Last week the major U.S. indexes finished mixed. The Dow added 1.0%, the NYSE composite gained 0.7%, the S&P 500 ticked up 0.1%, and the NASDAQ slid 1.1%. The IBD outlook remains at “confirmed uptrend”. The market seems to be behaving like an equities deer caught in the fiscal cliff headlights, waiting for the Taxmaggedon, Sequestration collision or the last minute swerve into a meaningful debt deal. Any sense of certainty is a distant memory and it’s extremely unfortunate when the country’s elected politicians are collectively doing more harm than good to their constituents. The only practical investing course of action for now is to stay cautious and wait for the deck to clear, one way or the other.
This week three watch list stocks are at or near proper buy points. DDD, trading at $45.61, is within 5% of a $44.90 buy point off of a 3rd stage cup base, although conviction and volume are lacking on the breakout. FLT, trading at $52.74, has formed a three weeks tight pattern with a potential buy point of $53.00. EBAY, trading at $51.74, is still within 5% of a $51.04 buy point off of a 2nd stage flat base.
/as usual, your mileage may vary, always do your own homework