IBD sees market uptrend under pressure and says the put/call ratio reached 1.13 on Tuesday. This is possible bounce area. The QQQ short term trend could turn down with another weak day on Wednesday. Thus far, this decline has been mild. Check out this GMMA chart of the QQQ. (Click on chart to enlarge.)
Four stocks with good fundamentals hit new highs on Tuesday: UTHR, AMAG, MDVN, SWKS. All have RWB patterns. Could these be future leaders? One example, UTHR. Note the green line break-out.
Can’t have a much more consistent RWB chart than SWKS:
I’ll leave the other two to your imagination.