This is really bizarre. Bulls won yesterday’s screen game by 32 to 15. This compares with Monday’s 27 to 8 bull win, which came on top of a 153 to 6 bull stampede on Friday, which suggested a new bull swing phase.
The 5 day total is 252 buys to 86 sells, a spread of +166. That’s up from +144 yesterday.
And yet the market slides. I don’t get it. Admittedly, using these short term signal screens as a market indicator is a new thing, but in theory, it should work. I’ve been doing this stuff for over 50 years and have a pretty good feel for what works in TA and what doesn’t. But there may be a logical flaw in this method that I haven’t recognized yet. As Professor Lawrence Berra said, “In theory, there’s no difference between theory and practice. In practice, there is.”
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.
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 | 1 | 0 |
| AEP.O | 1 | 0 | 1 | 0 | 0 | 1 |
| ASX | 1 | 0 | 0 | 0 | 1 | 0 |
| CPE | 1 | 0 | 0 | 0 | 0 | 1 |
| SAVA.O | 1 | 0 | 0 | 0 | 0 | 1 |
| CLGX.K | 1 | 0 | 0 | 0 | 0 | 1 |
| YINN.K | 1 | 0 | 1 | 0 | 0 | 0 |
| EXAS.O | 1 | 0 | 1 | 0 | 0 | 0 |
| FUTU.O | 1 | 0 | 0 | 0 | 1 | 0 |
| GRPN.O | 1 | 0 | 0 | 0 | 1 | 0 |
| HMC | 1 | 0 | 0 | 0 | 0 | 1 |
| PGX | 1 | 0 | 0 | 1 | 0 | 0 |
| EWH | 1 | 0 | 0 | 0 | 0 | 1 |
| EWY | 1 | 0 | 0 | 0 | 1 | 0 |
| EWT | 1 | 0 | 0 | 0 | 1 | 0 |
| LSCC.O | 1 | 0 | 0 | 0 | 1 | 0 |
| MAC | 1 | 0 | 1 | 0 | 0 | 0 |
| MBT | 1 | 0 | 1 | 0 | 0 | 0 |
| NCLH.K | 1 | 0 | 1 | 0 | 0 | 0 |
| OSTK.O | 1 | 0 | 0 | 1 | 1 | 1 |
| PAAS.O | 1 | 0 | 0 | 1 | 1 | 1 |
| PGRE.K | 1 | 0 | 0 | 0 | 0 | 1 |
| REKR.O | 1 | 0 | 0 | 1 | 0 | 0 |
| SVC.O | 1 | 0 | 0 | 1 | 0 | 0 |
| SPEM.K | 1 | 0 | 0 | 0 | 0 | 1 |
| SMFG.K | 1 | 0 | 0 | 0 | 0 | 1 |
| TCOM.O | 1 | 0 | 0 | 0 | 0 | 1 |
| UNFI.K | 1 | 0 | 0 | 0 | 0 | 1 |
| VWO | 1 | 0 | 0 | 0 | 0 | 1 |
| VG.O | 1 | 0 | 0 | 0 | 1 | 1 |
| WMT | 1 | 0 | 0 | 0 | 1 | 0 |
| ZTO | 1 | 0 | 0 | 1 | 0 | 0 |
| AEM | 0 | 1 | 0 | 1 | 0 | 0 |
| BCS | 0 | 1 | 0 | 0 | 0 | 1 |
| GLW | 0 | 1 | 0 | 0 | 0 | 1 |
| GE | 0 | 1 | 0 | 0 | 0 | 1 |
| USIG.O | 0 | 1 | 0 | 0 | 0 | 1 |
| IUSB.O | 0 | 1 | 0 | 0 | 0 | 1 |
| IAU | 0 | 1 | 0 | 1 | 0 | 0 |
| KMB | 0 | 1 | 0 | 0 | 1 | 0 |
| PUMP.K | 0 | 1 | 0 | 0 | 0 | 1 |
| RDSa | 0 | 1 | 1 | 0 | 0 | 0 |
| GLD | 0 | 1 | 0 | 1 | 0 | 0 |
| SPLB.K | 0 | 1 | 0 | 0 | 0 | 1 |
| FTI | 0 | 1 | 0 | 0 | 1 | 0 |
| VCLT.O | 0 | 1 | 0 | 0 | 0 | 1 |
| VET | 0 | 1 | 1 | 0 | 0 | 0 |
| Totals | 32 | 15 | 8 | 9 | 13 | 23 |
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.
Every weekend I use the previous week’s screens to select charts that have potential for a move, and I post them for subscribers.
Dodging Bullets – Swing Trade Picks For Week of May 17, 2021
LEE ADLER
