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Thursday, July 2, 2009

Humble Thursday: Trend Busters, Swing Signals and Trend Leaders for July 2, 2009

Well, I've been predicting a bit of a rally but today Mr. Market humbled me. Stocks fell across the board, weighed down by poor employment numbers.

Nevertheless, we need to soldier on. This is a quick post to announce that we have published Thursday's Trend Leaders, Swing Signals and Trend Busters at Alert HQ. All are based on daily data.

Today we have the following:
  • 30 Swing Signals -- A week ago we had 300 signals, today one tenth as many. We no longer have a bullish tone in this list: there are only 13 BUY signals and 16 SELL Signals plus 1 Strong BUY.
  • 195 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. There are 68 new stocks that made today's list and 71 that fell off Tuesday's list.
  • 18 Trend Busters of which 3 are BUY signals and 15 are SELL signals
The view from Alert HQ --

Our Swing Signals list reflects how the market has wilted over the last couple of days. After a generous helping of BUY signals in the previous few lists, we have now gone into a sort of hibernation.

On the other hand, our list of Trend Leaders is maintaining a certain level of robustness. That is encouraging but there is one caveat. As I have mentioned in the past, there is quite a bit of filtering on the indicators used to generate the list of Trend Leaders so they tend to lag major market moves by a bit. With the market taking a big hit today, a lack of a quick recovery will certainly see the weakness reach our Trend Leaders.

A day like today reinforces the concept that no indicators are immune to major market moves. When the broad market moves lower, many of our BUY signals go out the window. Conversely, our SELL signals do very well on a day like today. The trick is being able to choose the right signals at the right time. But then that's always been the challenge in the markets, hasn't it?

Using the signals --

So, as a humble practitioner of technical analysis, I admit that every signal can't be correct. Alert HQ can, however, provide a filtered selection of likely candidates from which investors can choose. Remember, 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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