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Posted in Lee's Free Thinking

Bears Score A Win In the Swing Trade Screen Game 6/10/21

Originally posted at Capitalstool. 

Bears won the swing trade screen game yesterday, with 31 sell signals vs. 17 buy signals.  5 of the buys were fixed income ETFs. 2 of the sells were fixed income inverse ETFs. My head hurts.

Let me say just say this about that. People buy fixed income today have big asspain in the Fall.

This all compares with a 20-20 tie yesterday.

Back on May 14 we had a surge of 153 buy signals to 6 sells.  That showed thrust. It suggested a new bull swing phase. It never fully materialized but we still need to see substantially more sell signals to indicate a reverse thrust.

The 5 day total is now 86 buys to 137 sells, a spread of -51. That compares with -43 yesterday. Creeping weakness? That trend was diminishing, but positive, since a peak reading of +218 on Thursday, May 20 until June 2. It slipped to the sell side on June 3 and has been weakening since then. The averages can keep climbing on the strength of fewer winners while other stocks languish, but don’t sell off much. But there’s a tipping point somewhere. Where? We don’t know. This is new data since March.

I continue to think that without a big thrust on the sell side, this pattern can continue as an apparent consolidation.

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.

Churn And Burn Picks off Stops But Two New Picks Join the List

Today’s output is below. This is raw data. These are not recommendations. The data 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.

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
AEMD.O 1 0 0% 0 1 0
AEP.O 1 0 0 0 1 0
AMGN.O 1 0 0 1 0 0
BAX 1 0 0 0 1 0
BKD 1 0 0 0 0 1
CLF 1 0 0 0 0 1
CRSP.O 1 0 0 0 0 1
IGIB.O 1 0 0 0 1 0
IUSB.O 1 0 0 0 1 0
JNJ 1 0 0 0 1 0
KPTI.O 1 0 0 0 0 1
MPW 1 0 0 0 1 1
SPLB.K 1 0 1 0 0 0
SPSB.K 1 0 0 0 0 1
VCIT.O 1 0 0 0 1 0
WEC 1 0 0 1 0 0
XLV 1 0 0 0 0 1
APPS.O 0 1 0 0 1 0
AVTR.K 0 1 0 0 0 1
AXTA.K 0 1 0 0 0 1
BHP 0 1 0 0 0 1
BHR 0 1 0 0 0 1
BKLN.K 0 1 0 0 1 0
BLMN.O 0 1 0 0 0 1
CNI 0 1 0 1 0 0
COTY.K 0 1 0 0 0 1
CPB 0 1 1 1 1 1
DISH.O 0 1 0 0 0 1
EL 0 1 0 0 0 1
FAST.O 0 1 0 0 0 1
FUBO.K 0 1 0 0 1 0
HOG 0 1 0 0 0 1
ICE 0 1 0 1 0 0
LYFT.O 0 1 0 0 1 0
MCHI.O 0 1 0 0 0 1
NYCB.K 0 1 0 0 0 1
ONB.O 0 1 0 0 0 1
RDFN.O 0 1 0 0 0 1
SHAK.K 0 1 0 1 0 0
SOL 0 1 0 0 0 1
SONO.O 0 1 0 0 1 0
SOXL.K 0 1 0 0 1 0
SQ 0 1 0 1 0 0
TBF 0 1 0 0 1 0
TBT 0 1 0 0 1 0
UMC 0 1 0 0 0 1
WIX.O 0 1 0 1 0 0
ZS.O 0 1 0 0 1 0
Totals 17 31 2 8 18 24
5 day Total 86 137 Spread -51

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.

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