Market internals weakened more on Monday. The screened stock also weakened by the divided average but actually, on the day, the up stocks came in at 13.3 and the down 4. However, the ratio dropped, still positive at +3.77 favoring buying, the estimate of market risk remains moderate.
Strong groups remain; computer services, gaming, homebuilders, software, restaurants, semiconductors and select retail. Note that the auto parts group have fallen significantly over the last few weeks.
The watchlist stocks listed here are close to support, the stop would not likely be any more than 60 cents to $1.20 below the buy price. The target sale is at least twice what should be lost in a stop loss.
FISV, HRB, IGT, KBH and NDN.
Good Trading!!
Sam
savvy-trader.com |
