Editor's Note:

We survived last week with the market climbing to new five-month highs. The S&P 500's breakout past the 1300 level is bullish. Last week was successful for our watch list with several candidates getting triggered. Yet now stocks look overbought and we're entering an extremely busy earnings announcement week. I am concerned that stocks could see some profit taking. I am not suggesting any new positions tonight. We did add FXI as a new watch list candidate. The list below are stocks on my radar screen.

MSFT, INTC, SCCO, SYK, CIEN, SJM, JDSU, SCHW, MS, FWLT, DFS, and CCJ

These stocks all look bullish but I don't see a bullish entry point quite yet. Some of them need to see a correction. Others need to breakout past resistance.