09/21 @ 8:10am
On Monday, stocks rallied and major indexes closed near session highs. The major indexes staged a BREAKOUT above recent overhead resistance levels. Volume was heavy.
Technical indicators are POSITIVE & strengthening suggesting higher levels may lie ahead.
This morning, futures are pointing to a HIGHER opening for the major indexes.
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): 3 (subscribers oonly)
United Tech (NYSE:UTX)
Wynn Resorts (NASDAQ:WYNN)
Walter Iind. (NYSE:WLT)
ETFs: QQQQ, XLI, XLY, NDY, XLV, XLF, XLB, IBB, SPY, IVV, IWM
View postings on StockCharts:
Disclosure: Long: 3 positions (subscribers only)