DrStool Posted June 10, 2021 Report Share Posted June 10, 2021 Well, if you can call 16 points a downtrend. And a 5 day cycle projection of 4215 was already hit overnight. In the 5-6AM hour in NY is trend sport. 4222 is trend resistance. I'm not hopeful for a big move if either is broken. There are more sport lines every few points down to 4205. They would need to break that to get anything going on the downside. Ditto on the upside. Any trading from 4215-4237 would be noise. Then you have the top of those two megaphones around 4240 and 4246. I'm not getting my hopes up. If you are a new visitor, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter. Meanwhile, The Old Line Trading Firm of Dewey Cheatham Burnham and Howe LEE ADLER 2 - TECHNICAL TRADER JUNE 7, 2021 Churn And Burn Picks off Stops But Two New Picks Join the List LEE ADLER 2 - TECHNICAL TRADER JUNE 6, 2021 Real Time Tax Data Shows Nirvana for Stocks and Bonds, But It’s Temporary LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS JUNE 5, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 LEE'S FREE THINKING Here’s Where Crypto Is Headed Today 6/10/21 by Lee Adler • June 10, 2021 • 0 Comments Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 Bears won the swing trade screen game yesterday, with 31 sell signals vs. 17 buy signals. 5 of the buys were fixed income ETFs. 2 of the sells were fixed income inverse ETFs. My head hurts. Let me say just say this about that. People buy fixed income today have big asspain in the Fall. This all compares with a 20-20 tie yesterday. Back on May 14 we had a surge of 153 buy signals to 6 sells. That showed thrust. It suggested a new bull swing phase. It never fully materialized but we still need to see substantially more sell signals to indicate a reverse thrust. The 5 day total is now 86 buys to 137 sells, a spread of -51. That compares with -43 yesterday. Creeping weakness? That trend was diminishing, but positive, since a peak reading of +218 on Thursday, May 20 until June 2. It slipped to the sell side on June 3 and has been weakening since then. The averages can keep climbing on the strength of fewer winners while other stocks languish, but don't sell off much. But there's a tipping point somewhere. Where? We don't know. This is new data since March. I continue to think that without a big thrust on the sell side, this pattern can continue as an apparent consolidation. I screen all stocks and ETFs from the NYSE and NASD, excluding those with less than an average of 1 million shares per day traded, and selling for less than $6 per share. The table below shows swing trade buy signals and sell signals from yesterday's action. The numbered columns represent the time frame of the support or resistance trend around which the signals were generated. Every weekend I use the previous week's screens to select charts that have potential for a move, and I post them for subscribers. Churn And Burn Picks off Stops But Two New Picks Join the List LEE ADLER 2 - TECHNICAL TRADER JUNE 6, 2021 Today's output is below. This is raw data. These are not recommendations. The data represent charts that have triggered short term signals near key cyclical support or resistance levels. Pick through these and see if there are any that you like using your own charts. Feel free to post your charts here with comments. The number 1 indicates that the condition is true. 0 is false. The numbers on the right half of the chart represent the time frames in days of the support or resistance areas where the signal was triggered. Symbol Buy Sell 500 200 125 50 AEMD.O 1 0 0% 0 1 0 AEP.O 1 0 0 0 1 0 AMGN.O 1 0 0 1 0 0 BAX 1 0 0 0 1 0 BKD 1 0 0 0 0 1 CLF 1 0 0 0 0 1 CRSP.O 1 0 0 0 0 1 IGIB.O 1 0 0 0 1 0 IUSB.O 1 0 0 0 1 0 JNJ 1 0 0 0 1 0 KPTI.O 1 0 0 0 0 1 MPW 1 0 0 0 1 1 SPLB.K 1 0 1 0 0 0 SPSB.K 1 0 0 0 0 1 VCIT.O 1 0 0 0 1 0 WEC 1 0 0 1 0 0 XLV 1 0 0 0 0 1 APPS.O 0 1 0 0 1 0 AVTR.K 0 1 0 0 0 1 AXTA.K 0 1 0 0 0 1 BHP 0 1 0 0 0 1 BHR 0 1 0 0 0 1 BKLN.K 0 1 0 0 1 0 BLMN.O 0 1 0 0 0 1 CNI 0 1 0 1 0 0 COTY.K 0 1 0 0 0 1 CPB 0 1 1 1 1 1 DISH.O 0 1 0 0 0 1 EL 0 1 0 0 0 1 FAST.O 0 1 0 0 0 1 FUBO.K 0 1 0 0 1 0 HOG 0 1 0 0 0 1 ICE 0 1 0 1 0 0 LYFT.O 0 1 0 0 1 0 MCHI.O 0 1 0 0 0 1 NYCB.K 0 1 0 0 0 1 ONB.O 0 1 0 0 0 1 RDFN.O 0 1 0 0 0 1 SHAK.K 0 1 0 1 0 0 SOL 0 1 0 0 0 1 SONO.O 0 1 0 0 1 0 SOXL.K 0 1 0 0 1 0 SQ 0 1 0 1 0 0 TBF 0 1 0 0 1 0 TBT 0 1 0 0 1 0 UMC 0 1 0 0 0 1 WIX.O 0 1 0 1 0 0 ZS.O 0 1 0 0 1 0 Totals 17 31 2 8 18 24 5 day Total 86 137 Spread -51 Here are a few sample charts from today's screen that look interesting. These are NOT RECOMMENDATIONS. They're interesting for different reasons. Feel free to comment. Click the chart to enlarge. Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 Bitcoin up 20% since yesterday's low. It's a bull market. Link to comment Share on other sites More sharing options...
Jimi Posted June 10, 2021 Report Share Posted June 10, 2021 See pee eye Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 BTC 5 day cycle projection now 38,700 Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 Well of course inflation is bullish. Everything is bullish. Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 2 hr bars Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 check dis shit out. Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 It's getting freakier. Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 2-3 day cycle projection 4248. Test that intraday high. Here we go again. Link to comment Share on other sites More sharing options...
PullMyFinger Posted June 10, 2021 Report Share Posted June 10, 2021 If you happen to enjoy a good 20% smackdown, you might look in the general direction of GME today. Link to comment Share on other sites More sharing options...
DrStool Posted June 10, 2021 Author Report Share Posted June 10, 2021 5 day cycle projection 4253 Link to comment Share on other sites More sharing options...
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