Market futures are down a bit going into tomorrow as I type.

Previous support often becomes resistance and the major indexes look to be near a potential resistance point right now.  Volume on the market ETFs has also been declining (See DIA, SPY, IWM)

The market may push through this. The IWM (Russell 2000/Small Caps) has been leading the way in both directions recently and I like that it seems to have shown less declining volume than the other major index ETFs. I also like that we have stayed above the 5-period moving average line.

I feel that this market is still in no man’s land so I’m going to be cautious and see how the week opens up. Also note that we are in earnings season again. We must watch to make sure that we aren’t accidentally holding anything through earnings. Big earnings news can swing the market and make things more volatile. Netflix (NFLX) has earnings this week and the chart looks great right now but this will probably mean a significant jump in one direction or the other based on their results.

Right now, I’ve got my eye on FitBit Inc. (FIT) and Axa Equitable Holdings (EQH). Both of these stocks have had good habits recently of following the 5-period moving average lines up.

FitBit has had very good volume over the last week but the RSI is in the high 60s. I think there could be potential for a good deal here. Next resistance is ~$6.30 so it doesn’t leave much room for a 5-10% gain unless the price drops some. I’m only interested in this if I get a good deal on it.

EQH is my play if the market looks strong. I think it has potential up to ~$20. This is a financial stock so I’ll be watching XLF to see if volume looks strong and if it holds above the 5-period moving average line.