Author: Lee Adler

Swing trade stock screens produced 50 charts with multiple buy signals as of the last two trading days of the past week. Four of those were inverse ETFs, for a net bullish total of 46. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

There were 172 charts with a second sell signal. That’s a lot of sell signals, and only one of them was an inverse ETF. Non-subscribers click here for access.

Should we be excited? Given that rangebound markets have a propensity to generate constant whipsaws, I would still take these numbers with a grain of salt. Non-subscribers click here for access.

The goal is to keep from being chewed up in the meat grinder. Lately I’ve managed to do that successfully, but at the same time, the gains have been insignificant. Last week the average gain was 2.7% on an average holding period of 18 calendar days. Six picks were closed out by either deciding to close on the open last Thursday, or by hitting stops. These are shown on the table below (subscriber version). Non-subscribers click here for access.

After 3 of the shorts were closed out, that left one active short and 14 buys. Non-subscribers click here for access.

There were too many signals this week to visually review all of the charts but I looked at most of them, including all 50 buys. The theme again was tech, tech, tech, particularly semiconductors. I added 4 buys to the list, bringing the total of open picks to 18 buys and one short. Non-subscribers click here for access.

I reviewed about 100 of the sells. They were mostly signals in the context of rangebound noise with ambiguous setups. Many of the signals were in health care, real estate, and other interest sensitive sectors. But I saw no setups that were compelling enough to add to the list. There was too much ambiguity in the charts. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

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Stocks continue to wander aimlessly within a very weak apparent uptrend. A breakout is not a given. Nor is a downturn. We’ll keep an eye on these technical measures for any tell on the next big move. Here’s what I’m watching, with potential cues. Non subscribers click here to access.

Technical Trader subscribers click here to download the complete report.

Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! 

These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance. 

Swing trade stock screens produced 57 charts with multiple buy signals as of the last two trading days of the past week. Five of those were inverse ETFs, for a net bullish total of 52. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

There were 95 charts with a second sell signal. Of those 95 sells, 22 were fixed income ETFs and 19 were foreign market ETFs. Only 54 were individual stocks, and a few of those were foreign stocks. More were interest sensitive utilities. So investors seem to dislike anything related to fixed income. Non-subscribers click here for access.

Overall there was no significant tilt to the signals on individual US stocks that are not directly tied to the fixed income outlook. Non-subscribers click here for access.

If you are interested in precious metals, a number of gold stocks and ETFs showed up on the sell side. I will update the Precious Metals Trader report on Friday morning. Non-subscribers click here for access.

5/8/23 Rangebound markets produce a preponderance of whipsaw signals, which is why I refer to them as meatgrinders. Eventually the market will break out and trend for a while. Until then, the string of small gains and losses is likely to continue. It’s a slow bleed that wears out both long and short traders. But it’s necessary to keep playing the game in order to catch the next big move when it comes.

That said, I have continued to review and select charts that appeared set up for a decent move in either direction, and I’ve been giving them a bit more rope, eschewing stops until the third or fourth week after the pick was made. That has resulted in the current active list having an average gain of 2% on an average holding period of 18 calendar days. It’s nothing to write home about, but given the market’s tight trading range and constant whipsaws, I’ll take it. Non-subscribers click here for access.

The list will have 12 open picks after closing out two shorts as of the open this morning. Of the 12 remaining open, just two are shorts, and 10 are longs. Non-subscribers click here for access.

Upon reviewing the charts with signals, I added 6 buys to the list, to be tracked starting with today’s opening price. I didn’t like any of the setups on the sell side, so added nothing there. The list will be lopsidedly long, which is risky, but it is what it is. I try to review the charts without bias. If I have a bias, it’s to the short side, and I still didn’t see anything I liked in that direction. Non-subscribers click here for access.

The new picks are shown on the table below (subscriber report). I have adjusted or added stops on several of the existing picks. I’ve left the rest stopless to give them time to “ripen.” Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Subscription Plans

“There is a sixth dimension beyond that which is known to man. It is a dimension as vast as space, and as timeless as infinity. It is the middle ground between light and shadow — between man’s grasp and his reach; between science and superstition; between the pit of his fears and the sunlight of his knowledge.” – Rod Serling

Non subscribers click here to access.

Technical Trader subscribers click here to download the complete report.

Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! 

These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance. 

The key to the longer term outlook lies in the shape of the xxxx xxxxx xxx xxxx that’s just starting.

Non subscribers click here to access.

Technical Trader subscribers click here to download the complete report.

Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! 

These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.