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Tuesday, September 29, 2009

Tuesday Swing Signals, Trend Busters, Trend Leaders and Gap Signals for Sept 29, 2009

This post is announcing that Tuesday's Swing Signals, Trend Leaders, Trend Busters and Gap Signals are now available at Alert HQ. All are based on daily data.

Today we have the following:
  • 27 Swing Signals -- 16 BUY signals and 11 SELL Signals.
  • 353 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 128 stocks that are new additions to the list and 113 that fell off the previous list.
  • 15 Trend Busters of which 8 are BUY signals and 7 are SELL signals.
  • 318 Gap Signals -- stocks with upside or downside gaps or gaps that have been closed.
The view from Alert HQ --

Our signals at Alert HQ are beginning to indicate a slowing in the negative momentum and perhaps a preparation a resumption of the up-trend. Let's look at each signal in turn:
  • I've noted before that we look to the Swing Signals to give us early warning on market turns. We've had SELL signals outnumbering BUY signals for a couple of weeks but today we see that situation reversed. This increases our expectations that the market is poised to move up.
  • I've also said that the Trend Leaders provide confirmation to the more short-term signals like the Swing Trading Signals. Our Trend Leaders list has been knocking around at rather low levels around 300 for a week or so now and we have seen the number of stocks falling off the list generally outnumbering the number moving onto the list. As of today, that situation has reversed. This is welcome news which implies that the tide could be turning in a positive direction.
  • With respect to our Trend Busters, the bullish signals hold a slight edge over the bearish signals
  • Our new Gap Signals are showing 170 bearish signals and 148 bullish signals. This category isn't doing much to support our bullish thesis. On the other hand, including a full week's worth of signals may be skewing our results when we are trying to look forward based in recent data.
  • Inverse ETFs are much less in evidence among our BUY signals today than they were last week.
So, in aggregate, the number of bullish signals suggests the market may be recovering sooner rather than later. Be sure to check Alert HQ for stocks that are poised to benefit.

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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