With most major markets making slight gains to stay positive yet not much movement, the rest of the week will be a major test to see the directions.  As the SPY, NDX, NYA all show candles of indecision right around the new highs. The earnings recently have been missed which may be the reason. Something to keep an a watch on for a possible pull back.  For individual sectors, materials made a clean break on the back of higher metals, although gold & silver are still within the channel and oil natural gas is trying to breakout, none have yet. Banking ($BKX) is strong, while Biotech ($IBB/$BTK) pulled back after its breakout. Many things are at crucial pivot points. If the markets turn then shorting will be were the money is at, especially with the slower summer market months. 

 

$AKAO, Short <19.75. PT $18 (200MA@17.47) then $15. Despite a strong $IBB. Testing key $20 multi month SUP. 38.5M Float, SR@7.8 days. ATR@1.18. Large vol 800K avg  vs 2M today.  Could bounce but with IBB strong and this stock falling with vol, it looks like a fade. This is record high vol at this price point. 

 

$ASPS, Long >26.73, (prev day high), 200MA@26.33. 346K avg vol vs 783k vol today. Huge squeeze, 11M float, 38% short float, SR@12. ATR@1.02. 3.5m shares bought by insiders reducing the float even more.  

 

$ATI, Long >19.25. PT 20 then 22. Metals play.  Another potential squeeze play. 108M float, 29% short, SR@15. Avg vol 2M vs today at 6M. ATR@0.75. 

 

$BKS, Long >$8.50, 56M float with SR@4.5 days. Avg Vol 1.2M vs 4.3M today. ATR@0.41. strong uptrend. 

 

$CRC, Long >8.75, 50MA@9.76. 200MA@14.40. Another commodities play. As oil, nat gas and metals continue up this company should benefit. 39M float and 41% short, only SR@7 days, this stock could see a large short squeeze. It has been basing at $8 after a sharp decline from $23, now breaking the downward trend. Shorts may have few reasons to continue to hold here. 

 

$FCX, Long>$15. Rebounds with the metals market. Earnings seemed to be disappointing but the market seemed to have that priced in. Push through $15 and this could see $17 again (52h@17.06). Bigger company, 1.44B float, SR@2.7. Huge vol spike, 19M avg vs 74M today. 

 

$IMGN, Solid options play. AUG18’17 $7Call @.20-.35. every bounce off 50MA has resulted in 50-100% move within 2-3 weeks.  If this moves 25% in next 3 weeks will be sitting pretty. SL 50MA.  SR@5.3 Days

 

$IVC, Long > $16, 52H@16.65 first PT then 20.  Large breakout today above all indicators, 20% float short, with 11 days cover, 33M float, 0.64 ATR. 52H@16.65,  Huge volume, 645K avg vol with 3.3M today.  History of multiple day runs. 

 

$SRCI, Long > 8.40, PT $9 then $10. broke above 200MA@7.93. Float 196M, short % 22% with SR@15. Avg vol 2.8M vs today 10M. Expect another strong move up to cause a large another squeeze.