This week markets logged some solid gains on economic news that pleasantly surprised investors by not being as awful as expected. The Fed and earnings reports likewise failed to derail the major indexes. The S&P 500 even broke through a significant technical resistance level. Against this reasonably positive backdrop we see the strength noted in past posts continuing. As a result, this week's Alert list contains 36 BUY signals, an increase from 22 in the prior week, and only 7 SELL signals.
Looking back --
Here are a few examples of BUY signals from last week's TradeRadar Alert List and the gains they generated in just five days:
- A real-estate investment trust that gained 18%
- A semiconductor equipment manufacturer that gained 7%
- A bank that gained 7%
- A food company that gained 6%
- A semiconductor manufacturer that gained 22%
- A manufacturer of truck components that gained 21%
- An IT infrastructure company that gained 21%
- A telecom/cable company that gained 18%
As usual, later this weekend I will be writing another post to describe my analysis of the market statistics the Alert HQ software has generated. At first glance, it appears that market internals are gaining strength except for a couple of indicators. Do we need to worry? Stay tuned for the full analysis.