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Stocks Pullback On Light Volume, 7 Posiitions

Stocks Pullback On Light Volume, 7 Positions

03/21 8:35am

On Tuesday, stocks posted modest losses on light volume confirming a lack of institutional selling. Numerous leading stocks are displaying RSI 70+ (above 70 is extended). However, a list of new candidates are now in basing channels and should be strong candidates when the market stages a rally. Internal indicators remain positive. The TREND remains UP. Pullbacks on light volume would be healthy to digest gains & rebuild momentum.

This morning, futures are pointing to a MIXED opening.

Focus is on stocks holding ABOVE 50 & 200dMA (meeting CRITERIA).

Selective Chartists Positions (with BUY price):
Herbailfe (NYSE:HLF) $69.25 (Buy #1)
Herbalife (HLF) $69.99 (Buy #2)

Monster Bev. (NASDAQ:MNST) $59.17
Lululemon (NASDAQ:LULU) $74.20
PNC Financial (NYSE:PNC) $63.00
Las Vegas Sands (NYSE:LVS) $59.64
Agrium (AGU) $89.00

Closely Monitoring:
Alexion (NASDAQ:ALXN)
Analog Devices (NASDAQ:ADI)
Broadcom (BRCM)
KLA-Tencor (NASDAQ:KLAC)
Taiwan Semi (NYSE:TSM)
Texas Instr. (NYSE:TXN)
Rackspace (NYSE:RAX)
Devon Energy (NYSE:DVN)
Wynn (NASDAQ:WYNN)
Tiffany (NYSE:TIF)

View the charts:
http://stockcharts.com/public/1234064/tenpp

Disclosure: I am long HLF, MNST, LULU, PNC, LVS, AGU.