Wells Fargo (WFC) – The Technical Bull Case

WFC along with JPM in my mind are some of the better financials charts out there, at least in comparison to GS and potentially BAC (although BAC is getting at least one leg back up).  Let's look at it in two time-frames, weekly charts and daily charts. On the weekly chart below we see a […]

Open Table (OPEN) Defined Risk For A Short

Yesterday I blogged about OPEN's weak price action (http://steadytrader.wpengine.com/short-opportunity-in-open-table-open/).   While there is support at the $103 mark, yesterday's sell-off left an ugly looking outside (engulfing candlestick) bar.  I am putting this short in bucket 2, specifically with a time-frame of no more than 3 days as I am looking for some follow-through of yesterday's […]

EUR/USD At A Potentially Important Point

First blog post of the day here for me, so let me make it a quick one. See the chart below…the EUR/USD is at a three year downtrend line (resistance?).   I have no bias as to the next price move  here but that is not the point anyway…I am much more interested in looking […]