ChartSmarter Tuesday Game Plan 2/28/17

Markets ground out lukewarm gains Monday but it was the Russell 2000 that popped almost 1% after perhaps it liked what the President had to say regarding infrastructure today. Keep in mind that index is a pure play on the domestic economy which has very little exposure to international market behaviors. The Nasdaq added .3% and the S&P 500 by .1%. The bulls liked what they witnessed regarding sector action Monday as the staples and utilities were left behind and although the lagging energy group was the best performer today, the financials were second best with the XLF rising .53%. Healthcare rounded out the top 3 with the XLV up .48%. A name we have our eye on is NVRO and below is how the chart was presented in our Monday Game Plan this week. It has been shy before as it passed through the very round par number last September for the first time ever. This is not uncommon and it has reset and with experience above them before should be a lot more comfortable above it if it can penetrate the round figure to the upside again. Peering into energy a bit further some of these names have been beat up pretty good and it will pay to look at names that weathered the storm better than others. Those candidates may be the best actors once the dust settles and one can start with todays breakout above a cup with handle trigger for NOV. The stock broke above a 40.85 pivot Monday and is now 6% off most recent 52 week highs. Compare that to peers EOG, RSPP and PDCE which are 10, 13 and 16% off their respective highs.