Vmware (VMW) Is Displaying Weakness Worth Noting
Please note the head and shoulders pattern in VMW. the stock was a rally leader last year and currently sits just on top of the 200 day moving average, which makes a short somewhat more tricky. A meaningful pierce through the 200 dma would make a short more attractive. More importantly however to note […]
BKX Bank Index could Trade lower
A quick look at the BKX Bank Index reveals notable support at the $52 level. A break below could quickly move the index towards the $49 level, which also happens to be the 200 day moving average (red line). How do the component stocks of the BKX look? JPM albeit still longer term bullish now […]
US Steel (X) Lost It’s Short Term Upside Momentum
As the broader market started pulling back in mid February, X also topped out and has been heading lower ever since. If you remember, There was a nice breakout pattern developing as X jumped above $62. Turns out it was purely technical and as folks noticed that the global economic recovery isn't as strong as […]
The ‘USO’ Oil ETF Has Major Resistance At $42.30 for Now
The 'USO' Oil ETF has major resistance at $42.30 for now. I am taking some profits here but do believe prices could rise much further after some consolidation. Keep this one front and center as it's likely to move the market for some time.
Euro/USD Is Approaching 1.40
Note the quick and steep rally the EUR has staged against the USD over the past three weeks. 1.385 could have served as resistance but the EUR kept rising and is now at 1.40, which should serve as some sort of resistance. Next stop higher would be 1.428, which is the highs from last November. […]