Markets jumped at the open, and slightly built upon them later in the day, finishing at highs for the session, hallmark bullish traits. The Nasdaq led the way with a 1.6% gain, and the S&P 500 posted a very respectable 1.4% advance. Volume advanced today, giving the move more backbone. Breakouts are back, which is giving this recent rally something to hang its hat on. Today CELG took out a 131.92 flat base trigger, after recently recapturing its 50 day SMA a few sessions back. Volume was more than double average daily volume. SNTS took out a flat base trigger of 24.00 today on very healthy trade. More importantly to gauge market health is to observe the action of recent breakouts. Remember the best one will work out right away and advance smartly. So while it would be wise to monitor CELG SNTS the next week, lets examine what some recent breakouts have accomplished, AFTER the move. LOPE is up a quick 4% since a 34.17 flat base breakout Monday. Notice how volume has expanded every day this week. WWW took out its own 54.35 4 week tight trigger on 6/28, and has risen a rapid 7% since, like it was kicked higher by one of its steel shanked boots, pun intended.
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