Yesterday, on an uptick in volume, the Direxion Daily Semiconductor 3x Bull ETF (SOXL) formed its second consecutive reversal candle as it held support of the 10-day MA. A volume assisted move above the two day high of $43.32 could present a buying opportunity in this ETF.

Yesterday, on a significant uptick in volume, the S&P Select Industrial SPDR Fund (XLI) formed a reversal candle as it undercut support of the 50-day MA. A move above yesterday’s high of $37.25 could present a buy entry trigger for XLI. We will be monitoring this setup closely for a possible long entry.

Since setting a swing high on March 19th, the ProShares UltraShort Lehman 20+ Bond Fund (TBT) has pulled back over the past two sessions and is nearing support of its 10-day MA. An undercut of the 10-day and/or 20-day moving averages could present a buying opportunity in TBT. We will be watching for a reversal candle to form near either of these two moving averages, as a signal for a potential pullback long entry.

Over the past three weeks the iShares MSCI All Peru Capped Index (EPU) has been consolidating in a tight range as it has set a sequence of higher lows. Yesterday, EPU formed a big reversal candle as it undercut the 20-day EMA but managed to recover and close in the upper 25% of its intraday range. A volume fueled move above the two day high of $44.88 could provide a buying opportunity in EPU. We are placing EPU on the watchlist. Trade details are provided for our subscribers in the watchlist section of the newsletter.

Over the past four sessions, the iShares MSCI Mexico Investable Market ETF (EWW) has been consolidating in a tight pennant-like formation. A move above yesterday’s high of $61.50 could provide a buying opportunity in this emerging market ETF.

Since testing its 50-day MA on March 12th, the iShares MSCI Brazil Index Fund (EWZ) has been consolidating in a pennant like formation at its 20-day EMA. A move above the seven day high of $68.30 could provide a buying opportunity in this ETF. We are adding EWZ to the watchlist. Trade details can be found in the watchlist segment of the newsletter.

Yesterday, on a massive spike in volume, the United States Oil Fund (USO) formed a bullish reversal candle, as it undercut the prior swing low and rallied to close near session highs. Via an intraday alert, we placed USO on the watchlist as a buy stop entry. Trade details can be found in the watchlist section of the newsletter.

Yesterday, the iShares Brazil Index Fund (EWZ) sold off for most of the session before recovering to close near the day’s highs. Further, the reversal occurred on high volume which adds bullish credence to the move. A rally above the four day high of $68.30 could present a buying opportunity in this ETF.

Since September of 2011, the ProShares UltraShort 20+ Year Treasury (TBT) has found support at, and has been consolidating in a tight trading range between $17.80 and $19.90. Yesterday, on a burst of volume, TBT closed above the $19.90 mark for the first time since December of last year. If TBT can clear the December 1, 2011 high of $20.15, it could present a buying opportunity. We are monitoring this setup closely for a potential long entry.

Over the past six weeks the SPDR S&P Bank ETF (KBE) has tested resistance near $22.60 on three separate occasions. Since testing support at the 50-day MA on March 6th, KBE has rallied to reclaim its 10-day and 20-day moving averages. A move above the two day high of $22.62 would be the fourth test of this key resistance level and could result in a buying opportunity in KBE.