On Monday, reports from Portugal facing increasing pressure to accept a bailout package drove stocks lower. An afternon reversal helped indexes trim losses. Volume was mixed.
Technical indicators are weakening suggesting pullbacks near-term may occur. Major indexes are displayiing RSI 70+ signaling EXTENDED & weakening MACD.
VIEW Big Picture Snapshot 01/09:
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. However, market pullbacks can curb gains / performance of the strongest stocks. EARNINGS season has begun and may add to volatility.
Selective Chartists Positions (with BUY price): 4 (subscribers only)
Teva Pharm. (NYSE:TEVA)
Aruba Networks (NASDAQ:ARUN)
Research in Motion (RIMM)
Green Mountain (NASDAQ:GMCR)
Las Vegas Sands (NYSE:LVS)
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