Swing Trading Strategies & Stock Picks Since 2003

Early attempts at a buy signal for the Nasdaq and S&P drifted as stochastics again dropped into oversold territory. Their respective MACD's maintain a 'buy' but for all intent and purposes it looks like both indices want to check out November lows.


Nasdaq Bullish Percents also kissed good-bye to its breakout, leaving instead a bull trap and a sell trigger in stochastics; best bet for bulls is a new higher low which shouldn't be too difficult, particularly if it is associated with a new low in the Nasdaq.

The Nasdaq Summation Index could not have played better resistance; when it breaks it will have great significance and likely confirm the next cyclical bull market.

The NYSE Summation Index has fallen into line with the Nasdaq. It too has a clear definition of resistance

The sensible thing to do is to wait for breadth indicators to enter more oversold conditions before considering long side positions.