Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Stocks Set To Slide, 100% CASH

|Includes: CAT, CMI, CREE, CRM, CTSH, Dell Technologies Inc. (DVMT), FFIV, INTC, NFLX, NTAP, NVLS-OLD
07/20   @ 8:50am

On Monday, major indexes closed in positive territory after a see-saw session and another weak housing report. Volume fell across the board.

Major indexes are BELOW the 50 & 200dMAs and are displaying a negative crossover.  Lower levels are anticipated near-term.  There is no sector leadership, indicators are negative and numerous leading stocks are breaking below support levels. 

After the close, IBM (NYSE:IBM) released earnings and were below analysts expectations. The miss will weigh on today's session.

This morning, futures are pointing to a LOWER opening.

Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price.  Of the 750 stocks monitored in the database, there are no candidates currently meeting the CRITERIA.

Selective Chartists Positions (with BUY price):  NONE   100% CASH

Closely Monitoring: 
Network Appliance (NASDAQ:NTAP)
Salesforce (NYSE:CRM)
F5 Networks (NASDAQ:FFIV)
Caterpillar (NYSE:CAT)
Novellus (NVLS)
Cognizant Tech (NASDAQ:CTSH)
Cummins (NYSE:CMI)

ETFs:  None

View postings on StockCharts:

Disclosure: No Positions