The view from Alert HQ --
Our list of Trend Leaders has dwindled a bit since Tuesday but on the whole we still have a good number of stocks and ETFs on the list. And why not, with stocks spiking as they have been for the last two weeks? This list still maintains a bullish tone.
The number of Swing Trading Signals today has increased and we continue to see that the majority are BUY signals. In a good indication of the breadth of this rally, today's BUY signals are widely dispersed across many different industry sectors.
After two weeks of rapidly rising prices, it is a little surprising to see an increase in the Trend Busters list. By now I would have thought that every stock that was going to reverse to the up-side already had. Apparently, there are still some left and they're turning up as BUY signals on our Trend Busters list.
All in all, our signals show a market flexing its muscles. We know nothing goes straight up forever but for now Alert HQ shows that stocks are still on a roll with no real signs of weakness yet.
Thursday's Signals --
Today we have the following:
- 33 Swing Signals -- consisting of 27 BUY signals, a just 6 SELL Signals.
- 719 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. There are 339 new stocks that made today's list and only 34 that fell off Tuesday's list.
- 48 Trend Busters of which 46 are BUY signals and 2 are SELL 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.