On Tuesday, stocks retreated after mostly disappointing economic news. A concern among market technicians is that volume rose across the board. Ideally, we want to see light volume on pullbacks. Will need to closely monitor market action & volume over the next few days. After numerous sessions of gains, anticipate backing & filling. Numerous leading stocks are extended. Pullbacks to digest gains & rebuild momentum would be healthy.
The TREND remains to be UP....
This morning, futures are pointing to a HIGHER opening.
Focus is on stocks close to / meeting the CRITERIA:
Selective Chartists Positions (with BUY price): NONE 100% Cash
LDK Solar (NYSE:LDK)
Walter Ind. (NYSE:WLT)
Arch Coal (ACI)
Peabody Energy (NYSE:BTU)
US Steel (NYSE:X)
View the charts: