07/20 @ 8:50am
On Monday, major indexes closed in positive territory after a see-saw session and another weak housing report. Volume fell across the board.
Major indexes are BELOW the 50 & 200dMAs and are displaying a negative crossover. Lower levels are anticipated near-term. There is no sector leadership, indicators are negative and numerous leading stocks are breaking below support levels.
After the close, IBM (IBM) released earnings and were below analysts expectations. The miss will weigh on today's session.
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. Of the 750 stocks monitored in the database, there are no candidates currently meeting the CRITERIA.
Selective Chartists Positions (with BUY price): NONE 100% CASH
Closely Monitoring:
EMC (EMC)
Network Appliance (NTAP)
Netflix (NFLX)
Salesforce (CRM)
F5 Networks (FFIV)
Cree (CREE)
Caterpillar (CAT)
Novellus (NVLS)
Intel (INTC)
Cognizant Tech (CTSH)
Cummins (CMI)
Disclosure: No Positions
On Monday, major indexes closed in positive territory after a see-saw session and another weak housing report. Volume fell across the board.
Major indexes are BELOW the 50 & 200dMAs and are displaying a negative crossover. Lower levels are anticipated near-term. There is no sector leadership, indicators are negative and numerous leading stocks are breaking below support levels.
After the close, IBM (IBM) released earnings and were below analysts expectations. The miss will weigh on today's session.
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. Of the 750 stocks monitored in the database, there are no candidates currently meeting the CRITERIA.
Selective Chartists Positions (with BUY price): NONE 100% CASH
Closely Monitoring:
EMC (EMC)
Network Appliance (NTAP)
Netflix (NFLX)
Salesforce (CRM)
F5 Networks (FFIV)
Cree (CREE)
Caterpillar (CAT)
Novellus (NVLS)
Intel (INTC)
Cognizant Tech (CTSH)
Cummins (CMI)
ETFs: None
View postings on StockCharts:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1563855
Disclosure: No Positions