Futures Display LOWER Opening
On Wednesday, 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, the number of candidates close / meeting the criteria has diminished over recent sessions. It has become 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 LOWER 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)
Bank America (BAC)