09/13 @ 8:30am
This morning, futures are pointing to a higher opening for the major indexes.
Recent gains have extended numerous stocks in the Selective Chartists database. However, there are some fresh candidates that are now close to meeting the criteria (see below). Further strength in these may prompt purchases as they emerge from a basing channel.
Major indexes are ABOVE 50dMA & challenging 200dMA. The trend is UP.
Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price.
Selective Chartists Positions (with BUY price): None 100% CASH
Strength in stocks mentioned below may prompt purchases...
Closely Monitoring: (many are extended & in need of pullback..)
Mechell Steel (NYSE:MTL)
Phillips Van Huesen (NYSE:PVH)
Cypress Semi (NASDAQ:CY)
Bristol Myers (NYSE:BMY)
Johnson & Johnson (NYSE:JNJ)
ETFs: QQQQ, XLI, XLY
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