Hawk’s Scan Sentry Report for Wednesday March 9, 2011
Welcome to the brand new Scan Sentry Report. This is Tuesday night with picks for Wedesday.
I have once again performed a scan using the Arps TTB Pullback 23 indicator in conjunction with the TradeStation Scanner tool. And even though I came up with twice as many short signals as I did long, my nature is to not fight the longer term trend which, in case you just woke up from a two year nap, is bullish. In fact, this rally celebrates its second birthday today, having tagged a bottom at 630.75 (@ES) on March 6, 2009. By the way, that was two days after we got our most recent bullish Trend Exhaustion 3 signal on the daily @ES chart. Today we are getting conflicting signals from our Radar tools with Radar3 indicating a general bearishness while Radars 1 &2 show slight encouragement to the upside. Nonetheless, until proven differently, I am identifying our current market as “still in an uptrend” and am still looking for opportunities to go long.
So, through the laborious efforts of technical analysis made so much easier by the Arps Scan Sentry tools, I have come up with several ideas to look at for Wednesday entry possibilities for short term swing trade positions.
Here are the picks…
(longs)
GT
RWT
All of these symbols showed recent signals in the Trend Exhaustion 1 tool.
May the trend be with you,
Hawk
GT
RWT
