The Good News...

The last few sessions, especially after Thursday morning's initial pop, have pretty much gone as we had expected them to inside Market Chess Subscription Services. Our game plan was to take profits into Thursday morning's strength and then to exercise patience until new setups emerged and, perhaps, any very near-term froth and/or end of quarter profit-taking had run its course. To be sure, we still may have a bit more of that to work through. 

However, despite notable weakness in small caps and smaller cap bios today we still have quite a few stocks and sectors holding up and acting well.

Moreover, some of the extreme relative strength names we highlighted in a video for you last week may finally be presenting lower risk entry points. 

Under Armour is one such name, finally dipping to tag its 20-day simple moving average, the orange line on UAA's udpated daily chart, below. If bulls can present themselves to adequately hold the 20-day area this week, then the strong technical improvement the stock has seen this year very likely continues into the heart of summer.