On Wednesday, stocks rose early, sold-off, then rallied to finish with modest gains. Volume rose across the board. The reversal in the see-saw session was encouraging for the bulls. Numerous leading stocks are setting bases and may be poised for breakouts on the market's next move higher. However, major indexes remain BELOW 50 & 200dMA and indicators are mixed.
The Job's Report will be released on Friday 8:30am EST and will most likely add to volatility.
The climate is HIGH CAUTION.
This morning, futures are pointing to a MIXED opening.
Focus on stocks holding ABOVE the 50dMA and close to the pivot point (ideal buy price).
Selective Chartists Positions (with BUY price):
Las Vegs Sands (NYSE:LVS)
Under Arnmour (NYSE:UA)
Johnson & Johnson (NYSE:JNJ)