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Tuesday, July 14, 2009

Hang tough Tuesday - Swing Signals, Trend Busters and Trend Leaders for July 14, 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:
  • 160 Swing Signals -- 151 BUY signals and 6 SELL Signals plus 3 Strong BUYs.
  • 98 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 59 stocks that are new additions to the list and 13 that fell off the previous list.
  • 18 Trend Busters of which 12 are BUY signals and 6 are SELL signals.
After Monday's big rally, stocks hang tough on Tuesday --

Stocks had a big day on Monday. The S&P 500, for example, rebounded from a sagging support level and avoided dropping through the neckline of the dreaded head-and-shoulders chart pattern that so many market participants were watching. With a couple of so-so economics reports that came out today, stocks had to fight to keep Monday's gains. In the end, stocks managed to hang tough and finish Tuesday with further gains.

After four weeks of declining stock prices, this week's upsurge is generating major turn-arounds in our daily data. Our Swing Signals have sky-rocketed and the vast number are BUY signals.

The number of stocks on our list of Trend Leaders nearly doubled. Rather than a rotation, we are seeing only few stocks falling off the list and a bunch more stocks coming onto the list - a sign of improvement in market breadth.

Similarly, our Trend Busters list suggests the beginning of a resurgence in the market as the breakouts to the upside now outnumber the breakouts to the downside.

With bellwether Intel coming through with a good earnings report after the close today, I am hopeful that we will see a further advance in the major stock averages. The promising chart action of the last two days provides more ammunition for the bulls. Now if the S&P 500 can just get back up above its 50-day moving average...

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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