Intraday Update: New High Level Consolidation -- MrSwing

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Intraday Update: New High Level Consolidation
Sep 08, 2010

Scott Redler

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The market filled Friday’s gap, which was healthy to relieve some of the overbought condition. The real key, though, was that market leading stocks did not join in the pull-in and held up well. This was a bullish sign that led to some great trades this morning.
We now have a nice high level consolidation (Bull Flag) around 1091 with resistance at 1104-1107. A close above that 1104-1107 level opens up the door for a move to 1128-1132.

Leading stocks are trading great. Our "go-to" stocks from price point sheet continue to outperform.
AAPL BIDU AMZN NFLX PCLN AKAM FFIV
CMG CRM VMW
LVS WYNN
POT
Banks also held support well yesterday and are not a headwind today.