Selective Chart...'s  Instablog

Stocks May Attempt Snap-back Rally, 100% CASH

05/10 9:00am

On Wednesday, stocks opened in negative territory and remained there through the session closing off session lows. Volume was mixed. Eurozone worries continue to pressure global markets. The major indexes are oversold. Anticipate a snap-back rally near-term.

Major indexes are BELOW 50dMA and indicators are NEGATIVE. Further weakness near-term is anticipated and the climate is HIGH CAUTION.

This morning, futures are pointing to a HIGHER opening.

Focus on stocks meeting the CRITERIA.

Selective Chartists Positions (with BUY price): NONE 100% CASH

Closely Monitoring:
Cerner (CERN)
Apple (AAPL)
Amgen (AMGN)
Walt Disney (DIS)
Lululemon (LULU)
Nike (NKE)
CVS (CVS)
Dollar General (DG)
Ross Stores (ROST)
Tractor Supply (TSCO)
GNC Holdings (GNC)

View the charts:
http://stockcharts.com/public/1234064/tenpp
TNA is Bull 3x shares
S&P 500 SPDRs (SPY)
ProShares Ultra S&P 500 (SSO)

Inverse Funds
Dow 30 (DXD)
ProShares Short S&P 500 (SH)
ProShares Ultra Short S&P 500 (SDS)
ProShares Ultra Short QQQ (QID)
Direxion Daily Small Cap Bear 3x shares (TZA)

Note: BULL Funds