A weak read from retail sales did very little tripping up the gains futures were indicating prior to the US market open.  European shares rebounded recovering majority of yesterday’s losses.  The DAX is now in range to confirm a new up-trend if price and volume cooperate.  Yesterday’s end-of-day action was certainly a positive as a flood of volume followed it.  So far, it has carried over today and for those who are long this market will need to see these gains hold.  At this point we will need to see this market confirm a new rally for us to have much confidence this market can hit new highs.

We see a few stocks moving this morning peaking our interesting.  CSIQ is currently building a base, but is potentially offering an early entry signal.  FLT is moving back towards its failed breakout attempt at the end of July.  VIPS continue to be a great long term winner for Big Wave Trading as it continues to blast higher.  PANW is a market leader we are keeping a close eye on.  This stock is poised to push into new all-time highs.  It is prudent to stay on top of potential leaders even if the market is under pressure.  You never know when the market will turn around.

Stay tuned for tonight’s commentary where we will cover the day’s action.  Volume at the moment is running behind yesterday’s level.  We’d like to see this pick up as we push higher.