From time to time Deron Wagner will get stopped out of a trade but get right back in. His decision to reenter the position will be based solely on technical analysis. Each trade stands of its own merits irrespective of when it is entered or exited.

A number of long setups are coming up in the scans, but they all look identical. Deron Wagner generally doesn't like trading setups that seem too obvious across the board. Just about the time that everyone sees the same thing is when the market exacts its biggest toll.

During pullbacks, Deron Wagner looks for ETFs that have exhibited relative strength and have formed support levels to act as a springboard for the next rally.

The market has been sending mixed signals over the past several sessions, and daily scans are providing fewer quality setups.

A gap-down or move below yesterday's lows in the Nasdaq could spell trouble for market bulls.

One technical indicator that Deron Wagner uses to assist him in gauging the strength behind a current trend is the Accumulation Distribution Price Volume indicator. Today he explains how it indicates that the strength of the current trend may be weakening.

Based on recent price action, Deron Wagner would not be surprised to see the market make one last advance prior to a substantial correction.

Although the week before New Year's is generally uneventful, Deron Wagner remains alert for trading opportunities and the potential for a market reversal.