02/10 8:45am
RSI indicator for major indexes is 70 + suggesting EXTENDED / Overbought & Momentum (MACD) is weakening. Numerous leading stocks are displaying mixed indiators suggesting we may be ready for a pullback. Pullbacks on LIGHT volume would be healthy to digest gains & rebuild momentum. Be sure to employ stop-loss limits (Max. 7% from buy price which should be 5% within pivot point).
This morning, futures are pointing to a LOWER opening.
Focus is on stocks holding ABOVE 50 & 200dMA (meeting CRITERIA).
Selective Chartists Positions (with BUY price):
BioMarin Pharm (BMRN) $37.28 (Buy #1)
BioMarin Pharm (BMRN) $37.68 (Buy #2)
Jazz Pharm (JAZZ) $49.90 (Buy #1)
Jazz Pharm (JAZZ) $50.10 (Buy #2)
Jazz Pharm (JAZZ) $50.81 (Buy #3)
Apple (AAPL) $492.00
Citirix (CTXS) $71.02
Whole Foods (WFM)$79.82
Closely Monitoring:
NVDIA (NVDA)
Hartford Financial (HIG)
Allergan (AGN)
United Tech (UTX)
McDonalds (MCD)
Nordstrom (JWN)
American Express (AXP)
KB Home (KBH)
Pulte (PHM)
Altera (ALTR)
Micron (MU)
Apache (APA)
Stone Energy (SGY)
Advanced Auto Parts (AAP)
Salesforce (CRM)
Acme Packet (APKT) speculative (may be a turnaround - does NOT meet criteria)
ETFs: IWM, SMH, XHB, XLE, XLI, XLF
View the charts:
ttp://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1563855