09/16 @ 8:30am
This morning, futures are pointing to a LOWER opening for the major indexes.
On Wednesday, stocks see-sawed ending the session with modest gains. Volume eased across the board. While the market is trending higher, numerous 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)
Fifth Third Bancorp (NASDAQ:FITB)
Goldman Sachs (NYSE:GS)
J.P. Morgan (NYSE:JPM)
Walter Ind. (NYSE:WLT)
Zions Bancorp (NASDAQ:ZION)
Johnson & Johnson (NYSE:JNJ)
ETFs: QQQQ, XLI, XLY, NDY, XLV, XLF, XLB, IBB, SPY, IVV, IWM
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Disclosure: Long: Baidu (BIDU)