TM, Got a Bunch of BASIC sell signals this week.
The weekly charts gave BASIC sell signals on the following: ABT, AHP, BMY, CMB, GE, HD, MCD, MWD, MSFT, SGP, TWX, and WMT. They join 22 others that have already given weekly sell signals.
There are some grandads of the Big Boyz on that list. This market better get well in a hurry as down is a long way. Based on the market cap at the end of February, 6 out of 6, of the top stocks have now given sell signals. The CAT's and the IP's are not going to hold it up.
Actually did get 1 buy signal, S, but it is bumping up against some severe resistance. GT's chart also looks interesting. Either of these are positioned to breakout like some of the other little puppies in the last couple of weeks.
I'm in a bear mode and will only play long when the 60-min is in my favor. Actually, the market smells range bound to me and there is money to be made!
TB |
