Market Preview (12/10/2012-12/14/2012) and Watch List

President Obama and House Speaker Boehner resumed budget talks today by having a face-to-face meeting. This upcoming week could serve as a pivotal week as both parties create urgency to set something up before Christmas arrives.

The technicals in the market purely show a bull rally in play for the upcoming week or so but we still have to keep on eye on the news from Washington. Fed Chairman is scheduled to speak in a conference this Wednesday so keep an eye on that.

The SP500 is still on the 50 DMA and it looks like it can go to the next resistance level at 1435.

WATCH LIST FOR TOMORROW

EGHT - nice pattern forming here, looking for the breakout

HNSN - flagging right under the 200 DMA, looking for the breakout

NOK - flag break

REDF - flagging under the 50 DMA ready to go if it breaksVG - long setup

VG - long setup

Good luck tomorrow!