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Point & Go Figure: ADCT, C, FCEL, NANO

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Overbought? My favorite flavor.

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Market Overview:

The short-term conditions continue to deteriorate from very high-risk levels. The pattern of lower lows and lower highs persists for both the NYSE and Nasdaq Composite Percent Above 50-day Moving Average Indicators and both are now negative (in a column of Os) on their charts. Both are on sell signals as well, having each exceeded previous columns of Os. The NYSE, however, has moved to a more modest risk level at about 50%.

The High-Low Indices for the NYSE and Nasdaq Composite are also both negative, in a column of Os, but the NYSE High-Low has now moderated from high-risk levels, and closer to the 50% area.

The longer-term bullish percent Indices for the NYSE and Nasdaq Composite are both still in Xs, but the larger pattern of lower highs there also remains intact, a significant bearish divergence, but a longer-term one. The more narrow S&P 500 and Nasdaq-100 Bullish Percents both are negative, each in a column of Os.

Charts of Interest:
ADC Telecommunications, Inc. (ADCT)
(Chart courtesy
StockCharts.com)
ADCT has dripped lower since peaking at 27 in February and on Monday reversed down on the chart to test support at 23. A move to 22 breaks a double bottom, the first sell signal for this stock since last October.


ADC Telecommunications, Inc. (ADCT)
(Chart courtesy Thomson Financial)
Meanwhile, ADCT has registered a DeMark TD-Sequential buy signal and now has room to at least the 50-day moving average just below 25.

Citigroup (C)
(Chart courtesy
StockCharts.com)
On a PnF basis (.25x3 chart) C has broken a triple top at 48.50, but only by one X, and there remains risk of a bull trap, supported by...

Citigroup (C)
(Chart courtesy Thomson Financial)
The DeMark 13 TD-Sequential sell signal. I have not quantified the pattern for publication yet, but have been doing some preliminary work and stocks that break out on a PnF chart bit remain below a price peak in conjunction with DeMark TD-Sequential or TD-Combo sell signals have a high probability of failure making them very good short sale candidates. Not advice, just food for thought.

FuelCell Energy, Inc. (FCEL)
(Chart courtesy
StockCharts.com)
FCEL recently broke consecutive double tops. Looking good, Billy Ray?

FuelCell Energy, Inc. (FCEL)
(Chart courtesy Thomson Financial)
Actually, not feeling good at all, Louis. The positive PnF breaks are now giving way to DeMark sell signals across multiple time frames, daily and weekly.

Nanometrics Inc (NANO)
(Chart courtesy
StockCharts.com)
Another case of a positive PnF pattern, but still showing lower highs in the overall PnF chart context combined with...

Nanometrics Inc (NANO)
(Chart courtesy Thomson Financial)
DeMark TD-Sequential and TD-Combo sell signals.

No positions in stocks mentioned.

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