Tuesday did not provide much by way of thrills, but there were no losses either, so all-in-all, I would call it a good day.

On Wednesday, we will be watching for further price deterioration on Brown & Brown, Inc. (BRO).  Tuesdayââ,¬â"¢s Fast Ball setup on increased range and volume broke both the 20 and 50 period simple moving averages. The stock looks ready for a test of early March support.

Brown & Brown Inc.

Hovnanian (HOV) looks ready to continue its recent downtrend as well.  I will look for weakness in the housing index (HGX.X) and any violation of Tuesdayââ,¬â"¢s low as a signal that a short entry may be in order.

Hovnanian Enterprises Inc

Jacobs Engineering Group (JEC) had its own Fast Ball expansion of range and volume on Tuesday, and a move lower on Wednesday could make for a nice intraday setup. We will keep the stock on the radar and pay particular attention to the NYSE OpenBook in deciding how to
time entries.

Jacobs Engineering Group

Tiffany & Co. also had a rough session. The stockââ,¬â"¢s Fast Ball pattern day has it poised for more downside on Wednesday if the retail sector (RLX.X) decides to cooperate.

Tiffany & Co.

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