A strong day for the Nasdaq with positive moves across the majority of the Technology stocks especially, which have been the most beaten down of late. The 4 hour chart shows the continued development of the Stage 1 basing pattern that is forming on the lower timeframes, which today cleared some trend line resistance for the first time. So a positive step, but remains within the basing structure, and so could easily go either way still, as it's a smaller base within a much larger distribution pattern that's been developing since the beginning of the year.
For the watchlist from Wednesdays scans - AVID, CONN, CPE, CRTO, PINS, PVH, QUOT, RAIL, SID, SLQT, TIGR, VALE, XONE
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.