MACD Divergence Scan - July 17, 2022

Today, we also share a link of the webinar in which Dr. Elder discussed the Divergence scans spreadsheet. As such, we suggest you review the comment, then go watch the webinar that was held on the 20th July. If you would like to start receiving them in real time - on Sunday, looking for opportunities in the week ahead - please join Dr Elder’s private webinars, for which these scans are a free bonus. For more information please click here.

Dear Webinar Participant, Last weekend I wrote to you: “... this market reminds me a coin standing on its edge. Which way will it fall? I feel the odds are about 53/47 in favor of bulls - not a very wide spread.” It turned out to be a week of the coin falling both way: the market sank for the first four days but gapped up on Friday for an explosive rally, closing almost flat for the week.

Nine bullish picks were marked attractive. Five of them didn’t trigger (saved from trouble by the ‘red dot’ comments. One worked out and three failed (each of those after rallying very slightly above their “legal” level before turning down). Three bearish picks were marked attractive and all worked out.

Our broad market scans have slightly weakened, and the monthly charts of the world markets sank back into their extremely oversold zone.

The disparities between the numbers of bullish and bearish finds of our automatic weekly scans continued to soften: * MACD-Histogram divergences, weekly 58 : 9 (last weekend 61 : 7). * Force Index extremes, weekly 17 : 1 (last weekend 16 : 0) — the only scan remaining in its extremely oversold zone. Our daily scan for MACD-Histogram divergences returned to being predominantly bullish, 37 : 8 (last weekend 7 : 14). Today the market looks and acts slightly more bullish than a week ago. Still, let’s not forget that this is still a bear market, while a normal bullish correction is struggling to get traction. A very important reminder: the US market is entering its earnings season. Some major banks already reported last week, more than 300 companies will be reporting this week. Before you put on any trade, it is essential to check that stock’s earnings date - and avoid entering before earnings. Stocks can jump unpredictably on those reports. Trading before earnings is a gamble. There are many websites on which you can check earnings dates. The one I always use is and then I double-check

Here is the webinar link: Current Market with Dr. Elder - July 20, 2022

Dr Alexander Elder

20220717 MACD-H and Force Index Semiautomatic Divergence Scans
Download XLSX • 21KB

Webinar and weekend scan instructions V2
Download PDF • 317KB

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