I found today's results on the ETF scans very interesting. One of the themes was Financials with the SPDR XLF coming up as well as a leveraged ETF for Financials. There were others managed by different companies that were basically the same as XLF...
We suspected that today would be a positive trading day based on the ceasefire brokered between Israel and Iran. We were not disappointed with price gapping up on the open and continuing in a straightforward rising trend all day...
I didn't plan it this way, but it turns out all four of today's selections display reverse head and shoulders patterns. These bullish patterns tell us to expect lengthy breakouts the height of the pattern. I will say that they aren't the most reliable patterns...
It was a very interesting day of trading on the heels of the U.S. bombing of Iranian nuclear sites. As of publishing, there is a cease fire being worked out between Israel and Iran with the expectation of an end to the conflict...
Currently, Energy (XLE) is the only sector holding a rising Price Momentum Oscillator (PMO). The sector has been on fire as Crude Oil finally broke out. Overhead resistance isn't that far away for XLE or Crude so we have to wonder how much further it can go...
The spreadsheet could definitely look better. We had two stops hit yesterday on positions from last week. The market is weakening and that is going to put downside pressure on most positions. It may be wise to avoid the more aggressive growth stocks for now...
Today the Silver Cross Index (SCI) for the SP500 ($SPX) dropped beneath its signal line in a perilous drop. The SCI measures how many stocks have a 20-day EMA above the 50-day EMA...
We had one reader send in symbols, but I also have been paying attention to an email group that I am in and they have presented various symbols over this week. I have two from the reader's submission and one from the subscriber email group (EWZ)...
Yesterday the Dow (DIA) and SPY saw negative PMO Crossover SELL signals. Today, the SP100 (OEF) joined in with its own PMO Crossover SELL Signal. We still see a rising trend intact, but we do see a possible double top in the very short term...
It was an interesting ETF Day. The scans did not produce much at all, but what they did send was plenty of inverse ETFs for the major indexes. We could be a turning point in the market given the appearance of all of these inverse ETFs...
(Editor's note: Some of our data did not come in on time today. We will update the Total Volume later this evening when the data becomes available.) The Dow did rally today, but it wasn't enough to prevent today's negative crossover by the Price Momentum Oscillator (PMO)...
It occurred to me Sunday that we had a holiday on Thursday. That has changed the schedule for DP Diamonds slightly. I've moved up picks by one day so you'll four today, ETFs tomorrow and Reader Request Day will be Wednesday (get some symbols into the queue!)...
Today the Energy Sector ETF (XLE) 20-day EMA crossed up through the 50-day EMA (Silver Cross) generating an IT Trend Model BUY Signal. Middle East tensions pushed Crude much higher and this helped push XLE well above the 200-day EMA and resistance at the May top...
Well last week looks very good, but this week was basically a bust. We had only two positions finish positive. One was up over 9% so that was good, but I'm not happy with how "Diamonds in the Rough" reacted to this week's decline...
Today the Biotechnology ETF (IBB) 20-day EMA crossed up through the 50-day EMA (Silver Cross) generating an IT Trend Model BUY Signal. Price is now up against resistance and it was turned away with a lower high today...
I was a little disappointed that I didn't have any Reader Requests today, but I know how difficult it can be to ferret out good stocks for review. Since I didn't have any requests, I went through my scans and found three good candidates...
Today the United States Oil Fund ETF (USO) 20-day EMA crossed up through the 50-day EMA (Silver Cross) generating an IT Trend Model BUY Signal. We will discuss this fully in the Crude Oil section below...
ETF scans were pretty light today. It was another day with lots of Bond funds hitting the results. I'm not that bullish on Bonds right now so I opted not to include any...
Today the Regional Banking ETF (KRE) 50-day EMA crossed up through the 200-day EMA (Golden Cross), generating an LT Trend Model BUY Signal. We do see a bullish flag formation and price is above key moving averages...
Today the Diamond Dog Scan which finds shorts, only had one result. This tells me the market is fairly healthy at the moment and could see more upside ahead. The rest of the scans were mostly productive. I have a few runner-ups in addition to today's "Diamonds in the Rough"...