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Tuesday, November 17, 2009

Tuesday Swing Signals, Trend Leaders, Trend Busters and Gaps for Nov 17, 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:
  • 22 Swing Signals -- 19 BUY signals and 3 SELL Signals.
  • 411 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 191 stocks that are new additions to the list and 62 that fell off the previous list.
  • 56 Trend Busters of which 52 are BUY signals and 4 are SELL signals.
  • 225 Gap Signals -- stocks with upside or downside gaps or gaps that have been closed. 108 are bearish gaps and 117 are bullish gaps.
The view from Alert HQ --

Stocks struggled today but managed to end with minor gains. Still, it was enough to allow the Dow, the S&P 500 and the NASDAQ 100 to hit new 52-week highs.

Are stocks getting over-extended here? Our signals are beginning to indicate that we're getting closer to that state but that we're not yet there. Every time the Trend Leaders list gets up into the range from 800 to 1000 stocks on it, you can bet we're ready for a pullback. With only 411 stocks on today's list, I don't think we're too overbought yet.

The fact that the list of Swing Trading Signals only has 22 stocks on it shows that the current cycle is getting a little long in the tooth. Still, the large majority of signals on this list and the Trend Busters list are BUY signals. That tells me that the rally has some strength left in it.

As I've been saying for the last couple of weeks, the primary trend is UP. Trade accordingly.

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 or Gap Signals may provide some good trading ideas.

1 comment:

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