09/01 @ 8:35am
On Tuesday, major indexes erased opening losses, but failed to hold the gains. Volume was heavier than recent previous sessions. This was the worst performing August in the past 9 years.
The market may be trying to form a market bottom. If it holds above the August lows, it will be a positive sign.
Friday's Job's Report will be a key factor for near-term direction.
Major indexes are BELOW 50 & 200dMA displaying NEGATIVE indicators.
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
Trina Solar (NYSE:TSL)
F5 Networks (NASDAQ:FFIV)
Cognizant Tech (NASDAQ:CTSH)
Aruba Ntworks (NASDAQ:ARUN)
Cliffs Natural (NYSE:CLF)
Green Mountain (NASDAQ:GMCR)
ETFs: Inverse Fuds
SDS, SH, DXD, QID
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Disclosure: No Positions, 100% CASH