On Tuesday, stocks staged a broad based decline on heavy volume. Major indexes have formed and completed a "head and shoulders" pattern that is decisively negative. The weakness in the market propelled major indexes to fall BELOW the 200dMA, suggesting lower levels lie ahead. Indicators are NEGATIVE.
We are in a corrective phase with anticipation of lower levels near-term.
This morning, futures are pointing to a modestly HIGHER opening. After numerous decliining sessions, a snap-back rally appears ready to occur but will most likley lack sustainability.
At this time, very few stocks are close to / meeting the CRITERIA.
Selective Chartists Positions (with BUY price):
Cerner (NASDAQ:CERN) $67.00
Deckers (NASDAQ:DECK) $102.69 (Buy #1)
Deckers (DECK) $104.9 (Buy #2)
|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 50 & 200dMA and leading stocks close / meeting the CRITERIA.