The stock market is still trying to move higher but it's just not seeing much success. The path of least resistance is up but I am suggesting caution as we move closer to the new year.
Instead of listing a new play tonight I'm posting a little watch list of what's on my radar screen so you can see a few of the stocks I'm looking at.
EBAY - this stock has been underperforming the market in December but the stock has pulled back toward prior resistance and what should be support near the $28.00 level. Aggressive traders could buy it now with a very tight stop loss under $28.00.
GME - this game retailer has risen to new multi-month highs and if you look at the weekly chart this stock appears to have broken a very long-term downtrend. This might be a tempting bullish candidate on a dip in the $22.00-21.50 zone but keep in mind the stock doesn't move very fast.
RMD - shares broke out past major resistance near $34.00 several days ago. A dip back to $34.00 (or another bounce near $34.00) could be a new bullish entry point.
SPLS - This office supply store's stock doesn't move super fast but shares look ready to breakout over short-term resistance near $23.00.