12/21 @ 8:30am
This morning, futures are pointing too a HIGHER opening:
The vast majority of stocks monitored in the databse are EXTENDED and in dire need of pullback to digest gains & rebuild momentum. Numerous recent breakout stocks are not only pulling back, but are testing key support levels. Therefore, it is extremely difficult to identify candidates meeting the CRITERIA.
The overall TREND is UP but appears to be tiring. The market climate is now a "stock-pickers market". Leadership in sectors is difficult to find and stocks meeting the criteria are almost non-exsistent out or a database of 750.
Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price.
Selective Chartists Positions (with BUY price): 5 (subscribers only)
China Unicom (NYSE:CHU)
Crown Castle (NYSE:CCI)
Las Vegas Sands (NYSE:LVS)
Wynn Resorts (NASDAQ:WYNN)
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