DrStool Posted June 4, 2021 Report Share Posted June 4, 2021 This morning, it looks like the market wants to build a second right shoulder on the ES fucutures in symmetry with the left side of the current head and shoulders structure. Any rollover below 4213 would favor the bears. By the same token, it would be meaningless if it doesn't break yesterday's low of 4165. First they need to break the trendline now (6:30 AM New York time) at 4177 going up about 1 point per hour. 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, Dull as Hell, And Still Bull LEE ADLER 2 - TECHNICAL TRADER MAY 31, 2021 Volatility Subsides, But Range Remains, Picking off Stops LEE ADLER 2 - TECHNICAL TRADER MAY 29, 2021 Here’s Why the Treasury Paydowns Aren’t As Bullish As Expected LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS MAY 28, 2021 Link to comment Share on other sites More sharing options...
Volatility Subsides, But Range Remains, Picking off Stops LEE ADLER 2 - TECHNICAL TRADER MAY 29, 2021
Here’s Why the Treasury Paydowns Aren’t As Bullish As Expected LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS MAY 28, 2021
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 Bears won the screens yesterday, bigtime. There were just 9 swing trade buy signals versus 52 sell signals, a spread of -43. The bears also won Wednesday, with 27 sells vs 21 buys. It's not thrust level yet, but bears seem to be coming out of hibernation. 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'd need to see substantially more sell signals to indicate a reverse thrust. The 5 day total is now 118 buys to 139 sells, a spread of -21. That's the first negative number since I started keeping track of this stat in April. That trend was 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. They tried, but kept running out of momentum. 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. These numbers are barely negative but, tor the first time in a long time, the benefit of the doubt goes to the sell side. 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 LEE ADLER 2 - TECHNICAL TRADER MAY 29, 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 MO 1 0 0 0 0 1 CLGX.K 1 0 0 0 0 1 ESTC.K 1 0 0 0 0 1 EXEL.O 1 0 0 0 1 0 FSR 1 0 0 0 0 1 GEO 1 0 0 0 0 1 NTAP.O 1 0 0 0 0 1 PNW 1 0 0 0 0 1 SKX 1 0 0 0 0 1 DDD 0 1 0 0 1 0 AER 0 1 0 0 0 1 ARKF.K 0 1 0 1 0 0 TEAM.O 0 1 0 0 1 0 AUPH.O 0 1 0 1 0 0 ADSK.O 0 1 0 1 0 0 BBY 0 1 0 0 0 1 BBL 0 1 0 0 0 1 BNGO.O 0 1 0 0 0 1 BLNK.O 0 1 0 0 0 1 BSX 0 1 0 0 0 1 GOOS.K 0 1 0 0 1 1 CPRI.K 0 1 0 0 0 1 PRTS.O 0 1 0 0 1 0 CS 0 1 1 0 0 0 ENPH.O 0 1 0 0 0 1 EQC 0 1 1 0 0 0 GPRO.O 0 1 0 0 0 1 HLT 0 1 0 0 0 1 HIMX.O 0 1 0 0 1 0 IR 0 1 0 0 0 1 INO.O 0 1 0 0 0 1 QQQ.O 0 1 0 0 0 1 SHYG.K 0 1 0 0 0 1 LQD 0 1 1 0 0 0 MCHI.O 0 1 0 1 0 0 IWF 0 1 0 0 0 1 IVW 0 1 0 0 0 1 JBLU.O 0 1 0 0 0 1 LVS 0 1 0 0 1 0 MOMO.O 0 1 0 1 0 1 PAAS.O 0 1 0 1 1 1 QLD 0 1 0 0 0 1 ROKU.O 0 1 0 0 0 1 SCCO.K 0 1 0 0 1 0 LUV 0 1 0 0 0 1 SPAB.K 0 1 0 0 0 1 SPTL.K 0 1 0 0 0 1 SPYG.K 0 1 0 0 0 1 SPTS.K 0 1 0 1 0 0 XHB 0 1 0 0 0 1 STM 0 1 0 1 0 0 SYK 0 1 0 0 0 1 XLK 0 1 0 0 0 1 TPX 0 1 0 0 0 1 UMC 0 1 0 0 0 1 USFD.K 0 1 0 0 0 1 BND.O 0 1 0 0 0 1 WB.O 0 1 0 0 1 0 WY 0 1 0 0 0 1 WSC.O 0 1 0 0 0 1 HYLB.K 0 1 0 0 0 1 Totals 9 52 3 8 10 44 5 day Total 118 139 Spread -21 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...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 Despite what the screens say, and despite the apparent top pattern, this trend still looks bullish to me. The first test of that will be whether they roll over below or get through 4202. Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 Woop, there it is. Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 5 day cycle projection 4238 Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 4, 2021 Report Share Posted June 4, 2021 Must be Friday....... All that is needed to be said........ >: Kermit the Frog Friday.........~ Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 Fed Fertility Friday. Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 Yet another green channel. It has gotten so bad, I forget to draw the red channels until after they're broken. Link to comment Share on other sites More sharing options...
potatohead Posted June 4, 2021 Report Share Posted June 4, 2021 These employment numbers have become a joke. Obvious painting the tape. Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 Looking at a 2-3 day cycle projection around 3237. Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 53 minutes ago, potatohead said: These employment numbers have become a joke. Obvious painting the tape. They're too low. Report coming. Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 5 day cycle projection 4247. Link to comment Share on other sites More sharing options...
MisFit Kid Posted June 4, 2021 Report Share Posted June 4, 2021 3 hours ago, potatohead said: These employment numbers have become a joke. Obvious painting the tape. The Milgram Experiment Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2021 Author Report Share Posted June 4, 2021 Have a great weak end! Link to comment Share on other sites More sharing options...
Jimbo Posted June 5, 2021 Report Share Posted June 5, 2021 TEN YEAR BOND YIELD Should be around 7%. How much more punishment are bond holders going to take. The FED will be the only bond buyer soon. I note that the ULTRAPRO SHORT 20+ YEAR TREASURY ETF has returned 50% over the past year!!!!!!!! The smart money play is still short the long bond. And long hard assets financed with cheap long term debt i.e. long inflation. The panic move from long bond ETF's into short bond ETFs continues. But you still lose the inflation rate each year on short bonds as well. Still a losing trade. Link to comment Share on other sites More sharing options...
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