The recent post-earnings post-earnings gap up action in Under Armour ($UA) and Facebook ($FB), two individual stocks showing signs of fresh leadership, is a bullish sign for the market, even if the market remains range-bound for another week or two to digest recent gains. It indicates institutions remain in buy mode, even as the broad market chops around in a range.

Guggenheim Solar ETF ($TAN) continues to show relative strength to the broad market, but has been struggling with the $28.50 level (top of the range) over the past 10 sessions. Because of this, $TAN may need to visit the lower end of the range (around $27) to shake out some of the "weak hands." This would absorb overhead supply and enable $TAN to breakout more easily. We expect the price action to hold the $26.50 - $27 level, minus a shakeout day or two, as there is also support from the rising 20-day exponential moving average:



The First Trust ISE Revere Natural Gas ETF ($FCG), which tracks a basket of natural gas stocks (not the actual commodity), hasn't done much at this year other than chop around in a tight range. However, looking at the long-term monthly chart below, we see that the current consolidation is just below the monthly downtrend line:



Notice how the price range has tightened up nicely in 2013. While $FCG is currently not an actionable setup, it is something to keep an eye on for a potential trend reversal breakout above $18. If that occurs, we will be sure to give subscribers a heads-up to a potential swing trade buy entry.

Overall, our nightly ETF scans did not produce much in the way of presently actionable swing trade setups. Our $EWJ buy stop order remains live, but the price action broke down below the 50-day MA yesterday. Hopefully $EWJ can climb back above the 50-day MA by the end of the week. Pullback buy setups in $USO and $GSG remain in play as well (Wagner Daily subscribers should note our exact buy trigger and stop prices for these setups on today's watchlist).

Deron Wagner is the Founder and Head Trader of both Morpheus Capital LP, a U.S. hedge fund, and MorpheusTrading.com, a trader education firm.