DrStool Posted May 27, 2021 Report Share Posted May 27, 2021 No, I'm not talking about being replaced by cryptonite currencies and MTA tokens, good only on the E, F, and T lines. I'm talking about this. A move below 4179 or above 4196 should trigger something beyond this plodding, lumbering, leaf eating, cud chewing monster. What, I don't know. At Capitalstool, things come out a little differently. 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, Stock Market Meat Grinder Running in an Uptrend LEE ADLER 2 - TECHNICAL TRADER MAY 24, 2021 The Meat Grinder Prevails – Swing Trade Picks For Week of May 24, 2021 LEE ADLER 2 - TECHNICAL TRADER MAY 23, 2021 Banking System Fragile As Fuse For Implosion Nears Ignition LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS MAY 23, 2021 Link to comment Share on other sites More sharing options...
DrStool Posted May 27, 2021 Author Report Share Posted May 27, 2021 Bulls won the screens yesterday with 22 swing trade buy signals and 8 sell signals. That compares with a 9 to 9 tie on Tuesday. Back on May 14 we had a surge of 153 buy signals to 6 sells. The reduction in the total number of signals is because there have been so many buy signals in the past two weeks that there are few left to trigger. And there's no new wave of sell signals yet. So we're still in the residual momentum stage of the surge on May 14. That suggested a new bull swing phase. It hasn't really materialized yet, and it feels like we're at a now or never stage. The 5 day total is now 125 buys to 39 sells, a spread of +87. That's up from +65 yesterday. That trend was also diminishing, but positive, since a peak reading of +218 on Thursday, May 20. The surge of buy signals showed that bunch of stocks were set up for rallies, but it hasn't shown up. Does it mean that a collapse is imminent? Probably not. But i'm not trying to anticipate with this. I'll just follow the numbers as they develop. 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. Here is today's output. 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 ANF 1 0 0 0 0 1 AEE 1 0 0 0 0 1 AEO 1 0 0 0 0 1 CPB 1 0 0 1 1 0 CTMX.O 1 0 0 0 0 1 EVRG.K 1 0 0 0 0 1 GPS 1 0 0 0 0 1 ISBC.O 1 0 0 0 0 1 IJR 1 0 0 0 0 1 JEF 1 0 0 0 0 1 KNX 1 0 0 0 0 1 LEVI.K 1 0 0 0 0 1 NLS 1 0 0 0 0 1 NKLA.O 1 0 0 0 0 1 OCGN.O 1 0 0 0 0 1 PRGO.K 1 0 0 1 0 0 REGI.O 1 0 0 0 0 1 SPTS.K 1 0 0 0 1 0 SYY 1 0 0 0 0 1 URBN.O 1 0 0 0 0 1 JETS.K 1 0 0 0 0 1 VET 1 0 1 0 0 0 AVTR.K 0 1 0 0 0 1 BKI 0 1 1 0 0 0 BXMT.K 0 1 0 0 0 1 CIEN.K 0 1 0 0 1 0 CLGX.K 0 1 0 0 0 1 PCY 0 1 1 0 0 0 RCM.O 0 1 0 0 0 1 XLU 0 1 0 0 0 1 Totals 22 8 3 2 3 23 5 day Total 126 39 Spread 87 This is raw data. These are not recommendations. They 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. Every weekend I use the previous week's screens to select charts that have potential for a move, and I post them for subscribers. The Meat Grinder Prevails – Swing Trade Picks For Week of May 24, 2021 LEE ADLER 2 - TECHNICAL TRADER MAY 23, 2021 You can see which ones I actually pick each week by subscribing to Technical Trader. Try it for 90 days risk free (first time subscribers). 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...
MisFit Kid Posted May 27, 2021 Report Share Posted May 27, 2021 New ATH for the USA Holiday.......? Seems to be a pattern...... Link to comment Share on other sites More sharing options...
Jorma Posted May 27, 2021 Report Share Posted May 27, 2021 They can't pull off a two day epic VIX crush to end the week and month can they? Seems ridiculous. Link to comment Share on other sites More sharing options...
DrStool Posted May 27, 2021 Author Report Share Posted May 27, 2021 Liftoff, but Dragon 1 is still hovering just above the launchpad. Link to comment Share on other sites More sharing options...
Jorma Posted May 27, 2021 Report Share Posted May 27, 2021 Why don't we see any patterns where the hind end of the Bronto is on the right? Link to comment Share on other sites More sharing options...
PullMyFinger Posted May 27, 2021 Report Share Posted May 27, 2021 They haven't let NQ in on the joke this morning. YM and ES are chortling though. Link to comment Share on other sites More sharing options...
MisFit Kid Posted May 27, 2021 Report Share Posted May 27, 2021 5 minutes ago, PullMyFinger said: They haven't let NQ in on the joke this morning. YM and ES are chortling though. Ms. Russell is Horse Bronto Laughing at it all...... Link to comment Share on other sites More sharing options...
DrStool Posted May 27, 2021 Author Report Share Posted May 27, 2021 2-3 day cycle projection 4209, done. Link to comment Share on other sites More sharing options...
DrStool Posted May 27, 2021 Author Report Share Posted May 27, 2021 26 minutes ago, MisFit Kid said: Ms. Russell is Horse Bronto Laughing at it all...... I refer you to: 4 hours ago, DrStool said: You can see which ones I actually pick each week by subscribing to Technical Trader. Try it for 90 days risk free (first time subscribers). Link to comment Share on other sites More sharing options...
DrStool Posted May 27, 2021 Author Report Share Posted May 27, 2021 S&P will celebrate the Fourth at 4500, where it will top out. Link to comment Share on other sites More sharing options...
DrStool Posted May 27, 2021 Author Report Share Posted May 27, 2021 Or maybe 4900. Or 5000. I don't know. Besides, what difference does it make. The crash will wipe it all away. Just like a roll of extra strength Charmin. Link to comment Share on other sites More sharing options...
potatohead Posted May 27, 2021 Report Share Posted May 27, 2021 18 minutes ago, DrStool said: Or maybe 4900. Or 5000. I don't know. Besides, what difference does it make. The crash will wipe it all away. Just like a roll of extra strength Charmin. Its all good....BIDEN BUDGET IS SET TO ASSUME THAT CAPITAL GAINS TAX RATE INCREASE STARTED IN LATE APRIL. - SOURCE. when the selling begins, capital gains tax will take its slice of the pie. $6 trillion budget.....what more could we ask for? Link to comment Share on other sites More sharing options...
Jimi Posted May 27, 2021 Report Share Posted May 27, 2021 6 minutes ago, potatohead said: Its all good....BIDEN BUDGET IS SET TO ASSUME THAT CAPITAL GAINS TAX RATE INCREASE STARTED IN LATE APRIL. - SOURCE. when the selling begins, capital gains tax will take its slice of the pie. $6 trillion budget.....what more could we ask for? Trying to understand this. If I sold a business with long term gains in March, I get old tax rate; but if sold it in April, I get new tax rate? Link to comment Share on other sites More sharing options...
PullMyFinger Posted May 27, 2021 Report Share Posted May 27, 2021 12 minutes ago, Jimi said: Trying to understand this. If I sold a business with long term gains in March, I get old tax rate; but if sold it in April, I get new tax rate? Maybe it is budget trickery to justify, well, something? Would they really make a tax rate increase retroactive? Link to comment Share on other sites More sharing options...
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