Tomorrow is bound to be an exciting day in US markets, as the 44th President gets sworn into office. Up in our northern land, the Toronto Stock exchange fell almost 79 points, which doesn't even add up to a whole percentage move. We ran our equities through the scanner, and found selection on both sides of the opinion spectrum.

Bullish

  • Micron Technology -  This stock has been showing signs of higher highs and higher lows.  Strength in volume can be seen in the surges late in December and at the beginning of the year.  If it can break past the last high at $3.60, we're going to set our stops below the most recent lows around the $2.80 level.  At $4, we reset our stops to come out even on the entire transaction, and keep the upside target of $4.50

Support Resistance Chart: MU

  • Valero Energy - Doesn't have a whole lot of previous support or resistance around $26-27 dollars.  If the bulls can push the price over the more recent highs, they could get to $30.

Support Resistance Chart: VLO

Bearish

We're watching wide targets on the financials.  Citigroup, Bank of America, Wells Fargo and JP Morgan all have incredibly high momentum scores, and all are at or already through recent levels of support/resistance.  If you can't sit in front of your trading platform all day, you can just play with the spider.

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