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Screen results this week fly in the face of liquidity and broad market technical markers that signal caution. Both views can be right with the difference being in the timing. Therefore, I will lean into the screens for the time being, but be ready to reverse course if the signals change next week or in subsequent weeks.
But poor list performance over the past couple of weeks suggests that false signals and misleading setups, leading to whipsaws, are predominant. That is often a sign of pending market reversal. Use due caution in your review of the information in this report.
During the week ended Wednesday, July 16, out of 1709 stocks meeting institutional price and volume criteria:
Setups:
173 met major or intermediate trend buy setup criteria.
232 met major or intermediate trend sell setup criteria.
But zero of the sell setups triggered short term sell signals. 68 of the buys did, of which 4 charts were interesting enough to add to the list.
Table of picks and charts in subscriber report.
Non subscribers here for access.