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Bears Won Monday’s Screen Game 37 to 9, Table and Sample Charts

Originally posted at Capitalstool.com. Join the discussion.

Bears won yesterday’s screen game with 37 sell signals and 9 buy signals. That compares with Friday’s  70 buys to 10 sells.  The 5 day totals are 145 buys and 113 sells. The net positive of +32 is less than Friday’s +72. It’s  not enough to signal a big downturn. I therefore regard the selling from yesterday and overnight with suspicion.

We  had a couple days of 45 to 56 sell signals over the past two weeks. But that was 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. If today’s selling is sustained, then it’s possible that this is it. But another rebound would keep the up thingy going.

This is the problem with rangebound markets. Swing frequency increases, duration decreases. Amplitude can go either way. At the moment, it has increased, and that appears to be a trend. Day traders using intraday minute based charts can cope, and even do very well, with shorter duration, i.e. greater frequency, and increasing amplitude.  But for those with a long term horizon, say, two weeks, it’s very tough.

Yeah, two weeks is long term.

On Friday I wrote, “I wouldn’t be surprised to see some of these sell signals turn into buy signals today or Monday. Or vice versa.” It’s the day trader’s Lord’s Prayer. Give us this day our daily reversal.

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.

Second Wind – Swing Trade Picks For Week of May 10, 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 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
ABT 1 0 0 0 0 1
CERN.O 1 0 0 0 1 0
GE 1 0 0 0 0 1
HRTX.O 1 0 0 0 0 1
LYV 1 0 0 0 1 0
MLCO.O 1 0 1 0 1 0
PLYA.O 1 0 0 0 0 1
PPL 1 0 1 0 0 1
TX 1 0 0 0 0 1
AMRS.O 0 1 0 0 1 0
APTV.K 0 1 0 0 0 1
ACB 0 1 0 1 0 1
AVGO.O 0 1 0 0 1 0
BPY.O 0 1 0 0 0 1
CPE 0 1 0 0 0 1
CUK 0 1 0 0 0 1
CRON.O 0 1 1 0 0 0
SOXL.K 0 1 0 0 1 0
DVAX.O 0 1 0 0 0 1
QYLD.O 0 1 0 0 0 1
GPRO.O 0 1 0 0 0 1
GRPN.O 0 1 0 0 0 1
HIMX.O 0 1 0 0 0 1
IEI.O 0 1 1 0 0 0
AAXJ.O 0 1 0 0 1 0
KLAC.O 0 1 0 0 0 1
MBT 0 1 0 1 0 0
OXY 0 1 0 0 0 1
PK 0 1 0 0 0 1
PYPL.O 0 1 0 0 0 1
PCG 0 1 1 0 0 0
PUMP.K 0 1 0 0 0 1
RIOT.O 0 1 0 0 1 0
SRPT.O 0 1 0 0 0 1
SPLB.K 0 1 1 0 0 0
SQ 0 1 0 0 1 1
TSM 0 1 0 0 0 1
FTI 0 1 0 0 1 0
TSLA.O 0 1 0 0 0 1
TCOM.O 0 1 0 0 0 1
SMH.O 0 1 0 0 0 1
VCLT.O 0 1 1 0 0 0
VG.O 0 1 0 0 1 0
XSOE.K 0 1 0 0 1 0
XRX 0 1 1 0 0 0
YNDX.O 0 1 0 1 0 0
Totals 9 37 8 3 12 27

 

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.

Here are a few that look interesting. Again, these are NOT RECOMMENDATIONS.  
Click the chart to enlarge

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Because it’s Tesla
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Dicsucs

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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