits.

SGR and JOYG were failures. Similar setups off of NRBs near R2 base. SGR still looks good on the daily, so we'll see what tomorrow brings.

Updating the watch list - removing AFFX, FTEK, NTRI, EMC, TECD., and adding SPWR, QCOM, and CREE.