Seeking Alpha

philtronics'  Instablog

philtronics
Send Message
Trader, investor, analyst, programmer, engineer, musician, and creator of gigascanner.com, the World's Most Powerful free online chart-based intraday stock screener.
My company:
Gigascanner.com
My blog:
Phil's Stock Market Blog
View philtronics' Instablogs on:
  • Signals In Market Bellwether AAPL

    I noticed a couple of red Climax High signals in AAPL computer last week, on Tuesday 5/28, and on Friday 5/31. Here are a couple of charts courtesy of the Gigascanner to put it into context, starting with a current view:

    (click to enlarge)annotated chart of AAPL showing recent sell signals

    Overlaying the chart window, the red line is the 200-day eXponential Moving Average (XMA), and the blue line is the 50-day XMA. Coming in from the left edge of the chart, note how the 200-day XMA was already pointing down, and then the 50-day XMA crossed below it back in mid-December of 2012, confirming an accelerating downtrend.

    Worth noting also are the two blue Climax Low buy signals at around that time. They worked, catching the upward turning point, but the price swung higher only in the short-to-intermediate term. Buying a falling market is not recommended.

    Toward the right edge of the chart, the blue 50-day XMA has been trying to turn upward for the past month or so, or at least the steady drop has stopped going down. You could say it's been "straggling" upward. However, now we have the two sell signals from last week to contend with. Things are looking shaky.

    For some perspective, the blue line above the chart window is a breadth indicator showing the daily number of Climax Low buy signals. Similarly, the red line at the top of the chart shows the daily number of Climax High sell signals, which are roughly the opposite. Notice the giant wave of sell signals recently, the strongest surge of them on the entire chart. It was countered by a pretty feeble pulse of buy signals, just about the smallest on the entire chart.

    Putting the signals and breadth indicators into context, I'd have to say that the recent feeble rally in AAPL has fizzled, and the downtrend will probably resume. It's already been selling off for a while; assuming AAPL functions as a bellwether, or as a leading indicator since it's a "leading" stock, this could portend a general downswing in the market from here.

    Speaking of context, here's a chart from back when AAPL was trading at around 700 - this was the last we saw some red Climax High sell signals. I think in this case they caught the exact high:

    (click to enlarge)annotated chart of AAPL showing historical sell signals

    Worth mentioning, because somebody's going to ask - the purple signals are so-called Pristine buy signals, which are based strictly on oversold price action. The blue Climax Low signals occur less frequently, but are more reliable since they take the volume pattern into account. Also, for what it's worth, the bright green signals indicate all-time highs.

    You can see charts like this for about 3000 other stocks with the Gigascanner, annotated with whatever indicators and/or signals you like. I think it's pretty cool, and useful for a free tool. Hope you like it too!

    Thank you,

    Phil

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: AAPL
    May 31 9:50 PM | Link | Comment!
  • Buy Signals in Utility Stocks
    There were a bunch of buy signals in Utility stocks on Friday, indicating a group move. Some of these stocks pay an exceptional dividend, and now might be an excellent time to take a position.

    See my latest blog post at www.gigascanner.com/index.php - illustrated with annotated stock charts. Some of the best-looking symbols were D, CNP, NU, CMS, QEP, UGI, and CHG (in order of their by Market Caps). Of these, I would tend to gravitate toward the ones with the higher Relative Strength (NYSE:RS) rankings.

    Jan 21 6:48 PM | Link | Comment!
  • Large Cap Stocks with Buy Signals
    Here's a list of the top 8 large-cap stocks putting out Climax Low buy signals today, courtesy of the Gigascanner free stock screener (www.gigascanner.com). Tomorrow morning will probably be an excellent time to initiate new positions in these stocks.

    SYMBOLCLOSECHANGEOFF ATHVOLUMEAVG VOLVOL SURGERS RANKEPS RANKACC/DIST
    JNJ64.340.70-11.57%1008121112138735-17%62.7954.1246.82
    F11.320.17-40.33%5731312871544788-20%18.4180.0346.13
    GM24.030.83-56.74%186207201334639440%99.7364.5851.13
    DELL15.670.22-63.19%2196666023516048-7%68.5372.0047.32
    PRU53.05-0.62-48.63%7769748552597441%38.4555.7751.11
    GIS38.960.37-48.52%49111464988905-2%69.6855.9656.20
    WM31.820.46-32.31%6607661532332824%31.8555.7139.44
    LBTYA42.322.71-19.11%2375972164952644%57.6349.5361.99
    Nov 03 8:29 PM | Link | 1 Comment
Full index of posts »
Latest Followers

Latest Comments


Most Commented
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.