RSI indicator for major indexes is 70 + suggesting EXTENDED / Overbought & Momentum (MACD) is weakening. Numerous leading stocks are displaying mixed indiators suggesting we may be ready for a pullback. Pullbacks on LIGHT volume would be healthy to digest gains & rebuild momentum. Be sure to employ stop-loss limits (Max. 7% from buy price which should be 5% within pivot point).
This morning, futures are pointing to a LOWER opening.
Focus is on stocks holding ABOVE 50 & 200dMA (meeting CRITERIA).
Selective Chartists Positions (with BUY price):
Hartford Financial (NYSE:HIG)
United Tech (NYSE:UTX)
American Express (NYSE:AXP)
KB Home (NYSE:KBH)
Stone Energy (NYSE:SGY)
Advanced Auto Parts (NYSE:AAP)
Acme Packet (NASDAQ:APKT) speculative (may be a turnaround - does NOT meet criteria)
ETFs: IWM, SMH, XHB, XLE, XLI, XLF
View the charts: