Strategy Desk Users' Group

[Tony G]

Demark Daily Setup

Scanning the S&P500 for Oversold stocks (yes there are some in this market) I found mostly metals and healthcare. For now I'd avoid both sectors. But there is one oversold stock that looks attractive:

Who likes Doctor Pepper?

Demark count -22 (wow)
on rising 50 day SMA support
closed below lower Bollinger Band for first time since February



I have an alert set to go long on strength, with a stop below today's low 33.06. Earnings report May 6.

To scan for stocks that are overbought or oversold according to the Demark 9 count method, use this screener:


(
Bar[Close,D,0] < Bar[Close,D,4] AND
Bar[Close,D,1] < Bar[Close,D,5] AND
Bar[Close,D,2] < Bar[Close,D,6] AND
Bar[Close,D,3] < Bar[Close,D,7] AND
Bar[Close,D,4] < Bar[Close,D,8] AND
Bar[Close,D,5] < Bar[Close,D,9] AND
Bar[Close,D,6] < Bar[Close,D,10] AND
Bar[Close,D,7] < Bar[Close,D,11] AND
Bar[Close,D,8] < Bar[Close,D,12]
)

OR

(
Bar[Close,D,0] > Bar[Close,D,4] AND
Bar[Close,D,1] > Bar[Close,D,5] AND
Bar[Close,D,2] > Bar[Close,D,6] AND
Bar[Close,D,3] > Bar[Close,D,7] AND
Bar[Close,D,4] > Bar[Close,D,8] AND
Bar[Close,D,5] > Bar[Close,D,9] AND
Bar[Close,D,6] > Bar[Close,D,10] AND
Bar[Close,D,7] > Bar[Close,D,11] AND
Bar[Close,D,8] > Bar[Close,D,12]
)