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Support Areas Are Developing Head and Shoulders

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Plus: Three new stocks I'm watching.

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With the action over the last several sessions, this gap should not surprise you in the least. In fact you may look to book some gains on today's gap with existing shorts or inverse longs. It is not my strategy to chase a gap, especially one on a Monday morning.

With that being said, I'm inclined to develop and refine my list, and this morning there are three new names I'm watching. Adobe (ADBE), Coach (COH), and Cisco (CSCO) are all looking ominous with clear levels to short. Check today's video for these trade ideas in detail.

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No positions in stocks mentioned.

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