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Stocks Remain In Uptrend But EXTENDED


01/13   8:45am

On Wednesday, stocks continued to march higher closing at multiyear highs. Volume was mixed.

Major indexes are RSI 70+ signaling EXTENDED.

Of the 750 stocks monitored in the database, it is extremely difficult to find candidates that are not extended.  

VIEW Big Picture Snapshot 01/09:
http://www.selectivechartists.com/index.php?option=content&task=view&id=2417&Itemid=50


This morning, futures are pointing to a MIXED 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):   None  100% CASH


Closely Monitoring:  Note: many of these are extended and need pullback
Lululemon (NASDAQ:LULU)
Mosaic (NYSE:MOS)
Cliffs Natural (NYSE:CLF)
Salesforce (NYSE:CRM)
Teva Pharm. (NYSE:TEVA)
Aetna (NYSE:AET)
Wellpoiint (WLP)
Aruba Networks (NASDAQ:ARUN)
Broadcom (BRCM)
Research in Motion (RIMM)
Green Mountain (NASDAQ:GMCR)
Las Vegas Sands (NYSE:LVS)
SunPower (SPWRA)
Netflix (NASDAQ:NFLX)

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