Last week, the major U.S. indexes moved lower again. The NASDAQ gave up 0.1%, the S&P 500 faded 0.3%, the NYSE composite dipped 0.4%, and the Dow lost 0.5%. The IBD outlook remains at “confirmed uptrend”. With summer vacations over, market volume should start to pick up ahead of Friday’s release of August employment situation data.
This week five of the watch list stocks are at or near proper buy points. ALXN, trading at $107.21, has formed a 4th stage square box flat base with a potential buy point of $110.06. FLT, trading at $43.18, is still within 5% of a $41,40 buy point after breaking out of a 1st stage cup base. TJX, trading at $45.79, has formed a three weeks tight pattern with a potential buy point of $46.77. ULTA, trading at $94.00, has formed a late, 6th stage cup base with a potential buy point of $98.52. VAL, trading at $53.34, has formed a 2nd stage base on base cup with handle pattern with a potential buy point of $53.85.
/as usual, your mileage may vary, always do your own homework