Here’s a potential trade that offers lots of promise, but is ST/OB so not suitable for next week’s Spike pick. SYT is all about long bases and moves within the Bollinger Bands. After hitting a yearly high around 51 in January, SYT has been grinding sideways, oscillating back and forth between the bands. Note on the weekly chart that all this sideways stuff is along the 50% Fib retracement from the 2008 high to the 2008 low. Now on the daily, the squeeze is in play and SYT has touched the upper band signaling it is ready to move. I’m inclined to wait for some sort of retracement–maybe 1-3 days–to the rising EMA before buying. Eventually, we should get a nice rise out of this long base and lots of chances to trade it back and forth from the rising EMA to the upper bands.