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Tuesday, January 12, 2010

Alert HQ signals for Tuesday, Jan 12, 2010

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:
  • 66 Swing Signals -- 11 BUY signals and 55 SELL Signals.
  • 619 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 149 stocks that are new additions to the list and 200 that fell off the previous list.
  • 29 Trend Busters of which 22 are BUY signals and 7 are SELL signals.
  • 211 Gap Signals -- stocks with upside or downside gaps or gaps that have been closed. 82 are bearish gaps and 129 are bullish gaps.
The view from Alert HQ --

Pretty inauspicious start to earnings season today!

Alcoa missed Wall Street expectations when they reported last night and that was enough to start a steady erosion in stocks today. And after weeks of consistent bullishness, our Alert HQ signals have been turned on their heads.

What we are seeing is SELL signals outnumbering BUY signals on three out of four of the lists above. To add insult to injury, most of the BUY signals on the Swing Trading list are inverse ETFs. Finally, though the Trend Leaders list is still reasonably sizable, the number of stocks dropping off the list exceeded the number that were added.

All in all, there is not much good to say about the behavior of stocks today. Still, it's not the end of the world. Here is the chart of the Total Market Vipers ETF (VTI).

The Good - The Slow Stochastics and MACD have both been marching upward along with stocks over the last month or so. This lack of divergence has been bullish. Now, both indicators have turned down but neither has quite given a SELL signal yet though both are close.

The Bad - With the bearishness in the Alert HQ signals, it is reasonable to assume that further weakness is in store.

The Ugly - And if there is going to be further weakness, there's quite a way to go before VTI, for example, gets down to a serious support level or its 50-day moving average. So be prepared to see profits dwindle.

As a result, investors should not be running for the exits yet but caution should surely be uppermost in our minds.

As we move into earnings season, craziness and volatility can be expected. Today semiconductors got killed but they could easily rally again after Intel reports on Thursday. So hold on for a bumpy ride!

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.

Found a few stock picks you are interested in? If you are looking to refine your entry and exit points, you should take a look at what our friends at Hottinger's E-Zone Signals have to offer.

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