For a second straight week, more than half the stocks in the market generated short-term signals on Friday. 350 short term buy signals and 390 sell signals triggered, out of the 1426 stocks that met minimum price and volume criteria. Like the previous week, they were again nearly evenly divided between buy and sell signals with a slight edge to the sell side. The market averages are climbing but many stocks are not. Non-subscribers click here for access.
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After applying long term structure filters there were 24 buys and 35 sells. In other words, less than 10% of the short-term signals that appeared to have the potential for bigger moves. I added 4 buys because they appeared to be ready to emerge from nice bases. I’ll give them a couple of weeks to swim or sink. Non-subscribers click here for access.
I added one short. Non-subscribers click here for access.
Chart picks tracking table and charts, below. Non-subscribers click here for access.
Past performance does not suggest future results.
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The strategy and tactics opinions expressed in this report illustrate one particular approach to trading. No representation is made that it is the best approach, or even suitable for any particular investor. This is a developmental and experimental exercise, for the purpose of providing experienced chart traders with ideas and concepts to use or not use as they see fit.
Nothing in this report is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical.
This public report is not the full report. Only subscribers have access to the full report and regular tracking of the theoretical picks and closeouts made in the reports. Non-subscribers click here for access.
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