Favorable Job's Report May Ignite Rally
On Thursday, stocks sank to the lowest levels in more than 8 months. Volume rose across the board.
Major indexes have formed and completed a "head and shoulders" pattern that is decisively negative. Major indexes are BELOW the 200dMA,. Indicators are NEGATIVE.
We are in a corrective phase with anticipation of lower levels near-term.
At this time, very few stocks are close to / meeting the CRITERIA.
The July Jobs Report released this morning was FAVORABLE and is prompting futures to suggest a HIGHER opening.
Selective Chartists Positions (with BUY price):
Cerner (NASDAQ:CERN) $67.00
Deckers (NASDAQ:DECK) $102.69 (Buy #1)
Deckers (DECK) $104.99 (Buy #2)
Herbalife (NYSE:HLF) $59.57 (Buy #1)
Herbalife (HLF) $60.64 (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.