Markets rose in a volatile session Wednesday closing up but giving back half of their gains in the last hour. Both the Nasdaq and S&P 500 climbed .2%. For a second straight session however the staples were near the top of the sector rankings being the second best performing behind only the utilities, not exactly the picture of growth. Selective stock picking is being rewarded and the security software plays have been shining. The Cyber Security exchange traded fund HACK we took a look at back in our opening paragraph of our 2/20 Game Plan. Volume has exploded recently with the last 2 weeks CLOSING higher by a combined 5.4% and this week has advanced by 3.4% thus far. Weekly trade was the firmest ever for the ETF the last 2 and this weeks volume is already double the normal average. Action among its top components like FEYE is looking at a potential fifth weekly advance and it has more than doubled since last Octobers lows. The stock is now well past its prior cup base trigger of 46.28. CYBR has flew this week up more than 11% thus far and it too is above a cup base trigger of 69.10. Volume each of the last 3 sessions has been double the normal average. When we examined HACK we wanted a retest of the cup base trigger of 27.72 originally taken out on 2/13. That was achieved on 3/25-26 and held steady and it then went on to take out a 29.05 double bottom trigger on 4/9 which was retested almost precisely the 3 days between 5/5-7, which also failed to buckle. Below is how the chart appeared in our Game Plan on 2/20.
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