While the market averages edged to new highs last week, that’s deceptive as most stocks stayed rangebound. That’s a death trap for swing trades, and it depressed performance for a third straight week.
This Friday’s screens were bearish, with 12 buy signals and 28 sell signals. That suggests some downside ahead but so far in the pre market, the bulls are in charge. I liked the setups on two of the charts. One was a short xxxx (subscribers only). The other was a long, xxxx. I’ll add those to the list as of Monday’s opening prices. Charts below.
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