A scan of highly liquid stocks, foreign market funds and commodity funds turned up no -- as in zero -- new breakouts beyond the 55-day price channel. My rules exclude stocks that are within a month of earnings. The scan of stocks on the CBOE penny-increment options list went down to a daily volume of around 3 million, running from C at the top to AMZN at the bottom.
Federal Reserve Chairman Ben Bernanke is scheduled to hold a news conference on Wednesday after a two-day monetary policy meeting. It is the first time any Fed chairman has done such an event, and the U.S. markets -- no, the world's, and maybe several extraterrestrial exchanges as well -- are all holding their collective breath waiting for the great man to speak.