On Thursday, stocks see-sawed through the session and ending closing lower. A technical negative for technicians is that volume rose confirming institutional selling. Major indexes have been finding difficulty in penetrating overhead resistance levels.
Major indexes are once again testing the 50 & 200dMA crossover. trade below the crossover could trigger institutional selling.
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.
Selective Chartists Positions (with BUY price): 1 (subscribers only)
Las Vegas Sands (NYSE:LVS)
Cliffs Natural (NYSE:CLF)
Family Dollar (NYSE:FDO)
View postings on StockCharts:
Disclosure: 1 Position (subscribers only)