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:
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
Cliffs Natural (NYSE:CLF)
Teva Pharm. (NYSE:TEVA)
Aruba Networks (NASDAQ:ARUN)
Research in Motion (RIMM)
Green Mountain (NASDAQ:GMCR)
Las Vegas Sands (NYSE:LVS)
View postings on StockCharts: