Fridays action was pretty choppy, with some share selling shortly after the open. However, the market recovered its losses, and the indexes now appear to be forming a bullish flag near their 50-Day MA’s, as seen here in the S&P 500.

I had one trigger on Friday in WLL, which still looks good here.

Other recent triggers didn’t move too much, but this recent trigger has caused me some frustration. I was stopped out of KFN after a recent trigger. I had my stop below the 15-Day MA. I should have placed it under the 50-Day MA, or at least under support. I could have caught this huge move.

Besides the bullish flags forming in the indexes, there is something else that is causing me to be a bit bullish here. The dollar looks ready for some rest. As seen here in UUP, the indicators are pointing straight down. If UUP moves lower, we should see stocks move higher.

There is a golden cross forming however in the 50 and 200-Day MA’s. If UUP moves lower and finds some support there, I plan to buy it.

I found a lot of bullish looking setups, although some were a bit sloppy. Others need more time. Here are some of the charts I will be watching tomorrow. These to me, look to be among the better formations in my screens.

Trade Ideas for 03/01/10:











Good luck and good trading!