Today the following stocks/ETF's met all the criteria for one of the three technical studies below:
Bollinger Bands Study:
Bollinger Bands, ADX [Average Directional Index], Momentum, and A Moving Average
Goal: Identify Stocks that are below the lower Bollinger band, and meet other criteria I have set using the three other technical indicators listed above.
Price Channels, ADX
Goal: Identify stocks that are trending lower and show signs of reversal using Price channels and ADX.
Fibonacci Lines, RSI [Relative Strength Index] , and MFI [Money Flow Index]
Goal: Identify stocks that have met certain Fibonacci retracement requirements as well as other criteria for RSI and MFI.
6/5/2012 Study Matches
Below are the study matches for the day, also before looking at the list below please read my DISCLAIMER here.
Bollinger Bands Study: Korn/Ferry International (NYSE:KFY), Molex Inc. (NASDAQ:MOLX), Ameriprise Financial Inc. (NYSE:AMP), Morgan Stanley (NYSE:MS), Prudential Financial, Inc. (NYSE:PRU), Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS), iShares Dow Jones US Financial Sector (NYSEARCA:IYF).
Reversal Study: Lam Research Corporation (NASDAQ:LRCX)
Fibonacci Study: NONE
Today there were many stocks/ETF's that met the Bollinger Band Study Criteria, and out of the stocks/ETF's that met 5 of the 7 were financial related companies, which to me says that a possible reversal in the financials has just started to occur.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.