The indexes continue their short term uptrend that they have been in since beg. of May and volume did pick up today. The bad news on the volume pick up is that it is still well below the 50 dva. So big funds still are not ready to jump into the market. However, charts are a plenty with good patterns. And while everyone complains and continues to be bearish, the Nasdaq is up almost 7% this month. Where have you been?
While the markets continue their short term uptrend, I continue to find nice charts that are breaking out or building excellent bases. How can I and about only 15 traders out of 2000 I monitor see this? It is amazing. If the bearishness was higher in the professional newsletter writers I would be slamming the table calling a bottom. However the pros are still bullish while the "herd" are very bearish. Do you know what that tells me on a ratio basis? That we have an upside bias that goes sideways for a while. Let's see if that is what we get.
Long swing trades: JMDT ASTM MCZ APH CNB STX LTBG TTN CPTV ELOS
Long swing trades I have mentioned before: CCRT LCAV WFMI HTCH LABS MUSE IDIX STTS
Remember you want to buy these as close to pivot point as possible (preferably within 5%, unless a gap then 10% is MAX allowed) for safety.
There are also tech stocks that I like the patterns on but are not ready yet : BRCM RATE THQI RGCI ARRS(missed this one on 4/28 cause mrkt. was weak.) VSEC
Aloha
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