By my count this swing is 46 trading days old, was kind of ragged and hard to read in the middle, but the longer-term breadth has been rising and there is no divergence in shorter-term breadth and with price giving another choppy buy signal today it’s likely there is more upside to come.
Still, a lot of big names (see table below) are getting long in the tooth.
This is one of those times when one wants to stay at the dance but dance near the door…and nearer to the door every day.
(TSLA was the wall flower but got asked to dance today – in other words, when the laggards start to run…).
SWING TRADING SIGNALS:
PRICE: Positive. Long on tomorrow’s open (Trade Day 0).
SHORT-TERM BREADTH: Negative. Flat (Day 3).
VOLATILITY: a sell on tomorrow’s open, Flat (Day 1).
LONG-TERM BREADTH: Positive (Day 9).
CNN MONEY’S FEAR AND GREED INDEX: (72, falling still at greed level).
NIFTY-50 STOCK LIST: 23 Buys, falling; 14 Overbought, 4 Oversold, 12 new buys today, 4 new sells.
The swing-trading signals on the leveraged ETFs – TQQQ, XIV, TNA, UPRO – are flat with possible day-trading commencing tomorrow.
(click on the chart for a larger view)