The Market Follow Through Negates the Short Term Head and Shoulders Top

The market resumed its uptrend on Monday.

The high volume surge today of major indexes negates the short term head and shoulders top formation. S&P500 came back above the neckline after it lived under it for 4 trading days.




The Nasdaq Composite, which is the leading index, broke above the 5 week flag formation on high volume.



The action in leading stocks overall continues to be muted. IBD 100 has been lagging in the entire rally from March 12 follow through. Though if bought right, profits can be made handsomely. Strong bear market rally can be very profitable.

Here are a few good ones broke above the trading range.

BIDU, TLEO, STAR, EJ.

Here are the top leading stocks continue to form the second stage bases,

GMCR, NTES, SNDA, VPRT, ARST, NFLX, CYOU, PWRD, AMZN, STEC, RVBD ...