10/27 @ 8:40am
On Tuesday, major indexes finished fractionally higher. A handful of earnings wins and mildly better than expected economic data supported a midday rally on lower volume.
Major indexes are trading at overhead resistance levels.
The vast majority of leading stocks are EXTENDED. Candidates meeting the criteria are evolving but it is now a "stock pickers market".
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): 3 (subscribers only)
US Bancorp (NYSE:USB)
TJ Max (NYSE:TJX)
Goldman Sachs (NYSE:GS)
F5 Networks (NASDAQ:FFIV)
ETFs: XLB, SMH
View postings on StockCharts:
Disclosure: Long: 3 positions (subscribers only)