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Markets completed the week Friday with gains for the second straight week. From a weekly standpoint the Nasdaq doubled the advance of its S&P 500 counterpart. Both benchmarks are off to a good start to 2013, with moves northward of 3% each. The weekly charts on both display volume moving starting to liven up with stronger trade 2 of the last 4 weeks. Breakouts were quiet Friday with DK taking out a 27.68 flat base trigger. Friday did bring a number of issues breaking out from pivot points in soft trade, and they include flat base triggers of LINTA 21.05, ALL 42.91, TRV 74.80. Look for volume confirmation in the coming days. Recent examples are Fridays volume confirmation in CPRT of its 30.71 flat base trigger breakout on 1/7. PHG had nice volume confirmation Thursday as well from a 26.48 flat base trigger it took out 12/20. Other individual names that impressed us were CPN. It was taken off the GS Conviction Buy List, and still managed to finish higher Friday, albeit not by much. It is pennies below a 18.67 cup with handle trigger. BK had a nice quiet inside week after last weeks 7.4% weekly rise. It reports earnings this week, as many of the financials do as well. Among sectors that caught our eye is the interesting bifurcation of some of the big biotechs. As we see the heights ascending on the names of CELG GILD, we witness the weakening of group mates AMGN BIIB. No strategy to divulge just yet, but certainly something to take notice of.Sign Up to Continue Reading