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Markets once again finished lower Tuesday, but slightly off the lows. The Nasdaq continues to hold like a magnet to its 3100 handle. The digestion process for both the Nasdaq and S&P 500 persists. MDCO had a huge breakout today from a 26.94 flat base trigger. Two others I really like right now which have not experienced volume confirmation yet are LKQ RJF. LKQ took out a flat base tigger of 22.38 on Monday and RJF took out a 40.09 flat base trigger of its own on 1/4. Look for volume confirmation in the next few sessions. Some other names that caught my eye today were NTI SGEN . IPOs have been acting well in general, and this one was no exception today, as it registered a bullish outside day, as it reversed off of 10 week support. SGEN is now up 6 days in a row, as the right side is starting to take shape. It is a holding of Bill Gates to boot. Stocks holding their gap ups 4 consecutive days now, a rule I like to follow to make sure the move is valid, are CAT TEX PPG ASH, to name a few. The move was especially strong from PPG today, which hit an all time high, recording a bullish outside day in the process. The aforementioned names are suggestive of a stronger economy this year. Going forward call me a fundamental bear on the economic thesis, but a technical bull on the stock movements. As technicians we respect the tape above all else, until it lets us know not to.

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