Each week we scan about 7300 stocks and ETFs, checking fundamentals, performing technical analysis and looking for fresh BUY and SELL signals. Out of this process we generate the following lists:
- Alert HQ stock alerts - based on a combination of proprietary and standard technical analysis techniques, we identify stocks or ETFs that are undergoing reversals, either to the upside or to the downside
- Trend Leaders - a collection of stocks in strong up-trends
- Cash Flow Kings whose free cash flow yield is 25% or greater
- Bollinger Band Breakouts - stocks or ETFs that have moved at least 3% above their upper Bollinger Band or at least 3% below their lower Bollinger Band
- Swing Signals - stocks that have bounced off a higher or lower Bollinger Band
- Trend Busters - stocks or ETFs that have violated a current trend.
It was a pretty ho-hum week in the stock market. The three major averages finished the week with fractional gains while the Russell 2000 finished with a fractional loss. Financials and tech led the gainers and I have to say it was good to see tech get its mojo back.
None of the economic reports had much of an effect on investors as most of them, despite being pretty decent, were reasonably within the range of expectations. This included home sales, personal income and spending, weekly initial jobless claims, Durable Goods, Consumer confidence and preliminary Q2 GDP.
Company specific news that reverberated most with me included Dell's better than expected earnings report and positive outlook which was followed by Intel also raising their outlook, increasing guidance for the coming quarter and indicating a continued firming in demand. These items lit a fire under tech in general and semiconductors in particular.
Though stocks finished mostly with small gains, it hides the fact that every day this week was a struggle to avoid a loss. This uncertainty is reflected in our signals at Alert HQ. We see a shrinkage in BUY signals, for example. Though our list of Trend Leaders has grown compared to a week ago, it hit its peak mid-week. On the other hand, Swing Signals and Trend Busters continue to lean to the bullish side.
So the market has spent a week consolidating. Earnings season is pretty much over. "Less bad" economic reports are losing their ability to move the market significantly. Volume is low. Are we in the summer doldrums?
This week's results --
Here is the detailed breakdown for Alert HQ for this weekend:
- Based on daily data, we have 4 Alert HQ BUY signals and 9 SELL signals
- Based on weekly data, we have 5 Alert HQ BUY signals and 22 SELL signals
- Based on daily data, we have 491 Trend Leaders. 62 new stocks joined the list since Thursday and 100 fell off the list since Thursday.
- Based on daily data, we have 101 Bollinger Band Breakouts but we also have 309 Breakouts based on weekly data.
- We have 798 Cash Flow Kings
- Based on daily data we have 40 Swing Signals of which 26 are BUY signals and 14 are SELL signals.
- Finally, we have Trend Busters with 15 signals based on daily data (10 BUY signals and 5 SELL signals) and 32 based on weekly data (21 BUY signals and 11 SELL signals).
Visit Alert HQ and download your free lists of stock alerts. The alerts based on weekly data show those stocks that have exhibited some good follow-through after a recent trend reversal. If you want to be early in identifying the newest trend reversals, the lists based on daily data are for you. No matter which preference you have, there are bound to be a few stocks you will want to add to your watch list.
If you're a momentum trader, the Trend Leaders list is a good place to go shopping. If you have no faith in technical analysis, the Cash Flow Kings may be just what you are looking for. If you do favor 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. See them all at Alert HQ.
Remember, we also provide our latest updated Swing Signals, Trend Leaders and Trend Busters on Tuesday and Thursday nights.