Fitch Ratings' affirmation of its AAA credit rating on the U.S. was little help for investors as buying enthusiasm vanished.  Tuesday's losses ended a three-day winning streak. Weak economic data out of Europe focused early attention on sovereign debt. The market was pinning its hopes for possible solutions on the outcome of a meeting between French and German government leaders. However, the outcome of the meeting was clearly not what the markets wanted. French President Nicolas Sarkozy said France and Germany are working on "ambitious" joint proposals to support the euro. However, neither France nor Germany supports Eurobonds as a short-term solution. President Sarkozy proposed a tax on financial transactions, which dragged down shares of exchanges.

NYSE Euronext (NYX -8.39%) and other financial stocks trailed the field in New York trading. Citigroup Inc (C -4.25%) and Bank of America Corp (BAC -4.64%) as hedge funds cut their holdings of financial shares. Meanwhile, Dow components The Home Depot Inc (HD +5.28%) and Wal-Mart Stores Inc (WMT +3.88%) enjoyed solid days. Both offered forecasts that were better than expected.

Gold prices rose and oil fell, a sign the risk trade was back in play. U.S. economic reports were mixed. Industrial production climbed 0.9% in July, the biggest increase this year, as car-makers started to shake off the effects of the earthquake disaster in Japan. Housing remains weak. July housing starts in the U.S. declined 1.5% from a downwardly revised total in June.

Disciplined investors are maintaining a watchlist and waiting for a new rally confirmed by a solid follow-through day (FTD) before any new buying efforts are considered. A considerable higher-volume gain between Day 4 and Day 7 from at least one of the major averages is the ideal FTD confirmation that institutional buying demand has returned in a meaningful way.  Meanwhile, the market environment (M criteria) argues for investors to remain cautious and preserve cash on the safe sidelines, staying away from potential harm!

The August 2011 issue of CANSLIM.net News will be published soon! Links to all prior reports are available on the Premium Member Homepage.

PICTURED: The Nasdaq Composite Index's 50-day moving average (DMA) line recently crossed under its longer-term 200 DMA line, termed a "death cross" by technicians.

Charts courtesy www.stockcharts.com

PICTURED: The Internet Index ($IIX -1.85%) topped in February and traded as much as -22.3% from its peak during its recent plunge.

Mastercard Inc Cl A (MA +$0.00 or +0.00% to $335.00) held its ground today with near average volume. Its resilience this week helped it approach its 8/03/11 all-time high, rallying further above the previously cited pivot point.  An annotated daily graph was included in its last FSU appearance on 8/03/11 under the headline, "Surge To New Highs Makes Mastercard an Outlier to Watch", after it had gapped up and and hit a new all-time high following a 4-week consolidation that was considered a "square box" base. The weekly chart below shows it finding support near its 10-week moving average line, and it actually finished last week with a gain. However, the weaker action in the broader market (M criteria) still argues against new buying efforts until a confirmed rally with a follow-through day.

It has been showing sales revenues acceleration and strong quarterly earnings increases, with the latest June 2011 quarter showing a +36% earnings increase on +22% sales revenues. It also has maintained a strong annual earnings (A criteria) history. A considerable 6/29/11 gain on heavy volume came after the Federal Reserve set a higher cap on debit-card fees (mentioned in the 6/29/11 Market Commentary - read here). In a handful of mid-day report appearances in June and July of this year it was noted -"It survived but failed to impress since it was dropped from the Featured Stocks list on 7/02/08 after an ominous 'double top' pattern triggered a technical sell signal."  A follow-up article dated 12/16/08 had last revisited MA and summarized the action under the headline, "Multiple Sell Signals Prompted Profit Taking; Serious Damage Followed".

Color Codes Explained :
Y - Better candidates highlighted by our staff of experts.
G - Previously featured in past reports as yellow but may no longer be buyable under the guidelines.

