Breakouts near 52 week high and on extended stock are failing rapidly.
Look for sector rotation themes and new (not extended) breakout.
What we are witnessing is slow correction in to extended stocks and sector rotation in to new set of stocks.
Money was flowing in to financials, retail. Earnings lead breakouts were another hot trend.
There are still buy opportunities in the market:
GS: Goldman Sachs
ZNGA: Zynga Inc.