Bulls won yesterday’s screen game with 34 buy signals and 12 sell signals. That reverses Wednesday’s output. That score was 10 buys to 38 sells.
We’ve had a couple days of 45 to 56 sell signals over the past 10 days, But that’s still well below the the thrust of the 155 buy signals that started the 6 month cycle up phase back on March 28. That was the Big Kahuna. That wave has waned, but there’s no big counter wave yet.
The 5 day total is 101 buys to 127 sells. That’s a slight increase in buys since yesterday. Overall it is weak, but not intermediate term thrust territory. Good chart reading and picking should allow for gains in both directions. Bad reading and picking will lead to two way losses.
That’s the problem with rangebound markets. When it comes to swing trading, strong trends will cover for a multitude of sins. Trading ranges are meat grinders that can chew you up. This is when it pays to day trade, using very short time bars, measured in minutes.
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.
Out of Gas – Swing Trade Picks For Week of May 3, 2021
LEE ADLERHere is today’s output.
| Symbol | Buy | Sell | 500 | 200 | 125 | 50 |
| AER | 1 | 0 | 0 | 0 | 0 | 1 |
| AXL | 1 | 0 | 0 | 0 | 1 | 0 |
| ADI.O | 1 | 0 | 0 | 0 | 1 | 0 |
| AU | 1 | 0 | 0 | 0 | 0 | 1 |
| AM | 1 | 0 | 0 | 0 | 0 | 1 |
| AMAT.O | 1 | 0 | 0 | 0 | 0 | 1 |
| BAM | 1 | 0 | 0 | 0 | 0 | 1 |
| CZR.O | 1 | 0 | 0 | 0 | 0 | 1 |
| CPE | 1 | 0 | 0 | 0 | 0 | 1 |
| CERS.O | 1 | 0 | 1 | 0 | 0 | 0 |
| CXW | 1 | 0 | 0 | 0 | 0 | 1 |
| NUGT.K | 1 | 0 | 0 | 0 | 1 | 0 |
| LLY | 1 | 0 | 0 | 0 | 1 | 1 |
| ETRN.K | 1 | 0 | 0 | 0 | 1 | 0 |
| GT.O | 1 | 0 | 0 | 0 | 0 | 1 |
| IGT | 1 | 0 | 0 | 0 | 1 | 0 |
| HYG | 1 | 0 | 0 | 0 | 1 | 0 |
| EWI | 1 | 0 | 0 | 0 | 0 | 1 |
| KAR | 1 | 0 | 0 | 0 | 0 | 1 |
| LTHM.K | 1 | 0 | 0 | 0 | 0 | 1 |
| MXIM.O | 1 | 0 | 0 | 0 | 0 | 1 |
| NRG | 1 | 0 | 0 | 1 | 0 | 0 |
| SBH | 1 | 0 | 0 | 0 | 0 | 1 |
| SCCO.K | 1 | 0 | 0 | 0 | 1 | 0 |
| STLA.K | 1 | 0 | 0 | 0 | 0 | 1 |
| TMUS.O | 1 | 0 | 0 | 0 | 1 | 1 |
| TU | 1 | 0 | 0 | 0 | 0 | 1 |
| TMO | 1 | 0 | 0 | 0 | 0 | 1 |
| UBS | 1 | 0 | 0 | 0 | 1 | 0 |
| EMLC.K | 1 | 0 | 0 | 0 | 0 | 1 |
| GDXJ.K | 1 | 0 | 0 | 0 | 1 | 0 |
| BSV | 1 | 0 | 0 | 0 | 0 | 1 |
| WPM | 1 | 0 | 0 | 1 | 0 | 0 |
| HYLB.K | 1 | 0 | 0 | 0 | 1 | 0 |
| ALDX.O | 0 | 1 | 0 | 0 | 0 | 1 |
| CLVT.K | 0 | 1 | 0 | 0 | 1 | 0 |
| DRH | 0 | 1 | 0 | 0 | 0 | 1 |
| DLPN.O | 0 | 1 | 0 | 0 | 0 | 1 |
| EIX | 0 | 1 | 0 | 0 | 1 | 1 |
| EB | 0 | 1 | 0 | 0 | 0 | 1 |
| AG | 0 | 1 | 0 | 0 | 1 | 0 |
| HFC | 0 | 1 | 0 | 0 | 0 | 1 |
| MMP | 0 | 1 | 1 | 0 | 0 | 0 |
| PPL | 0 | 1 | 1 | 0 | 0 | 0 |
| SHOP.K | 0 | 1 | 0 | 1 | 0 | 0 |
| TCBI.O | 0 | 1 | 0 | 0 | 1 | 0 |
| Totals | 34 | 12 | 3 | 3 | 16 | 27 |
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.
Here are a few that look interesting. Again, these are NOT RECOMMENDATIONS
Click to enlarge
