Today we have the following:
- 21 Swing Signals -- 13 BUY signals and 8 SELL Signals.
- 270 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 142 stocks that are new additions to the list and 78 that fell off the previous list.
- 27 Trend Busters of which 23 are BUY signals and 4 are SELL signals.
- 194 Gap Signals -- stocks with upside or downside gaps or gaps that have been closed. 119 are bearish gaps and 75 are bullish gaps.
Over the weekend I declared that caution was in order. Monday stocks rallied but Tuesday they fell back. In terms of the short-term action, neither new highs nor new lows were set. Markets continue to move sideways without any strong indication as to which direction is next.
Looking at the Trend Leaders list, though, the current state of the market is on display. Health care stocks and ETFs, gold miners, materials stocks and ETFs/ETNs covering everything from copper to cotton, grains to gold.
Though the market may be directionless, there are still some interesting selections on our lists. One example, taken from the Trend Busters list, is Ralcorp Holdings (RAH). This stock looks to be making a serious reversal to the upside. Our Gap Analysis list has Loral (LORL) which appears to be moving upward nicely on a good-sized gap after bouncing off its 50-DMA.
Caution may be the word today but there are always some stocks that are in the process of making a move. Browse our Alert HQ stock lists and you're sure to find a few.
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.