Last week was a little weaker than what we have been experiencing so far this year, with a new high being made on Tuesday followed up with moderate down days for the remainder of the week. We remain in a strongly overbought condition, so traders need to remain conservative with their trades for the time being. Quite a few of our "holds" are starting to roll over and those will need to be watched carefully to ensure that we don't turn them into losing trades. I've also labeled anything that has moved up nicely as "profit zone". This is not because I don't think they can go further but rather that if we get a more sustained correction, overbought stocks are likely to get dinged.
This is possibly the first week ever where we have no "buys" from the current list, which is further indication of how overbought current markets are. That being said, I did add seven new stocks in the "buy" category.
"Buy" charts and suggested stop losses: