SignalWatch – Signals of the Day – 3.28.17

It was a moment of truth today as both the S&P and the Dow tested their 50-period moving averages. Those in fear of a correction released a sigh of relief as both of those indexes passed their tests and moved higher closing up for the day. Interestingly enough, the Dow has a new GT Momentum buy signal on it, so even our strategies were relieved. Some folks are still looking for a correction and the folks over at Goldman Sachs tend to agree. We shall see about that sooner or later, but for now, we are going to continue to focus on new bullish trading signals.

The S&P and the Dow both rebounded after finding support along their 50 SMA;s.

So lets get to it!

MS-16

MS-16 is looking at a new higher low opportunity on Oracle.

Oracle is an interesting one. It has established a long and steady uptrend but over the last several sessions it has pulled back to support close to $45.00. After testing support for five consecutive sessions and consolidating, volume is starting to pick up a bit, which could be signaling the next bullish wave.

This signal was fired by our MS-16 advanced strategy. This strategy is unique being it is our only strategy that takes some fundamental analysis into account. MS-16 combines two different momentum based systems and filters based on trend direction and an indicator called Days to Earnings. This indicator helps us avoid trading into a potentially dangerous earnings report. Simply put, MS-16 is looking for ORCL to rebound into its primary trend and move back into the $46 zone.

Next up, Raytheon.

RTM7

RTM7 is looking for a reversion move on RTN.

Raytheon looks mighty interesting. It has been moving higher since January before topping out at resistance at $155 earlier this month. It has been pulling back, even dropping below support at $152 for a short spell before hitting the breaks and doing an about-face after testing the 50 SMA. It is oversold on both the Bollinger Band and RSI indicators which makes its current price a perfect higher low. And as we all know, higher lows are the name of the game as far as finding solid reversion moves go.

This signal is brought to you by another of our advanced strategies, RTM7. RTM7 is based on the Reversion to Mean concept. Using proprietary indicators, RTM7 identifies large moves away from average price and looks to make swift profits on the reversal move. RTM7 also maintains relatively tight stops to prevent you from painful drawdowns. RTM7 is forecasting that next reactive buying round coming up quick. We’ll see how it does. If it’s right, we may see a push back into the $160 zone.

Last but not least, American Express.

MS-16

MS-16 is looking at a new higher low on AXP that has presented itself.

MS-16 strikes again, this time with a signal on American Express. Once again it has found a significant pullback in a dominant trend and it is looking for a reversion move back to the upside. AXP is bouncing off of support at $78, pushing through the 50 SMA and is oversold on the Bollinger Band and RSI indicator. Not too shabby as far as higher lows are concerned. The MACD indicator is also on the verge of having the bullish crossover as well as moving above the zero line. If things continue, we could see renewed vigor in the trend and a push into the $82 zone.

That’s it for this evening. You all have a wonderful night and as always, happy trading!

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