It's a Wix on, Wix off Market

Amid a soft open for the indices and crude oil, select plays beneath the surface continue to act well. 

To be sure, this seems like the type of tape where one needs to ferret out hidden gems, truly putting in the work beyond causally glancing at the indices and some widely-known marquee stocks. 

Case in point: We trimmed part of a WIX long this morning inside Market Chess Subscription Services into an opening pop higher, for discipline. The WIX chart, however, smacks of extreme accumulation, or heavy and steady buying by institutions of size, dating back several months now. This type of chart is what we look for when it comes to long setups: Price and volume working in concert for the bull case, soundly outperforming peers and indeed many leaders in 2016. 

Going forward, WIX is an intriguing business with the potential to be taken over, too. But most of all we will continue to track the progress of the volume pattern along with the potent price action for footprints of major market players backing this up-and-comer. 

Should the broad market hang in there the summer, I suspect WIX will most certainly be "on" even as risk in other names could be off.