US And Canadian Stock Swing Trading Watchlist - Wednesday, Mar. 17

These are stocks I’ll be monitoring over the next week to form valid patterns and potentially trigger a trade. I am currently scanning for and trading continuation contraction patterns (read that article to understand what has to occur in order for a watchlist item to become a trade).

Before getting to the potential swing trades for this week, let’s look at the overall health of the market.

Stock Market Health Check for Swing Trading

Currently, the stock market is healthy and rising (not a forecast). The Nasdaq 100 was lagging for a bit, but it is once again running higher as well.

I am continuing to take valid long trades I see them, and focusing on the contraction continuation pattern.

(Click on image to enlarge)

Market health indicators for stock market March 17

Here are the market health indicator statistics…

  • 78% of S&P 500 stocks are above their 50-day moving average (top indicator, blue line). More than 72% of all US stocks are above their 50-day moving average (orange line on top indicator). This means lots of uptrends and easier trading conditions for long positions.
     
  • The blue bars show the daily rate of change in % (second from bottom). Large single-day drops are often (not always) associated with overall declines in the index. This indicator has turned quiet again, which is typical of rising markets.
     
  • The NYSE Advance-Decline Line (bottom indicator) is near highs while the S&P is also near highs. This helps confirm the rally.

Additionally:

  • The Nasdaq has sold off more than the other indexes. It is now rallying back strongly, but I am still monitoring that situation. If we see weakness in that index again, it could signal an overall market health issue.
     
  • From a price-action perspective, we are in an uptrend over the longer-term in the S&P 500.

US Swing Trading Watchlist

428 stocks on the scan list. About 60% more than last week. I only went through the top 250 (1 year returns) + plus some from last week.

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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 ...

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