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Dull But Still Bull, Day 8

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This is the 8th day in the same 1% range. But higher lows and higher highs. Sport level to watch, 4190. Resistance 4210, and 4230. 

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Hourly cycle indicators are mixed and directionally neutral to slightly bullish. But they are below zero, so a downturn from here could get some teeth. If....

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Meanwhile, 

 

 

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Bulls won the screens yesterday with 30 swing trade buy signals and 24 sell signals, a tiny spread of +6.  That's a slight reversal from Friday's 22-13 bear victory, the first time the bears won one since May 19.

Back on May 14 we had a surge of 153 buy signals to 6 sells.  We're still in the residual momentum stage of that surge. That suggested a new bull swing phase. It hasn't really materialized yet. It keeps trying, but doesn't quite get there. We'd need a significant increase in sell signals to indicate a reverse thrust.

The 5 day total is now 119 buys to 77 sells, a spread of +42. That's still mildly bullish, but in steady decline. That trend has been 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? I'm beginning to wonder. 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.  

Every weekend I use the previous week's screens to select charts that have potential for a move, and I post them for subscribers. 

Volatility Subsides, But Range Remains, Picking off Stops

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
BBL 1 0 0 0 0 1
BHP 1 0 0 0 0 1
BILI.O 1 0 0 0 0 1
BLDR.O 1 0 0 0 1 0
BP 1 0 1 0 0 0
CHRW.O 1 0 0 0 0 1
CLDR.K 1 0 0 1 1 0
CPB 1 0 1 1 1 0
CRK 1 0 1 0 0 0
CVX 1 0 0 0 0 1
DELL.K 1 0 0 0 0 1
FXI 1 0 0 0 0 1
HBAN.O 1 0 0 0 0 1
HFC 1 0 1 0 0 0
ISBC.O 1 0 0 0 0 1
JKS 1 0 0 0 0 1
LX.O 1 0 1 0 0 0
MCHI.O 1 0 0 1 0 1
PBR 1 0 1 0 0 0
PEAK.K 1 0 0 0 0 1
PXD 1 0 0 0 0 1
RDSa 1 0 0 0 0 1
REGI.O 1 0 0 0 0 1
SABR.O 1 0 0 0 1 0
SID 1 0 0 0 0 1
T 1 0 0 0 1 0
W 1 0 0 0 0 1
WB.O 1 0 0 0 1 0
WES 1 0 0 0 0 1
YINN.K 1 0 0 0 0 1
ABT 0 1 0 1 0 0
AMD.O 0 1 0 0 0 1
AZPN.O 0 1 0 1 0 0
BKI 0 1 1 0 0 1
BYND.O 0 1 0 1 0 0
CGEN.O 0 1 0 0 0 1
DGX 0 1 0 0 0 1
HDB 0 1 0 0 1 0
HYG 0 1 0 0 0 1
HYLB.K 0 1 0 0 0 1
IGSB.O 0 1 0 0 1 0
INO.O 0 1 0 0 0 1
JNK 0 1 0 0 0 1
KPTI.O 0 1 0 0 0 1
MJ 0 1 0 0 1 0
PRVB.O 0 1 0 0 0 1
SHAK.K 0 1 0 1 0 0
SHYG.K 0 1 0 0 0 1
SJNK.K 0 1 0 0 1 0
SPAB.K 0 1 0 0 0 1
SPCE.K 0 1 0 0 1 0
SPSB.K 0 1 0 1 0 0
SPTL.K 0 1 0 0 0 1
TMO 0 1 0 1 1 1
Totals 30 24 7 9 12 33
5 day Total 119 77  Spread 42  

 

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.

Do we detect a theme here?

Click the chart to enlarge.

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32 minutes ago, GregFokker said:

Serious but ludicrous thought:  there's talk about upcoming Pentagon declassifications of UFO info this month.  Assuming that this happens, bullish??

Depends if they are buying or selling. 

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1 hour ago, DrStool said:

Below 4205 would hint right shoulder

We have our hint. But it's not complete unless it breaks 4191.  If it doesn't do that, then it's nothing. 

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Keep in mind that an apparent head and shoulders that doesn't break down often leads to a short squeeze. 

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