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Nasdaq Screening

The 60-minute trend is up according to the force index indicator. The %b indicator is developing a negative divergence. The market continues to be strong. The Nasdaq and S&P have already printed a breakout of the ascending triangle (objective reached at 1880). The Nasdaq is outperforming the Dow and the S&P in this phase. Only prices re-entering the trading range would provide a negative signal. I admit that I have been on the sides of this markets for months now, entering only for some short-term trades but missing the move up with some good buy and hold position. I frankly did not see what was happening, where the liquidity was going. May be the fundamentals are not here to drive this market. However, the money is coming into this market and this is going to continue until this virtuous (or vicious) circle is interrupted for some reason. This looks quite irrational to me, as there are more one element to be prudent in this situation.

CMCSA printed a new 20-day low. Several stocks printed new 20-day highs: AAPL, AKAM, DELL, JAVA, NVDA, QCOM, SIRI, TLAB, VRSN, YHOO.
SIRI printed 3 consecutive up closes. NTAP printed 3 consecutive down closes. Most of the stocks are moving above their moving averages.

In the Figure you can see a summary of the trend conditions of the Index stocks. I used the 20, 50, 100 and 200 days moving average of the close. The background is Green when the close is > than the moving average. Red when it is below and yellow when it crosses. + and - indicate the slope of the moving average.

I have also programmed Tradestation Radarscreen to display:
- range of the past 20 trading sessions (%);
- % from the lowest close of the past 20 trading session. The cell
is RED if the close of today is the lowest close of the past 20 days.
- % from the highest close of the past 20 trading session. The cell
is GREEN if the close of today is the highest close of the past 20 days.
In the other columns I included the % of the close from the 20,50 and 100 days moving average.

I have programmed the Tradestation Radarscreen to display how nany consecutive up/down closes have been printed and what is the probability that the next day tomorrow) the asset closes in the opposite direction. I have calculated the probability using the past 1000 trading days.

Disclosure: no positions