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Selective Chartists
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Selective Chartists identifies stocks that meet the CRITERIA. These stocks appear poised for higher levels in the near-term, as indicators are positive & strengthening. Regimented buy / sell rules is KEY... CRITERIA: Focus on 50 top-rated growth stocks ranked by Investors Business Daily... More
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Selective Chartists
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The ART Of The CHART - Knowing When and Why To Buy & Sell Stocks
  • Major Indexes Form Head & Shoulders, 100% CASH 1 comment
    Jul 2, 2010 8:47 AM | about stocks: ARO, ALTR, VRX, SWKS, NFLX, AAPL
    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 (ARO)
    Altera (ALTR)
    Valeant Pharm. (VRX)
    Skyworks (SWKS)
    Netflix (NFLX)
    Apple (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
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    If I take a look at 1998 July through the end of the year one sees a head and shoulders on S&P with subsequent great run up.
    7 Jul 2010, 01:19 PM Reply Like
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