Support Bounce

The market provided a classic support bounce after the alleged bad news. It's that "zag" we wrote about in our earlier post today. The idices do seem to be pulling back about 30 minutes minute before the close. Four stocks from the watchlist have caught our attention. DRYS is having a support bounce with a bullish engulfing pattern and is just below its 30 DMA. CELG has been in a horizontal bull flag for the past 5 days is breaking out with a new high. Earnings July 23. BRCM is at a breakout point from a sideways trading range. Earning July 22. IBM is breaking through its 30 DMA with a bullish engulfing. The only drawback here is earnings in two days July 17. See you after the close with a recap of today's drop, bounce and pullback.