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Tuesday, July 21, 2009

Come from behind Tuesday - Swing Signals, Trend Busters and Trend Leaders for July 21, 2009

This is a quick post to announce that Tuesday's Swing Signals, Trend Leaders and Trend Busters are now available at Alert HQ. All are based on daily data.

Today we have the following:
  • 21 Swing Signals -- 18 BUY signals and 3 SELL Signals.
  • 414 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 215 stocks that are new additions to the list and 35 that fell off the previous list.
  • 35 Trend Busters of which 29 are BUY signals and 6 are SELL signals.
Stocks continue their winning streak, barely --

Markets have been on a tear for over a week now. In a change of pace, stocks spent most of the today underwater and then began a slow rise. By the close, stocks had come from behind and finished with minor gains. The S&P 500 has now risen six out of the last seven days. The NASDAQ has finished with gains for ten days straight.

The results are clear to see at Alert HQ. The number of stocks on our list of Trend Leaders has surged to over 400. Again, we are seeing fewer stocks falling off the list and many more stocks coming onto the list - a sign of continued improvement in market breadth.

Our Trend Busters list also continues to reflect bullishness as breakouts to the upside continue to greatly outnumber the breakouts to the downside. Similarly, the BUY signals are in the majority on our list of Swing Signals, also.

At some point stocks will need to take a breather. After another good earnings report from Apple (AAPL) announced after the close today, perhaps markets will decide to sell the news on Wednesday. Be that as it may, I am still thinking there are further gains in store over then next week or two. Certainly, things continue to look pretty bullish here at Alert HQ.

Using our signals --

If you're a momentum trader, the Trend Leaders list is a good place to go shopping. If you practice technical analysis, check out the Trend Busters. And if you are a short-term trader or even a day trader, our Swing Signals may provide some good trading ideas.

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