I had a very nice pot of coffee this morning as I went through a few hundred charts picking up the best for StockTwits Brunch. If you weren't able to make it out this morning (I'm talking to you West Coast guys) then a little recap is in order.
First, if you want to read all of my tweets, you can get them by clicking here.
And if you want to see all the charts, they're on chart.ly.
Essentially the price action that we saw this past week was a soft breakout after a month long consolidation-- and that's very good for equities. But I remained concerned with the recent dollar strength. If the mean-reversion continues in currencies, then we should see a similar pullback in commodities and equities as well. Since the trend remains higher, then I'll be looking to establish long positions on pullbacks.
I'm currently getting my list set up as well as the corresponding option strategies that I will use to structure my trades. There's some very nice charts out there, and I'll have my subs prepared for this week.
Oh yeah, Bernanke is on 60 Minutes tomorrow. Should be good for a laugh.