***Last / Change / Volume data in this table is the closing quote data***

Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
EXLS - NASDAQ Exlservice Holdings Inc DIVERSIFIED SERVICES - Business/Management Services	$24.35	+0.24 1.00%	$24.68	148,607 182.56% of 50 DAV 50 DAV is 81,400	$26.46 -7.97%	8/2/2011	$24.85	PP = $24.85
								MB = $26.09
Most Recent Note - 8/15/2011 4:08:20 PM Y - Loss today led to a close below its high closes in May, negating its recent breakout and raising more concerns. Its 50 DMA line (now $23.29) defines important support to watch. >>> The latest Featured Stock Update with an annotated graph appeared on 8/15/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
FCFS - NASDAQ First Cash Financial Svs SPECIALTY RETAIL - Specialty Retail, Other	$45.25	-0.82 -1.78%	$45.83	574,298 202.15% of 50 DAV 50 DAV is 284,100	$47.80 -5.33%	5/31/2011	$42.00	PP = $40.23
								MB = $42.24
Most Recent Note - 8/16/2011 12:24:38 PM G - Hovering near its 52-week high today after a negative reversal on the prior session broke a streak of 4 consecutive volume-driven gains. Prior chart lows near $37-38 define support to watch above its 200 DMA line. >>> The latest Featured Stock Update with an annotated graph appeared on 8/9/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
JCOM - NASDAQ J 2 Global Communication INTERNET - Internet Software and Services	$28.75	-0.61 -2.08%	$29.15	282,113 88.46% of 50 DAV 50 DAV is 318,900	$31.72 -9.36%	8/8/2011	$30.38	PP = $29.31
								MB = $30.78
Most Recent Note - 8/16/2011 1:26:50 PM G - Quietly slumping near its 50 and 200 DMA lines today, struggling amid a widely negative market (M criteria). Last week it churned a lot of volume without making progress since its 8/03/11 gap up. >>> The latest Featured Stock Update with an annotated graph appeared on 8/8/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
MA - NYSE Mastercard Inc Cl A DIVERSIFIED SERVICES - Business/Management Services	$335.00	+0.00 0.00%	$338.00	1,472,850 100.09% of 50 DAV 50 DAV is 1,471,500	$340.42 -1.59%	8/3/2011	$324.82	PP = $322.38
								MB = $338.50
Most Recent Note - 8/15/2011 4:14:29 PM G - Gain today with near average volume, approaching its 8/03/11 all-time high, rallying further above the previously cited pivot point. >>> The latest Featured Stock Update with an annotated graph appeared on 8/16/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
MG - NYSE Mistras Group Inc DIVERSIFIED SERVICES - Bulding and Faci;ity Management Services	$19.35	-0.23 -1.17%	$19.64	155,997 119.08% of 50 DAV 50 DAV is 131,000	$19.85 -2.52%	8/10/2011	$17.89	PP = $17.58
								MB = $18.46
Most Recent Note - 8/15/2011 12:16:00 PM G - Hit another new 52-week high with today's 5th consecutive gain backed by above average volume. It is extended from its prior base, and previous resistance in the $17-18 area now defines important chart support to watch on pullbacks. >>> The latest Featured Stock Update with an annotated graph appeared on 8/11/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
MKTX - NASDAQ Marketaxess Holdings Inc FINANCIAL SERVICES - Investment Brokerage - Nationa	$24.05	-0.64 -2.59%	$24.62	105,337 66.00% of 50 DAV 50 DAV is 159,600	$27.21 -11.61%	7/29/2011	$25.87	PP = $26.35
								MB = $27.67
Most Recent Note - 8/16/2011 1:23:51 PM G - Today it is slumping back below its 50 DMA line which may now act as resistance. Recent lows and its 200 DMA define the next support levels to watch. >>> The latest Featured Stock Update with an annotated graph appeared on 8/10/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
PCLN - NASDAQ Priceline.Com Inc INTERNET - Internet Software and Services	$497.32	-17.03 -3.31%	$508.26	1,816,760 155.37% of 50 DAV 50 DAV is 1,169,300	$561.88 -11.49%	7/29/2011	$539.46	PP = $552.15
								MB = $579.76
Most Recent Note - 8/16/2011 1:21:40 PM G - Down today with higher volume, slumping back under its 50 DMA line. The 200 DMA line and recent chart lows define the next important support to watch. >>> The latest Featured Stock Update with an annotated graph appeared on 8/12/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M