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Bears Win Yesterday’s Screen Game, Bulls Say It’s Just a Flesh Wound

Originally posted at Capitalstool. Reposted here with the kind permission of the publisher. 

Bears took yesterday’s screen game with 38 sell signals and 10 buy signals. That reverses Monday’s output, which I neglected to post. That score was 32 buys to 20 sells.

We’ve had a couple days of 45 to 56 sell signals over the past 10 days, But that’s still well below the the thrust of the 155 buy signals that started the 6 month cycle up phase back on March 28. That was the Big Kahuna. That wave has waned, but there’s no big counter wave yet.

The 5 day total is 84 buys to 127 sells. Weak, but not intermediate term thrust territory. Good chart reading and picking should allow for gains in both directions. Bad reading and picking will lead to two way losses. That’s the problem with rangebound markets. When it comes to swing trading, strong trends will cover for a multitude of sins. Trading ranges are meat grinders that can chew you up.

Just a flesh wound.

This is swing trade buy signals vs. sell signals from yesterday’s action.  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.

Here is today’s  output.

Symbol Buy Sell 500 200 125 50
CPB 1 0 0 0 1 0
CNI 1 0 0 0 1 0
CNC 1 0 0 0 1 0
CSTM.K 1 0 0 0 0 1
LABD.K 1 0 0 0 1 0
FTCH.K 1 0 0 1 0 0
MRVL.O 1 0 0 1 0 0
SHOP.K 1 0 0 0 1 1
BIV 1 0 0 0 0 1
VGIT.O 1 0 0 0 0 1
ALK 0 1 0 0 0 1
ARR 0 1 1 0 0 0
TEAM.O 0 1 0 0 1 0
AUPH.O 0 1 0 0 0 1
FNGU.K 0 1 0 0 1 1
BHC 0 1 0 0 0 1
BE 0 1 0 1 0 1
AVGO.O 0 1 0 0 1 0
CUK 0 1 1 0 0 0
SAVA.O 0 1 0 0 0 1
CLNE.O 0 1 0 0 1 0
DVAX.O 0 1 0 0 0 1
ETRN.K 0 1 0 1 0 1
EXPI.O 0 1 0 1 0 0
GM 0 1 0 0 0 1
GNTX.O 0 1 0 0 0 1
QYLD.O 0 1 0 0 0 1
IOVA.O 0 1 0 0 0 1
JBLU.O 0 1 0 0 0 1
JMIA.K 0 1 0 1 0 0
LFMD.O 0 1 0 1 0 0
M 0 1 0 0 0 1
MGNI.O 0 1 0 0 1 0
MAR.O 0 1 0 0 0 1
NIO 0 1 0 1 0 1
OCUL.O 0 1 0 0 0 1
PEB 0 1 0 0 0 1
PDD.O 0 1 0 1 0 0
QCOM.O 0 1 0 1 0 0
RCL 0 1 0 0 0 1
SAIL.K 0 1 0 1 0 0
SONO.O 0 1 0 0 0 1
XBI 0 1 0 1 0 1
SSYS.O 0 1 0 1 0 0
SPWR.O 0 1 0 1 0 0
VIAC.O 0 1 0 1 0 0
WRAP.O 0 1 1 0 0 0
XRX 0 1 1 0 0 0
Totals 10 38 4 15 10 25

You can see which ones I actually pick each week by subscribing to Technical Trader. 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 from your own charts. Feel free to post your charts here with comments.

Get ’em While They’re Hot – Swing Trade Picks For Week of April 26, 2021

Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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