Last week was the week of the entry. Price patterns were tight and the action was very selective, but if you timed stocks correctly you made a lot of money. It was Rocky vs Drago as the resilient market held in and resolved the wedge to the upside amid negative news, and now we find ourself a stone's throw away from highs. Still, we are extremely overbought in the short term and it may be tricky to enter longs aggressively early this week. The first resistance over the next few weeks, after we work off some of this oversold conditions, will be those previous highs. Stay tuned for the action this week.