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Bulls Won Again – Screen Game 5/7/21

Bulls won yesterday’s screen game with 22 buy signals and 16 sell signals. That compares with Wednesday’s  34 buys to 12 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 107 buys to 132 sells. That’s a slight increase in both buys and sells vs. yesterday. The net differential is little changed. Overall the numbers are 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.

This is the problem with rangebound markets. Swing frequency increase, duration decreases. Amplitude can go either way. Very tough to trade when your time frame is a couple of weeks. Day traders using intraday minute based charts can cope, and even do very well. But for those with a long term horizon, say, two weeks, it’s very tough.

Yeah, two weeks is long term.

I wouldn’t be surprised to see some of these sell signals turn into buy signals today or Monday. Or vice versa.

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.

Out of Gas – Swing Trade Picks For Week of May 3, 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
ATVI.O 1 0 0 0 0 1
AGI 1 0 0 0 1 0
AMX 1 0 0 0 1 0
AMGN.O 1 0 0 0 0 1
BLUE.O 1 0 0 0 0 1
CSCO.O 1 0 0 0 0 1
SBS 1 0 0 0 0 1
EIX 1 0 0 1 0 0
EMR 1 0 0 0 0 1
SILJ.K 1 0 0 1 1 1
ES 1 0 1 0 1 1
QYLD.O 1 0 0 1 0 0
GOL 1 0 0 0 1 0
GFI 1 0 0 0 0 1
SHY.O 1 0 0 0 0 1
NEE 1 0 0 1 0 1
NVS 1 0 0 0 0 1
PCAR.O 1 0 0 1 0 0
PVG 1 0 0 0 1 1
VCSH.O 1 0 0 0 0 1
VTEB.K 1 0 0 0 1 0
W 1 0 0 1 0 0
AVYA.K 0 1 0 0 0 1
CAH 0 1 0 0 0 1
CTSH.O 0 1 0 0 1 1
APPS.O 0 1 0 0 1 0
IIVI.O 0 1 0 1 0 0
IMGN.O 0 1 0 0 1 0
MMP 0 1 1 0 0 0
MLCO.O 0 1 0 0 1 0
NNDM.O 0 1 0 1 0 0
ROL 0 1 0 1 0 0
TWO 0 1 0 0 0 1
UNIT.O 0 1 0 0 0 1
VXRT.O 0 1 0 0 1 0
VET 0 1 1 0 0 0
VERU.O 0 1 0 0 1 0
YELL.O 0 1 0 0 0 1
Totals 22 16 3 9 13 20

 

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

 lick to enlarge

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

Out of Gas – Swing Trade Picks For Week of May 3, 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).

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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