07/21 @ 8:50am
On Tuesday, major indexes erased losses to close near session highs. Volume rose across the board. After the close, Apple (NASDAQ:AAPL) smashed analyst views and is up significantly in pre-market trading. Apple's good news is setting the stage for a HIGHER opening this morning.
Major indexes are BELOW the 50 & 200dMAs and are displaying a negative crossover. RSI is testing the 50-centerline and MACD is signaling CAUTION.
Although the rally was a positive development, numerous leading stocks are displaying negative chart patterns. It will take further strength to produce candidates for purchase considerations.
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 few candidates currently close to meeting the CRITERIA.
Selective Chartists Positions (with BUY price): NONE 100% CASH
American Tower (NYSE:AMT)
Network Appliance (NASDAQ:NTAP)
Baidu (NASDAQ:BIDU) - FYI: Earnings after today's close (CAUTION)
F5 Networks (NASDAQ:FFIV)
Cirrus Logic (NASDAQ:CRUS)
Cognizant Tech (NASDAQ:CTSH)
View postings on StockCharts:
Disclosure: No Positions