"A" Setups for St. Patrick's Day

Today was a true tour de force by the market as it shrugged off any jitters about weak oil or the upcoming Fed announcement and just blasted higher.

Among the major indices the S&P led the way with a +1.3% gain, while IBB (biotech sector) cleared the 350 level with conviction and tacked on +2.50%.

All of this points to the fact that the short correction we saw over the past two weeks may be coming to an end.

Here are the five "A" setups I will be watching tomorrow:

ALXN - With biotechs continuing to lead the odds are it will bounce off support and push toward 185

AMKR - Consolidation above support at 9 and the 200dma, now needs to reclaim the 20dma

ATHX - In a steady uptrend channel since the breakout from a long base, now flagging for a push through 3

AVGO - A tad extended on the daily but today's bounce points to more upside in the short-term

AXP - Continuing to develop a constructive bottoming pattern, now needs a push through 82

Posted to Tactical Alpha on Mar 16, 2015 — 9:03 PM

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