09/27 @ 8:35am
The vast majority of 750 stocks monitored in the database are severely EXTENDED. The market needs to pullback to digest recent gains and rebuild momentum.
Orderly pullbacks would be healthy for stocks so as to provide attractive entry points when candidates once again meet the criteria.
This morning, futures are pointing to a modestly HIGHER opening for the major indexes. At this time, further gains in the market will propel already extended stocks into more extended territory.
Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price.
Selective Chartists Positions (with BUY price): None 100% CASH
Closely Monitoring: (Stocks Focus List 09/25) further strength may propel purchases
ETFs: QQQQ, XLI, XLY, XLV, XLF, XLB, IBB, SPY, IVV, IWM
Note: These ETFs are EXTENDED and need pullback....
View postings on StockCharts:
Disclosure: None 100% CASH