The indexes opened higher, went lower, then higher again to close with gains on a 20% increase in volume from the day before. The indexes, on a daily chart, has made a "tail engulfing" pattern in price today. That is a very bullish sign. It shows that bears tried to take control by taking the market lower than yesterdays lows then the buyers stepped up and bought/bid it up to the old highs. The other positives is the quiet sideways action which is working off the overbought condition with time not price, all the beautiful longs I am getting on my scans, and the still negative sentiment (though not nearly as bearish as it was) I see in chat rooms. One other thing is I have a short scan and it is still finding almost zero low risk/high reward short setups. That is so bullish it is ridiculous. I should still be getting a handful here and there. But I am not.
New Swing Longs: HOS SYNM TIV WCI BABY THQI DENN CWP ICA UGP
Postions holding setting up new buys: SCVL CIB THE FOXH ASTM TERN DESC AIR BCON UNWR ILMN BMD GIGM PTMK SYKE STEM ARRS
All the stocks under "positions holding setting up new buys" have all been mentioned in this blog. To find them look at the chart and find a high volume up day on heavy volume then look at that date in the blog and you can see there it is.
ALOHA
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