On Tuesday, I will be watching Alcan Inc (AL) for a continuation of its Fast Ball move. The stock traded lower on heavy on Monday as Citigroup lowered AL ââ,¬â"¢s target to $48 citing a peak in demand for aluminum and a potential surplus in aluminum inventories.
Utility stock Dominion Resources (D) left a Fast Ball sell signal on Monday as well. We will look for signs of follow through on Tuesday.
Dickââ,¬â"¢s Sporting Goods (DKS) and Darden Restaurants participated in the retail rally on Monday, leaving long entry Fast Ball setups on good volume going into Tuesdayââ,¬â"¢s session.
Alcan Inc

Dominion Resources

Dickââ,¬â"¢s Sporting Goods

Darden Restaurants

Meanwhile, commodities took a beating, leaving Freeport-Mcmoran Copper & Gold in a heavy volume Fast Ball break below the 20- and 50-period simple moving averages.
Freeport-Mcmoran Copper & Gold

Steel producer Nucor Corp (NUE) was also driven lower by the basic materials selloff. The stock left a high volume Fast Ball and looks to be headed lower on Tuesday.
Nucor Corp

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