The last time we wrote about the solar group was in March of this year as the Invesco Solar ETF (TAN) emerged from a multi-year base.  That ETF and a number of the stocks in that group continue to look very good on an absolute and relative basis, and some of these stocks have high short interest.  

We have a bullish setup in FDS as the stock is emerging above a three-month downtrend with improving money flow.

Here are a couple of ideas within the software group.

We would buy this pullback.

The weekly buy signals generated last month for a number of U.S. indices remain in effect. The Russell 2000, Mid-Cap (MDY) and Dow Transports have had a strong rally, and into resistance areas that are likely to result in a pause/pullback. Long-term trends remain favorable.

I put together three pair trades within the semiconductor group.

The DXY reversed sharply when it found resistance yesterday at its regression trend channel. The Euro achieved its downside target and has generated a bullish money flow unit off the low. We also have the Yen triggering a buy today, and we would be long.

Gold bullion triggered a buy signal on the recent pullback and price held the lower end of its regression trend channel. Momentum got oversold and is now hooking up as well. We are long with a target of $1580.

We remain bullish on most of the U.S. indices with the exception of the Utilities which we believe is topping.

BIDU is just under resistance at the upper end of the regression trend channel.

TECD has weak money flow and weekly momentum. The recent throw back rally came into resistance and triggered an ellipse sell signal.

The buy triggered in recent weeks remains in effect for the S&P 500, Nasdaq Composite, Russell 2000, Mid-Cap MDY and the Dow Transports.

Two buy ideas in the Transport group - JBHT & UPS

AMGN has consolidated over the last two weeks and is now breaking the downtrend off the recent high.

Please see attached report with charts and commentary.