Skip to main content

Follow-through Thursday: Trend Busters, Swing Signals and Trend Leaders for July 16, 2009

It looked like today might result in profit taking but instead we got a fine follow through on the previous days' rally. With jobless claims under 600K for the second week in a row, continuing claims finally showing a decrease and JP Morgan Chase reporting excellent earnings, the bulls wouldn't be denied today.

The view from Alert HQ --

The buildup in BUY signals on our Swing Signals list gave us a suspicion that a rally was on the way. Sure enough, that's what we've had this week. The number of Swing Trading Signals today has receded but the majority are BUY signals. If they are truly a leading indicator, the outlook now should be that the rally is slowing down.

On the other hand, our list of Trend Leaders continues to bulk up. It has been steadily growing and reflecting the return of bullishness to the market as more and more stocks and ETFs begin to display strong uptrends.

A further confirmation of the positive tone is found in our Trend Busters list where BUY signals dominate SELL signals three-to-one.

Thursday's Signals --

Today we have the following:
  • 46 Swing Signals -- consisting of 43 BUY signals, a mere 3 SELL Signals.
  • 184 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. There are 107 new stocks that made today's list and only 21 that fell off Tuesday's list.
  • 45 Trend Busters of which 35 are BUY signals and 10 are SELL signals
Using the signals --

As a humble practitioner of technical analysis, I admit that every signal can't be correct. Alert HQ can, however, provide a filtered selection of likely candidates from which investors can choose. Remember, 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.

Comments

Popular posts from this blog

Brazil - in a bubble or on a roll?

A couple of years ago, no one recognized the real estate bubble even though it was under everyone's nose. Now, analysts and bloggers are seeing bubbles everywhere they look. One of them, they say is in Brazil whose Bovespa stock market index has doubled in the last 12 months. Does the bubble accusation hold water? I don't think so and here are 7 reasons why Brazil is by no means a bubble economy: Exports have held up over the past year thanks to demand from China for Brazil's soya exports and iron ore. This was helped by the the Brazilian government's drive to improve trade links with Asia and Africa. Export diversification, spurred by a more active trade policy and increased focus on "south-south" trade under current president Lula, helped mitigate the decline in demand from OECD (Organization for Economic Co-operation and Development) countries A "sensible" economic framework has been in place since the 1990's. This has included inflation ...

Trade Radar gets another update

Some of our data sources changed again and it impacted our ability to load fundamental/financial data. In response, we are rolling out a new version of the software: 7.1.24 The data sourcing issues are fixed and some dead links in the Chart menu were removed. So whether you are a registered user or someone engaged in the free trial, head over to our update page and download the latest version. The update page is here:   https://tradingstockalerts.com/software/downloadpatch Contact us if you have questions or identify any new issues.

Time to be conservative with your 401K

Most of the posts I and other financial bloggers write are typically focused on individual stocks or ETFs and managing active portfolios. For those folks who are more conservative investors, those whose main investment vehicle is a 401K, for example, the techniques for portfolio management might be a little different. The news of stock markets falling and pundits predicting recession is disconcerting to professional investors as well as to those of us who are watching our balances in an IRA or 401K sag. What approach should the average 401K investor take? Let's assume that the investor is contributing on a regular basis to one of these retirement accounts. There are two questions that the investor needs to ask: 1. Should I stop putting the regular contribution into stocks? My feeling is that investors making regular contributions are being handed a present by the markets. Every week the market goes down, these investors are lowering their average cost. When markets reco...