No S&P 500 Large Cap Pick Today

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