The markets over the last two days have seen some minor profit taking and an orderly pullback to the support level around 1130. I want to keep an open mind here about what could possibly happen next. I think we: 1) Bounce off this new support level of 1130 and head higher or 2) we retrace a little lower to the 200 day MA at 1116 and then bounce higher. In either case, as long as we don't see large selling pressure in the next few days or week, I think its safe to say this is a dip that should be bought for bulls. We have lots of room to run if we clear 1150, which is the high back in January of this year.

I like the setup in Alcoa here, I think it has a good chance to run to the 200 day MA if we see some strength in the markets here. Nice volume today and looks to be breaking out of this pennant pattern!

Looks like the casinos are back in business down in Vegas. I like the flat base breakout on this name today with nice volume. Would like to see some upside continuation tomorrow. May buy right at the open on this one!