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Indicators Are Weakening, 100% CASH

|Includes: CLF, MIPS Technologies, Inc. (MIPS), NIHD, T

12/16  @ 8:50am

On Wednesday, major indexes posted losses on heavier volume - a concerning technical negative.   

The vast majority of stocks monitored in the databse are EXTENDED and in dire need of pullback to digest gains & rebuild momentum.  Numerous recent breakout stocks are not only pulling back, but are testing key support levels.  Therefore, it is extremely difficult to identify candidates meeting the CRITERIA.  Anticipate market weakness and volatility near-term...

The overall TREND is UP but appears to be tiring.  The market climate is now a "stock-pickers market".  Leadership in sectors is difficult to find and stocks meeting the criteria are almost non-exsistent out or a database of 750.   

This morning, futures are pointing to a MIXED opening. 

The TREND is UP...  (but under pressure due to EXTENDED territory & weakeningindicators).

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


Closely Monitoring:  
MIPS Tech (NASDAQ:MIPS)
AT&T (NYSE:T)
Cliffs Natural (NYSE:CLF)
NII Holdings (NASDAQ:NIHD)

ETFs: (Caution - many are becoming EXTENDED)
QQQQ, XLI, XLB, XLY, SPY, IVV, IWM, DIA, XLF


View postings on StockCharts:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1563855