09/15 @ 8:30am
This morning, futures are pointing to a LOWER opening for the major indexes.
On Tuesday, stocks closed mixed on mixed volume. While the market is trending higher, numeorus leading stocks are EXTENDED from proper buy points. Many are still basing and are being closely monitored.
Major indexes are ABOVE 50dMA & 200dMA. The trend is UP. However, near-term pullbacks are anticipated to digest recent gains & rebuild momentum.
Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price.
Selective Chartists Positions (with BUY price): 1 (subscribers only)
Closely Monitoring: (many are extended & in need of pullback..)
Newmont Mining (NYSE:NEM)
Banco Bradesco (NYSE:BBD)
Fifth Third Bancorp (NASDAQ:FITB)
Goldman Sachs (NYSE:GS)
J.P. Morgan (NYSE:JPM)
Walter Ind. (NYSE:WLT)
Zions Bancorp (NASDAQ:ZION)
Mechell Steel (NYSE:MTL)
Johnson & Johnson (NYSE:JNJ)
ETFs: QQQQ, XLI, XLY, NDY, XLV, XLF, XLB, IBB, SPY, IVV
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Disclosure: Long BIDU