Fridayââ,¬â"¢s market action saw the indices make a broad move lower. On a monthly time frame, the charts all appear north bound, but the disconnect on the weekly charts continues to suggest a lack of correlation between instruments. The Dow Jones Industrial Average and the S&P 500 made moves lower, while the Nasdaq 100 and Nasdaq Composite both scored gains. I am once again led to believe that the volatility will continue.

The Friday Stocks to Watch selections made some early moves, but they proved difficult, if not impossible, to catch for profits. Our Intraday Trading Plan subscribers saw an Around The Horn Backdoor Slider setup in Rockwell Collins (COL) trigger and move to the profit target immediately after the opening bell. Catching an early move like this requires discipline and fast thinking. A poorly timed trip to the coffee machine or the menââ,¬â"¢s room can be quite costly when trades take off right after the open.  

An Infield Fly in Cimarex Energy presented much the same scenario. The stock triggered in the first five minutes of trading and never looked back.  A trip to the initial profit target at 43.12 happened in the first 50 minutes and provided no opportunity for regrets along the way.

On Monday, I will be watching the Fast Ball setup in Dominion Resources (D). Although the volume on Fridayââ,¬â"¢s move was not particularly impressive, the stock is set up in multiple time frames (daily, weekly and monthly), indicating that the weakness may be more than a passing fad.

Dominion Resources

DTE Energy Co (DTE) has also presented a Fast Ball short setup. Julie and I will watch this one for a creak of the Friday low, bearing in mind that the stock does have some monthly support around 39.70. A reversal around that support will probably see us covering any short position in the stock.

DTE Energy CO

Carmax Inc. (KMX) looks ready to extend Fridayââ,¬â"¢s Fast Ball short sale gains with a possible move lower to recent support at 31.70, which happens to coincide perfectly with the 50 period simple moving average at 31.68, which also happens to be a 1.382 Fibonacci retracement extension.   Did I mention I love confluence?

Carmax Inc.

Omnicare (OCR) is now a Backdoor Slider and looks ready for a move lower. I will be watching this one for any sigh of weakness on Monday.

Omnicare Inc

Adrian Manz is the author of Around The Horn: A Trader's Guide To Consistently Scoring In The Markets and is cofounder of TraderInsight.com. Email him at adrian@traderinsight.com.