Category: 2 – Technical Trader

Swing trade stock screens produced 40 charts with multiple buy signals as of the last two trading days of the past week. There were just 61 charts with a second sell signal. That’s a switch from prior weeks when there were far more buy than sell signals. But the numbers are small on both sides, suggesting a lack of breadth, momentum, and conviction. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Average swing trade chart pick theoretical profit slipped from 10.8% to 9.7% last week, on an average holding period of 28 calendar days. Some profits were culled, with 6 picks closed out, as shown on the table below. 3 of the 4 new picks were losers, hurting performance, but I want to give them time to back and fill, as is normal before moves take hold. Non-subscribers click here for access.

After reviewing the charts with signals, I added two buys to the list. One was a chart that made the list in early June, but went down and picked off a stop I placed last week. It then recovered and triggered new buy signals. I still like the chart. Non-subscribers click here for access.

I found 6 setups I liked on the sell side and added those to the list as shorts. This is a shift from the recent pattern of adding almost entirely buys, and few or no sells. Non-subscribers click here for access.

These moves, along with the new additions will leave 14 buys and 7 shorts on the list over the coming week. Non-subscribers click here for access.

Whenever the list profit has reached an average of 10%, as it did for a couple of weeks this month. While many charts are extended, and a few have started to pull back from or near resistance levels, I’m not seeing signs of a significant reversal here yet. However, a pause or consolidation looks likely. Non-subscribers click here for access.

I have adjusted or added stops on many of the picks. Others I have left without stops because the trends are good and I don’t want to get picked off early, so I will let those ride. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

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Swing trade stock screens produced 121 charts with multiple buy signals as of the last two trading days of the past week. There were just 42 charts with a second sell signal. That’s roughly the same ratio as the week before. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Average swing trade chart pick theoretical profit rose to 10.8% last week, on an average holding period of 27 calendar days. Whenever the list profit has reached an average of 10% over the past 18 months, the market has subsequently reversed. While many charts are extended, and/or at or near resistance levels, I’m not seeing signs of reversal here yet. Non-subscribers click here for access.

I’m adding four late cycle buy signals to the list. Picking up laggards is risky when a rally is this far along but I liked these charts enough to add them to the list. There were more that I could have added and didn’t because the list is already so loaded. Those that I did add were the best looking ones. Non-subscribers click here for access.

Five picks hit stops last week and will no longer appear on the list. I am pulling two stocks from the list as of today’s opening price. I have adjusted stops on others. These moves, along with the new additions will leave 16 buys and one short on the list over the coming week. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

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Average swing trade list theoretical profit rose above 10% last week, on an average holding period of 3 weeks. It would have been even greater had I not added 3 shorts last week. That was at least premature. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Swing trade stock screens produced 127 charts with multiple buy signals as of the last two trading days of the past week. There were just 51 charts with a second sell signal. Signals tilted more to the buy side than in previous weeks, suggesting a modest broadening of the rally. However, whenever the list profit has reached an average of 10% over the past 18 months, the market has subsequently reversed. Non-subscribers click here for access.

In view of that, and given the duration of the rally already, I am reluctant to add more longs now. There were a number of setups that looked pretty good, mostly in the energy sector, along with a few REITs, about which I’m skeptical. But with so many longs already, I’ll ride with those and start adding stops for profit taking purposes. Non-subscribers click here for access.

I looked hard at the sells. Most of them were fixed income and gold ETFs. Among the few common stocks that had sell signals, the setups were not good for shorting. Nor do I like the looks of the 3 shorts already on the list, so I added or adjusted stops to those. Non-subscribers click here for access.

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Swing trade stock screens produced 102 charts with multiple buy signals as of the last two trading days of the past week. There were 116 charts with a second sell signal.  That’s a virtual tie. Lot’s of signals on both sides, but a preponderance were in the context of rangebound noise, and therefore meaningless. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Last week wasn’t bad performance wise. Including two stopouts and 16 picks still open, the average gain was 5.6% on an average holding period of 19 calendar days, or less than 3 weeks. Non-subscribers click here for access.

The list had only one active short. The rest were buys. Non-subscribers click here for access.

There were too many signals this week to visually review all of the charts. I only added 2 picks on the buy side, and 3 shorts. If I had gone through all of the charts, there probably would have been a few more of each, but the list is big enough, so I stopped. Non-subscribers click here for access.

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