Major Indexes Gain In Light Volume
On Tuesday, stocks rallied on better than expected earnings reports. However, the gains were accompanied by lighter volume suggesting a lack of institutional sponsorship. As stated in previous reports, stocks close to / meeting the criteria are very difficult to find. It seems unlikely for major indexes to rally with sustainability as numerous leading stocks remain extended. Further pullbacks appear necessary to digest gains and rebuild momentum. Although recent gains are welcome, the market climate is HIGH RISK.
Focus on stocks meeting the CRITERIA.
This morning, futures are displaying a modestly HIGHER opening
Climate is - UPTREND
(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) reported 02/26
McDonalds (MCD) 04/16
Target (TGT) 02/27
American Expr.(AXP) reported 01/17
Visa (V) reported 02/06
Gilead (GILD) reported 02/04
Dollar Tree (DLTR) reported 02/06