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The market breadth indicators showed some negative action under the surface today, with some very strong moves like the S&P 500 Bullish Percent Index dropping -30.59% in a day, and similar moves in the NYSE Bullish Percent Index which changed both of them to Bear Confirmed status. The Nasdaq Bullish Percent Index also fell today, but by around half as much at -13.34%, which changed it's status to Bull Correction.

The watchlist scans took a turn today, with lots of failed moves. So caution is warranted here imo. Here's todays additions to the watchlist from Tuesdays scans - ATOM, DRRX, ISR, MRSN, RPAY, SSRM, UNFI, VNET

With the Biotech sector ETF breaking out to new highs today on strong volume, it unsurprising that over half of todays visual picks for watchlist stocks turned out to be in the Biotech sector.

The indexes had a strong week, after a few weeks of indecision, with the Nasdaq indexes making new weekly highs, but the majority of other indexes didn't manage to clear the previous weeks highs although they did close strongly on Friday.

More strong moves to close out the week, a few of which are at key levels going into next week.

A continuing theme of earnings gaps and numerous breakouts today. Things are feeling a bit frothy, but until there's evidence to the contrary. i.e breakouts start failing...

The broad market closed lower, but the market remains very split currently as many stocks had very strong moves today. A few are new additions to the watchlist below, but a lot were stocks that had already broken out and were continuing to move higher.

Another strong list of constructive price action, breakouts and earnings gaps today. The contrarian in me thinks that maybe it's a little bit too strong, which is making me cautious. But as long as they keep setting up and breaking out. it's when the breakouts start failing that I'll get more concerned.

A fairly large list tonight for the watchlist, with multiple stocks breaking out of consolidation patterns today.

The major US stock market indexes are once again at a potential turning point, with multiple failed breakout attempts over the last week in individual stocks and the market indexes themselves, which caused them to close slightly down on the week. But with a large wick on the upper part of the candle which is often bearish. But needs confirmation still.