DrStool

Return to the scene of the crime. Will the perpetrator be caught?

Base breakout measures to 5070.

2-3 day cycle projection 5050.

2 hour bar lookyloo. Swing Trade Screen Picks – Perking a Long Swing Low Sweet Chariot

It's pretty simple today. The ES, 24 hour S&P futures must end the day above 5000 for starters. But to break out of all red channels, it would need to end above 5040. The hourly cycle oscillators are favorable for at least the first step. On the other hand, a close below 4990 would lead to interss Swing Trade Screen Picks – Perking a Long LEE ADLER 2 - TECHNICAL TRADER APRIL 22, 2024 The shrinking list did fine last week. Non-subscribers click here for access. Technical Trader subscribers click here to download the complete report. All 7 picks on the list to start the week last week were winners, including 3 that hit trailing stops. The average gain was 17.1% last week, up from 16.6% the week before. The average holding period was 35 calendar days, versus 34 calendar days in the prior week. That includes picks still open at the end of the week, plus those stopped out during the week. Past performance does not suggest future results. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! Swing Low Sweet Chariot LEE ADLER 2 - TECHNICAL TRADER APRIL 22, 2024 All cycles are in position to set up a swing low this week. It doesn’t guarantee that it will happen. It just means that the setup is propitious. Here are the signs and levels to watch this week to tell you whether it’s coming or, something worse. Non subscribers click here to access. Technical Trader subscribers click here to download the complete report. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! For moron the markets, see: Swing Trade Screen Picks – Perking a Long April 22, 2024 Swing Low Sweet Chariot April 22, 2024 One More Rally To Go April 17, 2024 Warning Signs Abound, But Ignore Them for Now April 16, 2024 March Withholding Tax Collections Actually Stunk April 5, 2024 Banking Data Says This Is Last Hurrah for Stocks April 3, 2024 The End Is Not Nigh March 26, 2024 Markets Create Money, Money Talks, Markets Listen Etc. March 12, 2024 If you are a new visitor to the Stool, 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 folder.

April isn't over yet. In some years the response to the buildup of liquidity is delayed by several weeks. The liquidity influx has just started. Warning Signs Abound, But Ignore Them for Now

This was the final triggered sell list from my screen of Wednesday's closing prices.

I'll have some more beans Mr. Taggart. I think you've had enough! One More Rally To Go

A big overnight selloff has been reversed in the early morning hours, half way through the European trading day, and 2 hours before NY opens. The ES 24 hour S&P futures have returned from a knife plunge, back to unchanged since the NY close. The selloff resulted in a 3 day cycle low. It also broke the potential positive divergence in hourly oscillators. While they've since turned upward, the lack of a positive divergence usually means at least a test of the low, or lower low ahead before a tradable low. So I would be on the lookout for that late today or Monday. A test of strength is dead ahead with a resistance convergence on the hourly chart in the 8-9 AM hour at 5005. If they clear that, then it should be onward and upward. If they turn tail at that point, look for that test of the low. One More Rally To Go For moron the markets, see: Warning Signs Abound, But Ignore Them for Now April 16, 2024 Swing Trade Screen Picks – List Shrinks With Good Profits April 15, 2024 No More Downside April 15, 2024 Back to the Gold Old Days 4/9/24 April 9, 2024 March Withholding Tax Collections Actually Stunk April 5, 2024 Banking Data Says This Is Last Hurrah for Stocks April 3, 2024 The End Is Not Nigh March 26, 2024 Markets Create Money, Money Talks, Markets Listen Etc. March 12, 2024 If you are a new visitor to the Stool, 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 folder.

Interesting that for the past few days there have been almost no final triggered signals on either side.

The market was down 2%. This list was down 4.8%. Since it was a list of shorts, that's a gain of 4.8% in one week . Pretty, pretty, pretty good. I chose one of them. I am an idiot. That will not happen again. I'm just gonna load the list from now on. No thinking!

Let's do a little experiment. I will show the list of the 33 sell triggers. So these are 33 shorts that could have been opened at Monday's open. Here are the results for the week as of 3:30 PM Friday, starting with Monday's opening price. ACWI.O 108.26 105.24 2.8% AI 22.19 20.84 6.1% AMH 35.79 35.09 2.0% APTV.K 74.45 69.23 7.0% ARKK.K 46.73 44.38 5.0% ARQT.O 10.18 9.65 5.2% AVDX.O 11.13 11.43 -2.7% DELL.K 119.46 117.88 1.3% DNLI.O 18.97 16.66 12.2% DYN.O 26.14 23.75 9.1% GEN.O 21.09 20.35 3.5% HCP.O 24.45 23.45 4.1% HST.O 20.14 18.60 7.6% KKR 98.81 93.85 5.0% KRE 46.85 46.05 1.7% MGNI.O 9.14 8.58 6.1% MRVL.O 71.25 65.54 8.0% NCLH.K 18.08 18.21 -0.7% NXPI.O 237.49 219.09 7.7% PK 17.24 16.12 6.5% PLD 115.18 104.22 9.5% PNC 152.40 147.57 3.2% PPL 26.83 26.57 1.0% QLD 86.40 79.17 8.4% QQQ.O 442.06 423.61 4.2% QQQM.O 181.89 174.29 4.2% RHI 72.35 69.65 3.7% SCHG.K 92.55 89.07 3.8% SHO 10.87 10.08 7.3% ST 34.87 33.86 2.9% TGTX.O 14.15 14.22 -0.5% TQQQ.O 60.20 52.81 12.3% VRNS.O 44.72 43.58 2.5% Avg 4.8% S&P 500 -2.0% 30 out of 33 winners. Showing how smart I am, I only picked ONE of the MFs to add to the list. Swing Trade Screen Picks – List Shrinks With Good Profits

Any time I allow my judgment to intervene against the pure results of the algorithm I only spent 55 years developing, the result is not good. Source: Swing Trade Screen Picks – List Shrinks With Good Profits So now the support levels are breaking, and I was too impressed with my opinion on the macro to get on the train and make money this week. The macro may yet prove right starting next week, but this was obviously a playable move and I chose not to play because I am so risk averse and I did not think a move lasting 3-4 days (my guess) was worth a shot. But at least the screening algo has proven itself yet again.

That was sarcasm. Just in case you're new around here. As if. 😂😂😂

One of my better calls. Timing was impeccable.