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
Hansen Natural (HANS)
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 strongest stocks close / meeting the CRITERIA.