Scan Candidates

I'm still running scans with my Custom DeMark (influenced) Buy/Sell indicator, I like to run the scan in multiple timeframes, the candidates that have the most signals in multiple timeframes are typically the ones I'll spend more time analyzing with other indicators such as 3C.

In the first round of scans, an interesting trend is emerging, I'll list the Buy and Sell or Short candidates separately.

*These are not official trade ideas, they are assets that I want to look at much more closely, but we have had some really incredible signals using this indicator in the past. I'm putting some in bold as there's a trend among these assets.

Buy candidates: FXP (which is interesting because of our FXI Put); SQQQ (3x leveraged Short QQQ); TECS (Technology Bear 3x); VXX; UVXY; JO; MCP

Sell/Short candidates: FXI (this is the inverse of FXP and we have an open Put position in FXI); COF; HYG; SPY; FDX; XLK; WFC; NFLX; AAPL; QQQ; DIA; IYT; EWG; TQQQ; EWP

The FXP buy and FXI sell/short confirm each other and as mentioned we have a June (monthly) FXI put position.

The SQQQ buy is a 3x short QQQ ETF which fits with the QQQ Sell/Short and the TQQQ (3x long QQQ) Sell/Short signal.

Also all of the averages, but the IWM (which I suspected earlier today would see slightly better relative performance in the very near future) were on the Sell/Short side, DIA, SPY, QQQ along with TQQQ and a buy for SQQQ (the opposite of TQQQ and 3x short QQQ ETF). *It's probable more leveraged ETFs would have confirmed, but they are on different lists that haven't been scanned yet.

The "3 Pillars", Technology, Financials and Energy (the market won't go far without at least 2 of these 3, Energy can often be off on its own) keep popping up. I need to look closer at Energy, specifically oil as numerous signals pointed to Crude being a likely short. However, among our list, in Financials we have COF & WFC as well as the Financial heavy SPY (again, there are only 66 items on this watchlist so it's not a scan of the entire financial sector, but assets I find interesting for one reason or another) and on the Technology side, the Tech heavy QQQ and derivative leveraged ETFs: TQQQ and SQQQ, TECS, XLK (Technology Sector) and AAPL (the most heavily weighted Tech name).

Also while I don't have a lot of transports on this particular list, the fact that the only ones I do have both popped up is interesting given recent IYT/Transports analysis (I believe Monday I covered IYT).  FDX and IYT both popped up on the Sell/Short side.

As for Europe, EWG (MSCI Germany Index Fund) and EWP (MSCI Spain Index Fund) both popped up. The only other on this list, EWI (Italy) gave a recent signal, although not current as of right now, but pretty close.

Here are a few examples...

NFLX since we just covered it...

NFLX

 MCP

These are not large signals, but they triggered every time TLT hit resistance of the channel.

UVXY, again these may not look like large signals, but look at the gains from some of the trades if taken. Furthermore, this is the largest buy signal since the inception of UVXY.

 FXP

SPY on a quarterly basis, only 2 signals and this one is significantly larger, the last was the 2007 top.

DIA

I'll be running more scans as well as additional timeframes, including tactical entries.

I'll be putting out the NFLX Chart update next...