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Major Indexes Form Head & Shoulders, 100% CASH

|Includes:AAPL, ALTR, Aeropostale, Inc. (ARO), NFLX, SWKS, VRX
07/02   @ 8:35am

On Thursday, major indexes closed modestly lower. Volume was heavy across the board. Economic news was mostly negative. 

Major indexes are BELOW 200dMA  & displaying negative biased / deteriorating indicators - a technical negative.  Major indexes appear to have formed a head and shoulders pattern (negative).

Current Climate is HIGH RISK / BEARISH & offers greater risk than reward.

This morning, futures are pointing to a LOWER opnening.

Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price.  Current climate is curbing purchase activity.


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


Closely Monitoring: 
Aeropostale (NYSE:ARO)
Altera (NASDAQ:ALTR)
Valeant Pharm. (NYSE:VRX)
Skyworks (NASDAQ:SWKS)
Netflix (NASDAQ:NFLX)
Apple (NASDAQ:AAPL)


ETFs:  Monitoring INVERSE ETFs
DXD
SH
QID
SDS

View postings on StockCharts:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1563855



Disclosure: No Positions
Stocks: ARO, ALTR, VRX, SWKS, NFLX, AAPL