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Market Pulls Back 16 Leaders Crack

BuyingBreakOutscom Website

BuyingBreakOutscom Website,

James F. Taulman - For more than 8 years James had served as Editor-in-Chief an independently licensed website that offered stock reports and services... FULL BIO

Market Pulls Back  16 Leaders Crack

After six consecutive weeks of gains, the major averages posted their worst weekly losses in months.

Last weeks pullback has now put the current rally run under pressure.

Many leading stocks which made great strides over the past month or more have now fallen from their extended levels.

On the morning of November 11th, I published list of 21 stocks that I noted as being too extended. This was of course a list of extended stocks which were trading in an extended market. I then added three more stocks the following day, bringing the total to 24.

As of the close last week, 16 have significantly cracked from their highs including:

GWB, MCD, SBGI, SYKE, VC, WCN, CRAY, LNKD, FB, MXL, BDX, MSFT, NTI, LDOS, NVDA, and IRMD

Here are the charts of two, which may best illustrate my point.

NVDA111615

WCN111615

Here are the remaining 8:

JBT, SHOR, WST, NOW, TTWO, ASGN, NHTC, and EDU which looks like the next to fall.

I am adding BAK to this list today.

As far as our TrendLine SetUps, I am not watching GPI any longer as it fell nearly -6% on Friday.

I have also dropped covering SPB and CRI

Any questions or concerns, please reply to this email me as I would be glad to assist you.

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