As I have mentioned several times, putting the odds in your favor is imperative, especially in a range-bound market. My experience has shown that having several stocks with similar trending patterns in a trending industry group help shift the odds in my direction.

As you can see, the Farm/Construction Machinery industry has been trending up since November.   

Farm/Construction Machinery

Manitowoc Company (MTW) has been in a very strong uptrend this year, even with the market going nowhere. The institution sponsorship in the entire group is strong. Also, I have noticed that MTW has found buyers at every pullback. So if on Monday the highs of Friday are taken out, this signals that a continuation of buying will probably continue.

Manitowoc Company

I also wanted to show you a couple more charts in the Farm/Construction Machinery group. Notice that they are also in a strong uptrend.

Joy Global

Terex Corp.

There are a couple things that concern me with the market presently. Experience shows that if a market canââ,¬â"¢t go up, guess what?  Also, the bond market has been under attack lately and has broken support. If rates continue to go higher, it may start affecting the equities. Be careful and use your stops to protect your profits and principle.

Disclaimer
The article submitted to the Tiger Shark Publishing LLC is presented for informational purposes only and should not be construed as a solicitation to buy or sell securities or securities derivatives of any kind, nor serve as any type of investment advice or strategies. Actual results may differ greatly from expressed opinion. The author expresses a personal opinion and will not assume any responsibilities of the action of the reader.

Tom Incorvia is a swing trader with 18 years of experience in the financial markets.  E-mail him at tincorvia@gmail.com.