08/26 @ 8:50am
On Wednesday, stocks reversed to close positive snapping a 4-day decline. Volume eased from previous session.
Major indexes are BELOW 50 & 200dMA displaying NEGATIVE indicators.
This morning, futures are pointing to a HIGHER opening, sparked by a better than anticipated Jobless Claims Report.
Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price. At this time, of the 750 stocks monitored in the database, very few are close to meeting the CRITERIA. The current negative sentiment is curbing any aggressive purchases.
Selective Chartists Positions (with BUY price): NONE 100% CASH
Gartner Group (NYSE:IT)
F5 Networks (NASDAQ:FFIV)
Cognizant Tech (NASDAQ:CTSH)
ETFs: Inverse Fuds
SDS, SH, DXD, QID
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Disclosure: No Positions 100% CASH