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HIGH CAUTION - Technical Indicators Weakening, 2 Positions

May 17, 2011 8:48 AM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.


05/17   8:30am 

On Monday, stocks slumped on weak economic data.  Volume rose (a technical negative).

Major indexes are close to testing the 50dMA. RSI and MACD are weakening. Trade below 50dMA may trigger institutional selling. The climate is HIGH CAUTION.   

Numerous leading stocks remain EXTENDED while others are testing or breaking support levels.

Focus is on stocks emerging from bases & above 50dMA.

This morning, futures are pointing to a MIXED opening.

Selective Chartists Positions (with BUY price):     2 (subscribers only)

Closely Monitoring: 
Symantec (SYMC)
VeriSign (VRSN)
Network Appliance (NTAP)
Novellus (NVLS)
Riverbed Tech (RVBD)
Ilumina (ILMN)
Polypore (PPO)
Tyco (TYC)

View the charts of major indexes close to 50dMA



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