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Anticipate Snap-Back Rally, 2 Positions

|Includes: Perrigo Company (PRGO), WYNN
Anticipate Snap-Back Rally, 2 Positions

09/07      8:45am 


On Tuesday, stocks gapped down on a broad based sell-off triggered by European debt concerns. In the afternoon, stocks pared losses to  close well above the lows of the session. Volume climbed on both exchanges.

After recent selling sessions, a snap-back rally is anticipated.

This morning, futures are displaying a HIGHER opening.   


Currently, major indexes are BELOW 50 & 200dMA

Indicators are NEGATIVE suggesting lower levels may lie ahead near-term.


Climate is HIGH RISK....

 

Selective Chartists Positions (with BUY price):

Wynn Resorts (NASDAQ:WYNN) $144.69

Perrigo (NASDAQ:PRGO) $97.10

 

Closely Monitoring:

NetEase (NASDAQ:NTES)

Sina (NASDAQ:SINA)

Cerner (NASDAQ:CERN)

Hansen (HANS)

Dollar tree (NASDAQ:DLTR)

Deere (NYSE:DE)

Las Vegas Sands (NYSE:LVS)

Mosaic (NYSE:MOS)

Potash  (NYSE:POT)

Amazon (NASDAQ:AMZN)

Lululemon (NASDAQ:LULU)

Under Armour (NYSE:UA)

Baidu (NYSE:BID)



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 testing key support levels and strongest stocks close / meeting the CRITERIA. 

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