Of 490 large-cap stocks and exchange-traded funds in my analytical universe, 20 broke beyond their 20-day price channels, six to the upside and 14 to the downside.
Three symbols with trading signals having low odds of success survived initial screening, one having broken out to the upside and two to the downside. Low-odds symbols are candidates for non-directional trades.
There are four prospects for trades coinciding with earnings announcements.
I shall do further analysis on Monday, May 2.
Earnings season began April 11. The higher pace of announcements will continue for about four weeks from that date.
by Robert J. Gordon