On Monday, major indexes hit multi-year highs closing the session with fractional gains. Volume fell sharply and imposes the concern that institutional sponsorship is tiring. Numerous leading stocks are displaying RSI 70+ (above 70 is extended). The TREND remains UP. Pullbacks on light volume would be healthy to digest gains & rebuild momentum.
This morning, futures are pointing to a Lower opening.
Focus is on stocks holding ABOVE 50 & 200dMA (meeting CRITERIA).
Analog Devices (NASDAQ:ADI)
Taiwan Semi (NYSE:TSM)
Texas Instr. (NASDAQ:TXN)
Devon Energy (NYSE:DVN)
View the charts: