Major Indexes In Tight Trading Range
On Thursday, major indexes closed mixed 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 displaying a MIXED 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
Home Depot (HD) (earnings 02/26)
Bank America (BAC) (04/15)
Anheuser (BUD) (03/08)
Citigroup (C) (04/15)
Target (TGT) (02/27)