On my last post here last week, it was noted that the market was giving “glimmers” of a pause in its advance. After two days down for SPY and one for TQQQ, it appears the pause late last week is over and it is likely the current bull rally will continue this week.
AAPL, after its own three-day pullback, bounced Friday to turn the Nasdaq again to the upside.
My three swing signals based on Price, Breadth and Volatility have again gotten in sync with individual buy signals on each, and most telling signal of all, long-term breadth, has not wavered on its advance.
CNN Money’s Fear and Greed index has enter and an “extreme greed” level so the market is extremely overbought but as yet there is no sign of a turnaround. Quite the opposite for Monday.
SWING TRADING SIGNALS:
PRICE: Buy. (Day 1).
SHORT-TERM BREADTH: Buy. (Day 1).
VOLATILITY: Buy, (Day 5).
LONG-TERM BREADTH: Buy(Day 15).
CNN MONEY’S FEAR AND GREED INDEX: (77 rising, extreme greed level).
NIFTY-50 STOCK LIST: 19 Buys; 7 Overbought, 6 Oversold, 5 new buys today, 3 new sells.
Bellwether stocks meeting 5-minute day-trading criteria for a buy on the open Thursday: BABA, AMZN, NVDA, GS, TSLA; four stopped for losses, GS a winner, for a net of minus .12%.
Bellwether stocks meeting 5-minute day-trading criteria for a buy on the open Friday: GS, TSLA, BID, FSLR; two stopped for little losses; TSLA and FSLR, winners, for a net of plus .45%.
Bellwether stocks meeting 5-minute day-trading criteria for a buy on the open Monday: TSLA, NVDA, FB.
— The God of Trading (@TheGodOfTrading) September 18, 2017