Stock market health remains poor, as discussed in the most recent Market Health Update on May 15.
That said, I still run scans every couple of weeks to see what types of stocks are setting up and how they perform if they break out.
Because of the overall market conditions, I’m mostly monitoring things right now. I will deploy very little if any capital. That said, market conditions can change quickly. That is why I like to be ready and be aware of what setups are out there.
Below are stocks I’m watching because they have the potential to trigger trades based on the contraction/triangle pattern strategy.
This strategy and others are covered more in-depth in the Complete Method Stock Swing Trading Course, including how to scan and find trades.
US Swing Trading Stock Watchlist
108 stocks passed the scan criteria. Filtered down to those written below.
Note that the criteria above have been adjusted based on current market conditions, relative to what these criteria were a month ago. Since the stock market is weak, I weakened most of the criteria, but the scanner is still looking for stocks that are stronger than the S&P 500.
Canadian Swing Trading Stock Watchlist
50 stocks passed the scan criteria. Filtered down to those written below.
Once again, the criteria have been weakened slightly compared to the criteria used one month ago. This is because we are looking for stocks stronger than the S&P 500, and the S&P 500 is lower than it was a month ago.
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By Cory Mitchell, CMT
Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.