Each week I rotate through the S&P 500 Large Cap, S&P 400 Mid Cap, S&P 600 Small Cap, NASDAQ 100 and Russell 3000 stocks to give you the 5 Best Stocks of the Day from those screenings. NOT TODAY!
I use a very strict technical analysis selection process:
- Positive Weighted Alpha
- Barchart technical buy signals of 80% or better based on Barchart's 13 technical indicators
- Buy signal on 50-100 Day MACD Oscillator
- Buy signal Trend Spotter
- 50%+ 14 Day Relative Strength Index
- Positive 1,3 and 6 month price change
- Not more than 10% off of 52 week high
At the time of my screening process the was not a single S&P 500 Large Cap stock that passed the test.
My advice is to sit it out, keep your powder dry and wait for the market to strengthen.
Maybe tomorrow but I have no crystal ball.
ETFs that mirror those indexes IVV, IJH, IJR, QQQ, UWC