Major Indexes Remain Indecisive
On Friday, ahead of a holiday weekend, major indexes closed basically unchanged on mixed volume. Major indexes are trading at 5 year highs and displaying stagnant action signaling pullbacks may occur near-term. Anticipate backing and filling with a TREND working higher. Orderly pullbacks are welcome to digest gains and rebuild momentum. Numerous leading stocks remain extended. As displayed below, there are only a few candidates close / meeting the criteria. It is a very selective market for purchase considerations. Any current or new purchases should apply a tight stop-loss (3 - 5%) to protect capital during pullbacks.
This morning, futures are displlaying a modestly HIGHER opening
Climate is - UPTREND
CRITERIA:
http://www.selectivechartists.com/analysis/stock-report/selective-chartists-criteria
(Top candidates poised for higher levels near-term).
In general, BUY within 5% of Pivot, stop-loss 7% below buy price
Earnings dates are provided as holding into the news may add high volatility.
Home Depot (HD) (earnings 02/26)
Bank America (BAC) 04/15
Anheuser (BUD) 03/08
Comcast (CMCSA) reported 02/12
Visa (V) reported 02/06
View Charts:
http://stockcharts.com/public/1234064