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Our research draws its market bias from a combo of Fundamental and Technical evidence. Economic and earning trends are matched against our analysis of price and volume charts, giving us an indication of how friendly or unfriendly the market is behaving. The goal is to identify top growth stocks... More
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  • Not Completely Tilted 0 comments
    May 24, 2010 5:24 PM | about stocks: CPB, MO, HSH, KHC, DIA, SPY, QQQ

    Monday's light-volume selling tells us little at this juncture.

    Our Sell Bias remains intact as we continue to be on alert for a bounce as the major indexes flirt with key levels.

    We're going to consider Friday's low pivotal until taken out. What the Bulls really want to see now is a high-volume rally with at least one of the major indexes up about 2%.

    We've been bearish for weeks as Distribution Days, technical breakdowns from key sectors and genuine concern over Europe's situation have all given consistent red flags.

    The longer this theme endures, the more we look for evidence it will ease or end.

    While the majority of S&P 100 stocks continue to trade in breakdown mode, there's a good number in key support areas with potential to trigger a broad market bounce.

    Add relative strength leadership from the likes of Campbell Soup (NYSE:CPB), Heinz (HNZ), Altria (NYSE:MO) and Sara Lee (SLE) and it's not all completely tilted out there.

    As for our beloved Growth Stocks, they're still poised and ready to breakout from sound technical bases.

    But as long as the dominant selling environment persists we're not expecting much on this front. Should we enter a longer-term correction, these Growth Stocks too will succumb to a deterioration of their technical picture - but we're not there yet.

    Stay tuned,


    Disclosure: Short CRK
    Stocks: CPB, MO, HSH, KHC, DIA, SPY, QQQ
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