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Summary | 7 Annotations
: Watch the major averages and the leading stocks. That’s it. Those two indicators have withstood the test of time,
2017/09/01 01:48
But the averages and leaders do serve to keep one on the right side of the market.
2017/09/01 01:48
Meanwhile, Apple AAPL, +0.40% Facebook FB, +1.21%  Tesla, Paypal PYPL, -0.15% Alibaba BABA, +0.29% Salesforce.com CRM, +0.66% Baidu BIDU, +1.86% and Tencent Holdings TCEHY, +0.95%  trade close to their highs.
2017/09/01 01:49
, generally, the action of the leading stocks, which have been large growth names for some time, remains in good shape.
2017/09/01 01:49
. In most cases, a position should not be entered when price is extended, i.e. more than 5% past the top of its base for breakout buys.)
2017/09/01 01:51
Tesla gives a good account of itself as it repairs its chart pattern following the June-July slide from $386 to $303. Price sits at $345. There has not been any high-volume selling in weeks. The $370 swing high of Aug. 9 offers a convenient way of entering the stock without taking the risk of it rolling over from here.
2017/09/01 01:51
To sum, our two primary indicators, the price-volume behavior of the averages and the action of the leading stocks, point to the market’s direction being up.
2017/09/01 01:51