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I believe that the behavior of the list in the last couple of weeks indicates a market undergoing major transition, where cyclical factors appear conducive to supporting external shock. But so far, this view has not manifest in the stock screens of most listed, actively traded stocks.
During the week ended Friday, March 13, out of 1899 stocks meeting institutional price and volume criteria, the screens produced the following results:
Cumulative lists of longer-term setups:
- 395 resting big gainers, up from 383 last week
- 434 sleeping dogs, up from 429 last week.
- 167 breakout charts last 9 months- up from 156 last week
- 121 breakdown charts last 9 months – up from 120
Weekly screens of cycle positions.
- 109 met strict major or intermediate trend buy setup criteria, down from 151. Of all bullish longer-term setups, 24 charts triggered short term buy signals, up from 18 the prior week (note this includes those that triggered since the beginning of the week).
- 42 met strict major or intermediate trend sell setup criteria, down from 42. Of all bearish longer-term setups, 10 charts triggered short term sell signals, up from 9 the prior week.
Table in subscriber report. Non subscribers, click here for access.