Originally posted at Capitalstool, where we take a bottoms up approach to Wall Street.
Bulls won the screens yesterday with 22 swing trade buy signals and 8 sell signals. That compares with a 9 to 9 tie on Tuesday. Back on May 14 we had a surge of 153 buy signals to 6 sells. The reduction in the total number of signals is because there have been so many buy signals in the past two weeks that there are few left to trigger. And there’s no new wave of sell signals yet. So we’re still in the residual momentum stage of the surge on May 14.
That suggested a new bull swing phase. It hasn’t really materialized yet, and it feels like we’re at a now or never stage.
The 5 day total is now 125 buys to 39 sells, a spread of +87. That’s up from +65 yesterday. That trend was also diminishing, but positive, since a peak reading of +218 on Thursday, May 20. The surge of buy signals showed that bunch of stocks were set up for rallies, but it hasn’t shown up. Does it mean that a collapse is imminent? Probably not. But i’m not trying to anticipate with this. I’ll just follow the numbers as they develop.
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 |
| ANF | 1 | 0 | 0 | 0 | 0 | 1 |
| AEE | 1 | 0 | 0 | 0 | 0 | 1 |
| AEO | 1 | 0 | 0 | 0 | 0 | 1 |
| CPB | 1 | 0 | 0 | 1 | 1 | 0 |
| CTMX.O | 1 | 0 | 0 | 0 | 0 | 1 |
| EVRG.K | 1 | 0 | 0 | 0 | 0 | 1 |
| GPS | 1 | 0 | 0 | 0 | 0 | 1 |
| ISBC.O | 1 | 0 | 0 | 0 | 0 | 1 |
| IJR | 1 | 0 | 0 | 0 | 0 | 1 |
| JEF | 1 | 0 | 0 | 0 | 0 | 1 |
| KNX | 1 | 0 | 0 | 0 | 0 | 1 |
| LEVI.K | 1 | 0 | 0 | 0 | 0 | 1 |
| NLS | 1 | 0 | 0 | 0 | 0 | 1 |
| NKLA.O | 1 | 0 | 0 | 0 | 0 | 1 |
| OCGN.O | 1 | 0 | 0 | 0 | 0 | 1 |
| PRGO.K | 1 | 0 | 0 | 1 | 0 | 0 |
| REGI.O | 1 | 0 | 0 | 0 | 0 | 1 |
| SPTS.K | 1 | 0 | 0 | 0 | 1 | 0 |
| SYY | 1 | 0 | 0 | 0 | 0 | 1 |
| URBN.O | 1 | 0 | 0 | 0 | 0 | 1 |
| JETS.K | 1 | 0 | 0 | 0 | 0 | 1 |
| VET | 1 | 0 | 1 | 0 | 0 | 0 |
| AVTR.K | 0 | 1 | 0 | 0 | 0 | 1 |
| BKI | 0 | 1 | 1 | 0 | 0 | 0 |
| BXMT.K | 0 | 1 | 0 | 0 | 0 | 1 |
| CIEN.K | 0 | 1 | 0 | 0 | 1 | 0 |
| CLGX.K | 0 | 1 | 0 | 0 | 0 | 1 |
| PCY | 0 | 1 | 1 | 0 | 0 | 0 |
| RCM.O | 0 | 1 | 0 | 0 | 0 | 1 |
| XLU | 0 | 1 | 0 | 0 | 0 | 1 |
| Totals | 22 | 8 | 3 | 2 | 3 | 23 |
| 5 day Total | 126 | 39 | Spread | 87 |
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.
The Meat Grinder Prevails – Swing Trade Picks For Week of May 24, 2021
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Here are a few sample charts from today’s screen that look interesting. These are NOT RECOMMENDATIONS. They’re interesting for different reasons. Feel free to comment.
Click the chart to enlarge
