In Need of a Pullback... Who Said That???

I've been going through my charts this afternoon and it looks to me like we need a rest here OR a pullback. There are breakouts and gaps up and good volume. Not just on Friday... we all LOVED the action on Friday. But some of the price action took place 3 or 4 days before the dreaded jobs report. 

I pulled up the weekly charts and found that the prices had returned to their multi-year highs in many cases. There's still hope, though. There seems to be plenty of upside if you go out to the monthly time frame. I don't know if we can take out the highs here without a rest and consolidation. I'm not going to run in and chase anything. You can never catch a runaway train so you may as well wait until it comes back into the station.

Here, then are some of the possibilities I see for the week ahead. A lot of the traders are still in the oil patch. Other favorite sectors: real estate operations and medical. FYI

---

$EAT Above 25 on volume. MACD/RSI rising. Next resistance at 28 then 32.

---

$LAVA B/O on good volume. MACD/RSI confirm. Resistance at 7.50; 9.50 then 12. Weekly says more up. Long right here or break at 6.80. Sector: Computer software.

Other names in this sector: $TIBX $ASIA

---

$ERTS On watch for Monday. Long over 20.25. Need volume and confirm from MACD/RSI. Over 24, then 30 then 43.

---

$KRC Nice pop on volume. Closed right at resistance. Long over 39.50. Nothing in the way until 48 on the weekly. Volume, MACD/RSI and MA Crossover all look good.

---

$PRXL Price up against long term resistance. Long over 25. Next stop 29.

---

$MDR Stepping higher. Over 26 with volume goes to 33. MACD/RSI curling up.

---

$MIC Good volume move into resistance. Over 25 with volume; MACD/RSI confirm. Next stop on weekly at 30.

---

$TEX Long over 38 with volume. MACD/RSI need to confirm. Some resistance at 43 than 50.

---

$YSI Prices stepping higher. Low volume on Friday. B/O over 10.75 goes to 13.50. Need MACD/RSI to curl up. This is in the same sector as $KRC: REIT's.

---

$WNR Another oil play. This has been on Twitter screens before. Nice price action into long-term resistance/support. Over 18.50 next stop 24. Nothing after that until 49.50.

$FTO $DK $EROC also in this sector.

---

That's about all for this weekend. Let's not forget that we get into some serious earnings reporting in the next couple of weeks. Trade carefully. Stay smart and trade well.