09/28 @ 8:20am
On Monday, major indexes posted an orderly pullback closing at session lows. Volume was lighter across the board.
The vast majority of 750 stocks monitored in the database are severely EXTENDED.
Orderly pullbacks would be healthy for stocks so as to provide attractive entry points when candidates once again meet the criteria. Numerous stocks need to digest gains and rebuild momentum.
This morning, futures are pointing to a modestly HIGHER opening for the major indexes.
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
Cmpanhia Siderugica (NYSE:SID)
General Dynamics (NYSE:GD)
United Tech (NYSE:UTX)
ETFs: QQQQ, XLI, XLY, XLV, XLF, XLB, IBB, SPY, IVV, IWM, SMH
Note: These ETFs are EXTENDED and need pullback....
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Disclosure: None: 100% CASH