Momentum Monday; Where’s The Volume?

It was a low volume kind of session as we return from long three day weekend. Big percentage runners were hard to come by and the Delta scan inside Stocklabs was basically nonexistent today. Fast forward to the close and we now have a few more block trades to deal with courtesy of Credit Suisse.

The indices continue to look good which is a bit confusing given the lack of volume and overall weakness in the usual momentum stocks. It still feels like someone is positioned the wrong way, and bigly.

In today’s momentum scan there were 80+ stocks trading above average volume, while up over 2%. The scan can be found here for charts surfers: CLICK HERE FOR CHARTS.

Tickers to watch this week from scan include: $AMC, $FB, $INTC, $BB, $F, $GM, $BNGO, $UAVS, $SRNE, & $NEXT.

Monday’s scan has left me a bit underwhelmed, so I decided to buy more $IPOE in front of the SOFI merger this week. I also picked up the $TWTR bird, which gave us a nice hammer to work with.

Your guess is as good as mine this week. Let’s take it one candle at a time.

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