Skip to main content

Holy Cow! - Thursday Swing Signals running wild

OK, markets hit a rough patch over the last few days but managed to put together a bit of a bounce today. Yes, we had the obligatory "stick save" at the end of the session. The result, though, is that a whole bunch of stocks are now perfectly matching the criteria we need to generate bullish Swing Trading Signals.

Here are the results for Thursday's Swing Signals, Trend Leaders and Trend Busters. All are now available at Alert HQ and are based on daily data.

Today we have the following:
  • 129 Swing Signals -- 110 BUY signals, 4 SELL Signals and 15 Strong BUYs. Our most bullish situation ever!
  • 79 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have a paltry 14 stocks that are new additions to the list and 114 that fell off the previous list.
  • 19 Trend Busters of which 9 are BUY signals and 10 are SELL signals.
The view from Alert HQ --

Thursday's signals always coincide with the release of initial jobless claims. Today's results didn't move the market though the numbers were certainly nothing to be happy about. On the other hand, minor improvements and more of the "less bad" them is preferable to horrible. Retails sales were also disappointing but a few bellwether companies beat expectations so stocks tacked on some gains.The ISM Services index was actually a pretty good piece of news and stocks plunged when it was released and then finally recovered. Go figure...

With respect to Alert HQ, we have a situation that is the opposite of what we saw last week. Then, we summarized it as Swing Signals down, Trend Leaders up. Today the tables are turned.

Our Trend Leaders typically show a bit of a lag while the Swing Signals are usually the early warning signal. Today's Trend Leaders list, smaller than it has been in months, shows the effect of the recent weakness in stocks. Our Swing Trading Signals, however, show that many stocks have been able to shake off the weakness. The larger than usual number of Strong BUYs shows that a good number of stocks have not violated their up-trends during the downturn of the last few days and are now clawing their way back.

When we get big reactions in our Swing Signals, it has been know to mark a turning point. If that is true today, you should be prepared to buy some stocks! And I might mention the emerging market ETFs seem to be in a resurgence so don't be afraid to look abroad.

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.
Labels:

Comments

Post a Comment

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 ...
4 comments
Read more

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.
Post a Comment
Read more

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...
7 comments
Read more