Momentum Trader Report: 03/30/09

The market continued lower from Friday. Although the indexes were down considerably, the market avoided a distribution day by closing down on lower volume.

Although the pullback was on lower volume, and the S&P closed above its 50-Day MA, the technical damage calls for more downside from here.

Not all stocks moved lower.  Last week’s trigger, MYGN moved higher.

Here are a few charts I will be watching, but I don’t plan to hold anything overnight, unless the action shows otherwise.

Trade Ideas for 03/31/09:

Good luck and good trading!