Today we have the following:
- 81 Swing Signals -- 63 BUY signals and 7 SELL Signals. Not only that, we also have 12 Strong BUYs.
- 216 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have only 19 stocks that are new additions to the list and a substantial 457 that fell off the previous list.
- 12 Trend Busters of which 4 are BUY signals and 8 are SELL signals.
After two days of declines (and Monday's decline was a doozy) it was a relief to see stocks rebound today. Of course, everyone is wondering if the rebound will continue or whether stocks will resume their losing ways.
Looking for clues in our signals today, we see two wildly divergent developments.
- Trend Leaders: a week ago we had 989 stocks and ETFs on the Trend Leaders list. Now there are only 216 with a mere 19 new ones added to the list today while a whopping 457 fell off the list. This means that a sizable number of stocks are no longer in their strong up-trends. Outlook: bearish
- Swing Signals: today's rebound generated a flurry of BUYs on our list of Swing Trading Signals. We even have a nice selection of Strong BUYs. This means that a bunch of stocks bounced nicely off their Bollinger Band. Outlook: bullish
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.