This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
Why do I say that?
First, a solid majority of signals from my daily technical stock screens of 9000 issues on the NYSE and Nadsacs were bearish. I have learned not to argue with the data.
I might not read it correctly. I might interpret it wrong, but I know not to argue with it. You can’t fool Mother Data.
Today’s screen had 8 buys and 29 sells. One of the buys was an inverse fund. Therefore, only 7 of the 37 signals were bullish. 30 were bearish. I’ll pick a few of these to add to my personal trading ready list for today.
Here’s the raw data. These are not recommendations. If you’re interested, take a look at these in your own charts. I report. You decide. 😀
| Symbol | Buy | Sell | 500 | 200 | 125 | 50 |
| AZN.O | 1 | 0 | 1 | 0 | 0 | 0 |
| KO | 1 | 0 | 0 | 1 | 0 | 0 |
| FIVN.O | 1 | 0 | 0 | 0 | 1 | 0 |
| GLPI.O | 1 | 0 | 0 | 0 | 0 | 1 |
| GILD.O | 1 | 0 | 0 | 1 | 0 | 0 |
| ZSL | 1 | 0 | 0 | 0 | 0 | 1 |
| SIRI.O | 1 | 0 | 0 | 0 | 0 | 1 |
| TOL | 1 | 0 | 0 | 0 | 0 | 1 |
| APTV.K | 0 | 1 | 0 | 0 | 0 | 1 |
| AZUL.K | 0 | 1 | 0 | 0 | 0 | 1 |
| BLDP.O | 0 | 1 | 0 | 0 | 1 | 0 |
| CCL | 0 | 1 | 1 | 0 | 0 | 0 |
| CNP | 0 | 1 | 1 | 0 | 0 | 0 |
| DHT | 0 | 1 | 1 | 0 | 0 | 0 |
| EBAY.O | 0 | 1 | 0 | 0 | 0 | 1 |
| EVRI.K | 0 | 1 | 0 | 0 | 0 | 1 |
| GOL | 0 | 1 | 0 | 1 | 0 | 0 |
| GRWG.O | 0 | 1 | 0 | 0 | 0 | 1 |
| INFN.O | 0 | 1 | 0 | 0 | 0 | 1 |
| PGX | 0 | 1 | 0 | 0 | 0 | 1 |
| FXI | 0 | 1 | 0 | 0 | 1 | 0 |
| EWZ | 0 | 1 | 0 | 0 | 1 | 0 |
| YY.O | 0 | 1 | 0 | 0 | 0 | 1 |
| KMPH.O | 0 | 1 | 0 | 1 | 0 | 0 |
| LHX | 0 | 1 | 1 | 0 | 0 | 0 |
| MRVL.O | 0 | 1 | 0 | 0 | 1 | 0 |
| NLS | 0 | 1 | 0 | 1 | 0 | 0 |
| PCG | 0 | 1 | 1 | 0 | 0 | 1 |
| MINT.K | 0 | 1 | 0 | 1 | 0 | 0 |
| PLNT.K | 0 | 1 | 0 | 0 | 0 | 1 |
| PPL | 0 | 1 | 1 | 0 | 0 | 0 |
| AGQ | 0 | 1 | 0 | 1 | 1 | 0 |
| RRC | 0 | 1 | 0 | 0 | 0 | 1 |
| RP.O | 0 | 1 | 0 | 0 | 0 | 1 |
| SNY.O | 0 | 1 | 0 | 1 | 0 | 0 |
| SO | 0 | 1 | 1 | 0 | 1 | 0 |
| YNDX.O | 0 | 1 | 0 | 0 | 1 | 0 |
| Totals | 8 | 29 |
On the weekend, after I eyeball the screen output in my own charts, I pick a few to add to the swing trade chart picks list in Liquidity Trader. Then I track them until they hit their closeout signal. They are like trailing stops, based on programmed cycle lines. I also post and update those each week.
Here’s an example of one of my charts. I’ll just pick the first one. Happens to be Astra Zeneca, which had a little news yesterday. I ignore news based signals, usually, but not always. It depends on the overall structure of the pattern. But I also avoid anything to do with pharmaceuticals or biotech. Too many surprises, that don’t get telegraphed in the prior chart patterns. And many of them aren’t good surprises like AZN had yesterday.
Anyway, this POS has some work to do before proving that it has broken and emerged from its downtrend.
Click to enlarge
At 6:40 AM in New York, the ES fucutures were heading for a test of a key support juncture around 3905. If that holds, bulls get another shot to run. They’d have room too. The next overhead resistance level is around 3944.
On the downside, there are multiple potential support levels every 5 points or so down to 3890. If they do break 3905, it looks like a bouncy ride downhill.
Click to enlarge
If you are a new reader, please register and join in.
To post your observations, 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, Liquidity Trader Presents for your listening and dining pleasure:
Faint Hope, or Just a Feint, for Gold
A Little Pullback with Big Implications
This Trend of Bank Deposits Should Scare the Hell Out of You
The Day of Reckoning Is Upon Us
Join the conversation and have a little fun at Capitalstool.com. 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 filter.
