On Tuesday, stocks reversed to post modest gains. Volume rose.
Major indexes are RSI 70+ signaling EXTENDED. See Big Picture Snapshot 01/16
Of the 750 stocks monitored in the database, it is extremely difficult to find candidates that are close to / meeting the CRITERIA. Pullbacks would be healthy for stocks to digest gains & rebuild momentum.
This morning, futures are pointing to a LOWER opening.
Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price. However, market pullbacks can curb gains / performance of the strongest stocks.
Selective Chartists Positions (with BUY price): None 100% CASH
Lam Research (NASDAQ:LRCX)
Westernn Digital (NYSE:WDC)
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