The tally on my daily technical stock screens of 9000 issues on the NYSE and Nadsacs was 20 swing trade buy signals and 24 sells. Of the 20 buys, 2 were inverse ETFs. Therefore 26 of the 44 signals were bearish. 18 were bullish. That’s the best bullish side showing since the signals flipped to bearish 8 days ago.
Yesterday there were just 13 bullish signals and 60 bearish. To that extent the rally was a disappointing surprise. But the screens are looking for signals with a horizon of a couple of weeks, not next day. So we’ll see how this works out. I’m not ready to call it a FAIL just yet.
I use these screens to pick stocks for my ready list for my personal trading, and also for my weekly swing trade chart picks for Technical Trader subscribers. I developed the algorithm to hunt for stocks that looked primed to have a good move, ideally over a period of 4 weeks. In practice they range from 1 week to 7 weeks. I consider the move finished when they break trend support, using the indicators from which the screen program is constructed.
I run the screens on stocks that have been trading more than 1 million shares per day and are trading above $6. There are normally between 30 and 100 results, depending on where we are in the cycle. There are more signals at cyclical turning point’s and fewer as a move progresses.
From the screen output I visually review the charts. I make my picks from that review.
There are usually between 2 and 8 good looking setups every day. The numbers are bigger around intermediate term turning points. I put these in my ready to trade list each morning, and continue tracking them daily for that purpose until a reversal signal. On the weekends, I pick the best of that screen to add to the swing trade chart picks in the Technical Trader reports.
Here’s today’s raw data. These are not recommendations. If you’re interested, take a look at these in your own charts. I report. You decide. 😀
| Symbol | Buy | Sell | 500 | 200 | 125 | 50 |
| AROC.K | 1 | 0 | 0 | 0 | 0 | 1 |
| ATUS.K | 0 | 1 | 0 | 0 | 1 | 1 |
| AVGO.O | 0 | 1 | 0 | 0 | 0 | 1 |
| AY.O | 1 | 0 | 0 | 1 | 0 | 0 |
| CDMO.O | 0 | 1 | 0 | 0 | 0 | 1 |
| CHGG.K | 0 | 1 | 0 | 0 | 1 | 0 |
| COG | 1 | 0 | 1 | 1 | 0 | 0 |
| CRIS.O | 1 | 0 | 0 | 0 | 0 | 1 |
| CSIQ.O | 0 | 1 | 0 | 0 | 1 | 0 |
| EXAS.O | 0 | 1 | 0 | 0 | 1 | 0 |
| FATE.O | 0 | 1 | 0 | 0 | 1 | 0 |
| FPE | 0 | 1 | 0 | 0 | 0 | 1 |
| FSLR.O | 0 | 1 | 0 | 1 | 0 | 0 |
| FSR | 1 | 0 | 0 | 0 | 0 | 1 |
| FTCH.K | 0 | 1 | 0 | 0 | 1 | 0 |
| GLNG.O | 0 | 1 | 0 | 0 | 0 | 1 |
| ICE | 1 | 0 | 0 | 0 | 0 | 1 |
| IEZ | 1 | 0 | 0 | 0 | 0 | 1 |
| IMGN.O | 1 | 0 | 0 | 0 | 0 | 1 |
| KWEB.K | 0 | 1 | 0 | 0 | 1 | 0 |
| LTHM.K | 1 | 0 | 0 | 0 | 1 | 0 |
| MAXR.K | 1 | 0 | 0 | 0 | 1 | 0 |
| MCHP.O | 0 | 1 | 0 | 0 | 0 | 1 |
| NTRA.O | 0 | 1 | 0 | 0 | 1 | 0 |
| NUAN.O | 0 | 1 | 0 | 0 | 1 | 0 |
| NVDA.O | 0 | 1 | 0 | 1 | 0 | 0 |
| OCGN.O | 1 | 0 | 0 | 0 | 0 | 1 |
| OI | 1 | 0 | 0 | 0 | 1 | 0 |
| PANW.K | 1 | 0 | 0 | 0 | 1 | 0 |
| PRTS.O | 1 | 0 | 0 | 0 | 1 | 0 |
| QDEL.O | 0 | 1 | 1 | 0 | 0 | 0 |
| RNG | 0 | 1 | 0 | 1 | 0 | 0 |
| SMAR.K | 0 | 1 | 0 | 0 | 1 | 0 |
| SNY.O | 1 | 0 | 0 | 0 | 1 | 0 |
| SOXX.O | 0 | 1 | 0 | 0 | 0 | 1 |
| SQ | 0 | 1 | 0 | 0 | 1 | 0 |
| SQQQ.O | 1 | 0 | 0 | 0 | 0 | 1 |
| SRNE.O | 0 | 1 | 0 | 1 | 1 | 0 |
| TDC | 1 | 0 | 0 | 0 | 0 | 1 |
| TECS.K | 1 | 0 | 0 | 0 | 0 | 1 |
| TSLA.O | 0 | 1 | 0 | 0 | 1 | 0 |
| TTCF.O | 0 | 1 | 0 | 1 | 0 | 0 |
| VERI.O | 1 | 0 | 0 | 0 | 1 | 0 |
| WEC | 1 | 0 | 0 | 0 | 1 | 0 |
| Totals | 20 | 24 |
Here’s an example of one of my charts. It’s just alphabetically the first among the buys, not a recommendation. 
Click to enlarge.
It’s not an ideal setup and this is an early signal. But it has the potential for a 10-15% move over the next couple of weeks.If it then got through the trend channel centerline, that’s where you could see a nice extended run.
As for right here, it also has obvious support just below the current price. So if I was going to give this a shot, I’d have a good idea where to set the protective stop to take me out.
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post.
