12/09 @ 8:30am
On Wednesday, major indexes rose on lighter volume. Although the major indexes have been posting modest gains in recent sessions, the light volume is concerning to market technicians. Ideally, we want to see heavy volume on rallies. Numerous leading stocks are in extended territory suggesting a pullback may be healhy for the market to digest gains and rebuild momentum.
This morning's positive Jobles Claims Report was upbeat and is initiating futures to be higher in pre-market activity.
This morning, futures are pointing to a HIGHER opening.
The TREND is UP... (but light volume rallies is concerning)
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)
Green Mtn Coffee (NASDAQ:GMCR)
United Health (NYSE:UNH)
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