I took some real effort not to trade today but with the jobs number tomorrow and the whippy market action that is what I did.
I am not sure tomorrow's data will matter with the trends as they are but a new short-term trend will have an easier time getting started once it is out of the way. The interest rate market is focused on central bank flows the price of oil is determined by the weather. Tomorrow's number may cause some noise but I am not sure it can change any of the bigger trends.
I noticed a few positive charts today: PAL, ALTI, CAD, and WTW to name a few. SMRT had a sharp pullback in an uptrend. The apparel retailers have put together an impressive 2 days.
FYI, what I do with names like these is just add them to a watch list and see what develops. I pick them out on obvious patterns like strong volume, new highs, moving average crosses, or gaps. If they are near a good stop I may enter a trade quickly but these patterns create crowded trades so waiting for a shakeout of some sort is my preference.
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