11/02 @ 8:25am
On Monday, stocks gained significantly in morning trading but reversed to close with mixed results. Volume fell on both exchanges.
Major indexes are trading at overhead resistance levels. The vast majority of leading stocks are EXTENDED. Major indexes are displaying weakening RSI & MACD suggesting pullbacks may occur near-term. Of the 750 stocks monitored in the database, very few are close to / meeting the critieria.
This morning, futures are pointing to a HIGHER 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): None: 100% CASH
US Bancorp (NYSE:USB)
TJ Max (NYSE:TJX)
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Disclosure: 100% CASH