Markets overcame some shallow afternoon weakness to close slightly lower Friday. For the week they were basically UNCH. It seems like the last few weeks having been comparable to the summer doldrums months. Boring, sluggish moves, that seem to resemble coiling action. However, remember the old adage, never sell a dull market. Of course things can change at anytime. One mild breakout was recorded Friday, coming from DHR, taking out a 61.59 4 week tight trigger. Bullish moves I like to keep an eye on are how stocks react following bullish gap ups. If they hold them and trade tightly, I like that very much. Stocks displaying this type of behavior to be monitored are CBG MAS AVY BRO RS RL HES BIIB. Regarding the HNZ merger news, a look at its weekly chart, had it looking like its was acquired already 3 weeks ago. Weekly closes within .19 was very bullish. Some negative stock news this week came from stocks such as RKUS down 21% on the week, RAX 20%, DDD 11%. Even a look at WFM, which has become an earnings debacle story, lost 7% on the week. Its last 2 earnings announcements were pretty weak. 2/14 it lost 10%, 11/18/12 it lost 6%. Going back to its previous one before that it lost 7% on 7/20/12, although it did rally days later after reporting. Are the RKUS RAX DDD WFM foreshadowing things to come?
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