The prior post has a sector breakdown and charts for oil, natural gas, and the dollar. The indices are near resistance, and there's a good chance we see more of a bounce in commodities. At the same time, I'm not finding too many short setups that I really like. That could change quickly with some distribution in the broader market. Several of the charts below are commodity-related, so I will be careful with entries and stops given the market conditions.
- SKF is looking attractive here. I have a smaller IRA account that is entirely in SKF as of Tuesday, more as a medium-term hold. I have visions of it revisiting the highs of just last month.
- SID: Wary of a commodities bounce, but it is sitting under resistance with little in the way of support.
- TNH: Looks like SID.
- RICK: Lots of selling. Hoping for a low volume move higher for a short entry.
- THQI: Broke down after earnings and has retraced to near resistance.
- LNN: Producer of irrigation products has overhead resistance and a descending 50 day moving average.
- ASTI: Solar company broke support, but higher oil may hold it up. I'm short with a stop over today's high.
