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Thursday, July 9, 2009

Thursday Bounce: Trend Busters, Swing Signals and Trend Leaders for July 9, 2009

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:
  • 72 Swing Signals -- A couple of days ago we had 35 signals, today we have twice as many. Happily, we now have 65 BUY signals, a mere 4 SELL Signals plus 3 Strong BUYs. Whoo-hoo!
  • 56 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. There are 18 new stocks that made today's list and 60 that fell off Tuesday's list.
  • 48 Trend Busters of which 5 are BUY signals and 43 are SELL signals
The view from Alert HQ --

Talk about mixed signals.

If you look at our Swing Signals list you would think the market was in the middle of a big bounce. BUY signals are swamping the SELL signals and we even have a few Strong BUYs. Yes, there's a good sprinkling of tech stocks and tech ETFs but the distribution is pretty broad-based with a good number of different sectors represented, even a homebuilder!

To bring the level of enthusiasm down a bit, our list of Trend Leaders is looking rather anemic with only 56 stocks listed. Notable is the presence of a good number of inverse ETFs based on commodity and materials indexes. These guys are well represented today and show how hard these sectors have fallen.

Our Trend Busters seem to be caught between a rock and a hard place. We have enough upward trending data (in some cases, several months worth of bullish data) to generate SELL signals when the stocks reverse and begin to fall. On the other hand, most stocks have not been falling long enough to allow us to generate many BUY signals based on reversals from extended downtrends.

In conclusion, my optimistic outlook pushes me to look at the Swing Signals as a leading indicator and predict the market is about to see a bounce. Maybe it's just due to being oversold, but it looks like a bounce is starting nevertheless. Let's hope it's not just a dead cat bounce...

Using the signals --

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.

1 comment:

Stock Charting SOftware said...

Hi...

It was a crazy week in the market, wasn't it? What most people don't realize is that there is plenty of money to be made in this market, especially with the wild flucuations.

You just got to know when to sell your stocks.

K

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