ChartSmarter Tuesday Game Plan 12/16/14

Markets started the week off looking ready for a nice bounce, but the premarket jolliness fizzled pretty quickly. The bears were salivating as bulls certainly would have preferred a weaker opening then a strong move into the close. Benchmarks went into the red in the late morning and never went green again with the Nasdaq down 1% and the S&P 500 by .6%. As usual the energy and materials group were among the worst performers and today the utilities joined them. The XLE is one of the few ETFs that are now below their October lows. What we are watching is how some of the real market leaders are doing. Not the ones incessantly discussed within the media, like the BABA’s, but names like WHR which acted well today with an inside day off the stocks finish Friday at the round 180 handle. Or an AMP in the finnie space which was hit to the tune of almost 5% last Friday but made a nice showing off its 50 day SMA Monday. Another development we are keeping a close eye upon is the pace of IPOs coming out. Particularly in the software space. The sector is rebounding a bit but still reeling from its brutal sell off earlier in the year. Friday saw 2 names start trading in NEWR and HDP. They were down 10 and 5% respectively Monday. Below is how another new issue in the group, CYBR was analyzed in our Game Plan today. It is up 3% from the highlighted entry.