Major averages fell yesterday on higher volume adding to the distribution day count. The large number of distribution days is a yellow flag though some leaders including social media names are showing strength. Nevertheless, this zig-zag pattern in the markets can be frustrating for less than nimble traders so keep stops tight and take profits when you have them in context with the overall chart.
Twitter (TWTR) had a pocket pivot breakout. Earnings and sales are soaring though technicals show a number of gap ups and gap downs. The prior earnings report was strong resulting in a gap up.
Medical device maker Abiomed (ABMD) had a buyable gap up. Earnings are soaring, sales are accelerating, group rank 17.
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