Major averages were up on higher volume. Tuesday kicks off the two-day Federal Reserve meeting. Odds are likely that the Fed will maintain the status quo given the level of unemployment and general state of the economy, including low levels of government-measured inflation given last week's PPI and today's CPI data.
Valeant Pharmaceuticals (VRX) had a pocket pivot coming up through its 50-day moving average yesterday as it attempts to round out what is so far a seven-week base. Group rank 12, sales are accelerating, pretax margin 40.6%, ROE 36.9%.
Taser International (TASR), after violating its 50-day moving average on Friday, had a pocket pivot as it pushed back above the 50-day line on an analyst's upgrade to "outperform." The position is slightly v-shaped, so the stock may back-and-fill a little bit here before going higher. Earnings and sales are both accelerating, institutional sponsorship has grown 8 quarters in a row, and it has displayed a strong uptrend with a gap up on its most recently reported earnings.
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