Back on February 8th I wrote about the negative divergence I noticed in one of my favorite indicators - the percent of stocks above their 50-day moving averages. If the market is having a healthy advance you should see a lot of stocks participating. That inidcator should be making higher highs along with the indices. The divergence in that indicator is a sign of a rally on poor breadth.
That divergence has been nagging at me since January but I've felt like I had to be a bull given the indices' stubborn advance. Well today it felt like the music stopped in a game of Musical Chairs and people were scrambling to sell. I thought last week's Fed decision to raise interest rates might have been the catalyst for a selloff but that didn't happen (and perhaps that was too obvious). Thankfully my nervousness had me keeping tight stops and I shorted some QQQ ahead of the Fed meeting. I was actually thinking about covering that short after this morning's gap up -- good thing I didn't!
I thought I'd follow up on that previous blog post by showing again how one can get a read on the market's health via some of the site's features. As I've mentioned, it's crucial to get a feel for the broad market's health & direction. I'm often asked which scan/signal is the best one -- but there's no one anser to that. Different things will work in different phases of the market. (I wrote a bit more on that topic in the FAQ) So I've put things on the site to help me do just that.Read More ➞
I'm releasing another new scan / signal today. This one finds stocks forming the handle portion of a cup-with-handle pattern. If you're not familiar with the cup & handle, here's a quick overview:Read More ➞
By popular demand, I'm releasing three new scans today They are:Read More ➞
I've been noticing this while reviewing the Genreal Market Overview page for several days now and wanted to highlight it. I've written several times about how I use the "Percent of Stocks Above their 50-Day Moving Averages" (similar to Worden's T2108 indicator) as an overbought / oversold indicator. And I like it much better to signal oversold than overbought.Read More ➞
The other day I was flipping through charts on the top percentage gainers scan and noticed the run EVR has had over the last three months. It's pretty much been straight up (more than 40%) since late October.
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I was just asked this:
Would like to reduce the time for scan runs…..I have 4 different Combo scans which would be great to store and run daily. Is there a simple way save the scans and run without manual input?
Here's the answer:Read More ➞
I just released a feature I've been wanting for a long time. I've also been asked for it by many people. It's essentially a scan of scans. You can now combine up to three scans into one result set. The stocks which will be returned are only those which match all the requested scans.
You'll find it on the main scans page called the 'combo scan'. This will make it even easier & faster to find trading candidates matching your trading style. Simply choose two or three different scans and enter the other criteia as usual.Read More ➞
I just added another new scan thanks to Rick, who pointed out to me that this functionality was missing. As I told him, I guess I was too close to the forest to see the trees. I should have had this scan a long time ago, given that I've had the trend tables on the stocks since day one. So this scan allows you to find stocks based on what appears in the trend table on the individual stock pages. For example, BERY, which yesterday had this trend table:
- Long-Term Trend: Up
- Intermediate-Term Trend: Up
- Short-Term Trend: Down
By popular demand, you can now sort the stocks in the "All Stocks" page! When I first created that page I never thought people would actually use it -- I really made it so that search engines could index the site easily. But, increasingly over time, people have been asking for the ability to sort the list of stocks, mainly because they wanted to sort by the letter grades.
Well I've enabled that plus sorting by other columns as well. You can simply click on the column header you wish to sort by. The first click will sort ascending and a subsequent click will reverse the sort.
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I'm happy to announce the launch of annually-billed Pro plans! I've been asked about a yearly option several times and since I aim to please, here they are.
By opting for a yearly plan you can save up to 30% vs monthly billing. Annual pricing is the equivalent of:
- Gold Plan: 2 months free
- Platinum Plan: 3.5 months free
You can select annual billing on the Pricing Page. Just click the appropriate button which has the text "Annual Billing".
For those of you who are already on a monthly Pro (paid) plan if you switch over any remaining credit on your current plan will be applied to the annual plan's price. So, for example, if you are on the Gold Plan ($10/month) and switch halfway through your month, $5 will be credited toward the annual plan and you'll only be charged $94 to switch instead of $99.
As always, I'm happy to answer any questions. And now it's easier than ever to contact me. You can just hit me up via the little chat bubble in the bottom of every page on the site.Read More ➞