XLE At Meaningful Support Area
The XLF is now near the $15 area – a level that could hold as support, as discussed often during recent weeks.
Tight Bullish Pattern In Walgreen (WAG)
Note the tight channel, so far considered a bullish flag pattern, in WAG. A trade would trigger to the long side on a daily close above the channel.
Semiconductors Remain Looking Weak
Semiconductors as a group remain looking weak as displayed by the SOX index below and should slide lower. Two things however; 1) the SOX index is no longer as representative of the semiconductor industry as it used to be due to foreign listed competitors adn 2) Intel is back below the $22 level and as […]
Today’s morning market video us ready to watch here:
http://steadytrader.wpengine.com/video-2/video-june-2011/
Monday Morning Market Thoughts
Last week's market action was weak, as displayed by bearish engulfing candlesticks on the weekly charts of major U.S. indices. The Russell 2000 is despite choppy action very close to again making lower lows since the beginning of May and the SPX and NDX look very much the same. This morning I am […]