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Thursday, September 10, 2009

Thursday Swing Signals, Trend Busters and Trend Leaders for Sept 10, 2009

Here are the results for Thursday's Swing Signals, Trend Leaders and Trend Busters. All are now available at Alert HQ and are based on daily data.

Today we have the following:
  • 54 Swing Signals -- 42 BUY signals, 9 SELL Signals and 3 Strong BUYs. Our most bullish situation ever!
  • 485 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 359 stocks that are new additions to the list and 20 that fell off the previous list.
  • 50 Trend Busters of which 42 are BUY signals and 8 are SELL signals.
The view from Alert HQ --

Light volume but stocks are up five days in a row. Say what you will, gains are gains no matter the volume.

Thursday means initial jobless claims and today's results were slightly better than expected. More notable was an upgrade of Yahoo! that helped tech stocks advance. A treasury auction went off well today. Geithner gave comforting testimony on Capital Hill. Semiconductors showed a muted reaction to last night's improved guidance from Texas Instruments. Network stocks again had a good day. All in all, there was no earth shaking news but stocks put together another modest rally. The more people call for a pullback, the higher Mr. Market pushes stock prices.

With respect to Alert HQ, we are still reflecting the bullish action. We now have the list of Trend Leaders and the list of Trend Busters both growing nicely. We still have a lot of bullish Swing Signals but not quite as many as we had on the last few lists. With the Swing Signals decreasing and the Trend Leaders increasing, we now have the leaders and the laggers beginning to signal that the current up-trend is beginning to tire a bit.

Is it time to throw in the towel on this market? Not yet! We're in "climbing the wall of worry" mode and we could easily see stocks higher a week from now or a month from now.

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.

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