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Anticipate Snap-Back Rally, 100% CASH

Anticipate Snap-Back Rally, 100% CASH

08/09      8:45am

 

On Monday, stocks plunged following S & P's downgrade of U.S. debt. Selling was accompanied by heavy volume (a technical negative).

Indicators are decisively negative & BEARISH. Currently, major indexes are BELOW 50 & 200dMA.

This morning, futures are pointing to a HIGHER opening

After numerous selling sessions, we anticipate a snap-back rally. However, investors may possibly use any market strength to sell positions in an effort to offset losses.



Selective Chartists Positions
(with BUY price):  NONE   100% CASH 

 

Closely Monitoring:

Cerner (NASDAQ:CERN)

Deckers (NASDAQ:DECK)

Herbalife (NYSE:HLF)

Crocs (NASDAQ:CROX)

Hansen Natural (HANS)

Priceline (PCLN)

 

 ETFs:  None

 

Inverse Funds:      

Dow 30 (NYSEARCA:DXD)      

ProShares Short Dow 30 (NYSEARCA:DOG)       

ProShares Short S&P 500 (NYSEARCA:SH)       

QQQ (NYSEARCA:QID)       

SP 500 (NYSEARCA:SDS)

 

View the charts:

Major indexes BELOW 50 & 200dMA and strongest stocks close / meeting the CRITERIA.  

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1563855