Pop and drop and stop. That’s the way it goes. Now the question is whether we get a 3 day cycle low. With the hourly oscillators around neutral an upturn from this level would probably be a blastoff. However, by the same token, if they fold here, we could finally see a decent correction as a 4 or 5 day wave plays out into a hard down phase. Not much to go on yet, so we wait. Why Sell in May and Go Away
In my personal daily swing trade stock screens today, I got 68 preliminary bullish trend structures and 32 bearish. That’s a little less bullish than yesterday’s readings. Today only 2 of the 68 buys triggered. 7 of the sells triggered. The numbers are too small to be meaningful, and I didn’t see anything compelling. However, there was an interesting thread on the sell side- oil and gas. Hmmmm. Swing Trade Screen Picks – No Way!
For moron the markets, see:
- Why Sell in May and Go Away May 14, 2024
- Swing Trade Screen Picks – No Way! May 13, 2024
- Higher But Narrow May 13, 2024
- Icing on the Gold Cake May 10, 2024
- April Tax Collections Soared May 4, 2024
- Gold Valley Rally May 3, 2024
- The Fed Doesn’t Matter Any More May 1, 2024
- Swing Trade Screen Picks – Hidden Gems April 29, 2024
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