On Monday, optimism over a debt deal was outweighed by pessimism due to a weak manufacturiing report. Volume fell across the board. The intra-day reversal from a 100+ point gain in the morning to close at a loss was disappointing as the reversal is a strong technnical negative.
Major indexes are testing the 200dMA. Further weakness may cause the indexs to penetrate below the benchmark and ignite institutional selling.
Indicators are negative biased and many market leaders have broken below support.
We are in a corrective phase with anticipation of lower levels near-term.
This morning, futures are pointing to a LOWER opening.
At this time, very few stocks are close to / meeting the CRITERIA.
Selective Chartists Positions (with BUY price):
Cerner (NASDAQ:CERN) $67.00
Las Vegas Sands (NYSE:LVS)
CF Ind (NYSE:CF)
|Dow 30 (NYSEARCA:DXD)|
|ProShares Short Dow 30 (NYSEARCA:DOG)|
|ProShares Short S&P 500 (NYSEARCA:SH)|
|SP 500 (NYSEARCA:SDS)|
View the charts:
Major indexes BELOW 50dMA and leading stocks close / meeting the CRITERIA.