A 5% correction

Market had a 5% correction from  recent high on intraday basis. That resulted in aggressive pullback buying on Friday. If the market builds on the bounce then the move will continue.

During this brief correction, most momentum stocks held up well and many had orderly low volume p[pullback. Now they have started to breakout. Most stocks with momentum are not much dented by this correction, that is good sign.

Top 30 ranked stock by momentum

1. las
2. vrml
3. vnda
4. clvs
5. yrcw
6. clsn
7. plus
8. csiq
9. tsla
10. mnkd
11. htch
12. zlc
13. aegr
14. lpth
15. clnt
16. husa
17. scty
18. bldp
19. sune
20. dang
21. insm
22. mvis
23. nsph
24. hsol
25. tmus
26. immu
27. tear
28. ostk
29. acrx
30. tsro

OSTK is one good setup. It has gone sideways for a month in orderly manner. It also had series of recent earnings surprises. If it breaks out from here on high volume , it can make 20 to 30% move. 

If you look at the top ranked 30 stocks by longer term momentum of year plus then you will see lot more good setups in them. The stocks with longer term momentum did not correct much during this correction. Most went sideways.

Top 30 ranked stocks by one year momentum

1. rvlt
2. acad
3. srpt
4. mtg
5. ecty
6. cbk
7. rsol
8. clvs
9. vips
10. las
11. aegr
12. clwr
13. spwr
14. rdn
15. sune
16. htch
17. pamt
18. nsxt
19. kerx
20. himx
21. evc
22. jks
23. tvl
24. bont
25. amri
26. insm
27. mnkd
28. csiq
29. gmcr
30. ostk

In this list rvlt, mtg, spwr, rdn, htch, nxst, kerx, himx, evc, amri, gmcr, and ostk are some good setups to watch for possible breakout.