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- SignalWatch – 4.25.17
SignalWatch – 4.25.17
April 25th
Evening folks! What a day. The indexes kicked things up a notch as ol’ Emeril liked to say. The Dow closed up 1.14%, the S&P +.62% and the Nasdaq reached new all-time highs today en route to a gain of .74%. Several major players, CAT and MCD, in particular, blew their earnings reports through the roof, helping to push the market higher. The bulls are back folks, and it appears as if the jitter spell we witnessed just a few weeks ago has chilled.
So, following along with the bullish market mode, we are going to be looking at three new buy signals tonight. So let’s jump to it.
iTLB is looking for renewed strength in Davita.
DVA has been slowly but surely moving higher over the past month, continuing the bullish move it began las month when it pivoted off of the 50 SMA. Today DVA picked up a small gain but more importantly, it pushed through resistance at $60.50 in the process. This was enough of a momentum shift to trigger a new signal from the iTLB plug-in. iTLB looks for what we call Intrinsic Trend. The concept of Intrinsic Trend is that by using a close examination of recent moves, we can find early indications of an emerging trend and channels within which price will likely move to as the trend continues. The idea is to enter trades on pullbacks within the channel. It also uses specialized indicators that measure trend strength and quality.
If DVA can continue to march higher like the strategy is calling for, we may see it make a run for the $69.50-$70 zone in the near future.
Next on the agenda, JPM.
A new Darvas signal has fired on JPM.
JPM scored close to a 1% gain on the day as it sailed over resistance at $88.00. It has plenty of volume coming into play, which should serve to push this guy higher. If things continue to sail smoothly for JPM, it could be running into the $90 zone before long. Our good friend Darvas is to be thanked for this signal, firing after today’s move closed above a previous Darvas Box. As many of you know, Darvas is one of our most time-tested and accurate set of strategies out there. What the Darvas Box does is it takes the Darvas Methodology and automates it. I am in the process of giving a full rundown on the theory and the plug-in that I am hoping to publish this week. So keep an eye out for that. But if you’re really interested in getting into the nitty gritty of the Darvas method, check out this great article by Frank Watkins.
Last but certainly not least, AGN.
iTLB likes AGN for more forward progress as well.
So we had an iTLB signal to start the night, and by darn, we are having one to end it. This setup is very similar to that on DVA as well. AGN crushed it earlier in the year before starting the pullback that it is currently in. It has flatlined in the past month, trading in a tight range. Volume is on the rise though, which is what tripped the iTLB systems and filters, causing the signal to fire, marking the beginning of a new trend. And as the old saying goes, “the trend is your friend”, so getting into one before it commences is just gravy. If you by chance passed up iTLB’s lit earlier, don’t worry because I have you covered! It’s right here.
That’s all folks. Have a great night and see you back manana.
The products and demonstrations listed on this website are not recommendations to buy or sell, but rather guidelines to interpreting their respective analysis methods. This information should only be used by investors who are aware of the risks inherent in trading. Nirvana Systems shall have no liability for any investment decisions based on the use of their software, any trading strategies or any information provided through other services such as seminars, webinars, or content included in the SignalWatch website.
About the Author Ryan Belknap
Ryan has been with Nirvana since 2012 and has been manning the trading desk since Day 1. He was one of the founding members of Nirvana's Trading Lab and also TraderSource.com along with Ryan Olson and Russell Casperson. Ryan logged more than 3,500 hours trading and educating live in the Lab. He is also the lead author of SignalWatch.com. Ryan is a seasoned educator and has conducted numerous educational webinars and is an OmniTrader University instructor. Ryan prefers swing trading and position trading. Outside of the market, Ryan has passions for the outdoors, baseball, exercise, coffee, pop-culture and spending time with his family.