Chart of the day May 13th: Retailers ETF (XRT) Rejects Key Technical Area
The broken 2009 support line now becomes resistance and at the same spot where the 50 week moving average is crossing below the 100 week. Don’t look pretty, yo.
S&P 500 – Duck for Cover
After treading largely sideways for the past few weeks the S&P 500 has seen more technical deterioration and recently flashed a bigger warning sign again on the charts. Watch the Free Video for the trade setting up in the S&P 500.
Facebook stock, what now?
Shares of Facebook (FB) rallied after anew after the most recent earnings report further tickled the giddiness of the bulls. While the stock remains a fantastic growth story, in the near to medium-term upside looks to be fairly capped. Watch the Free Video for the trade setting up in FB stock.
Russell 2000 Index Alert
The Russell 2000 after showing good relative strength over the past couple or months is now running into a layer of technical resistance both in absolute and relative terms. If the index fails to push higher from here then a move to the downside could accelerate quickly. Watch the Free Video for the trade setting […]
Technology Stocks In Danger
Technology stocks and more specifically the Nasdaq 100 (QQQ) continue to show notable relative weakness versus the broader stock market in 2016, which is the opposite of what we saw in 2015. With some of the largest holdings of the Nasdaq 100 reporting earnings now this index and thus plenty of large cap tech stocks […]
Netflix Stock, What Now?
Earlier this week Netflix (NFLX) reported its latest earnings and the stock was sold off due to somewhat lower user growth estimates in the current quarter. While I remain uber-bullish on Netflix through the longer-term lens, in the near-term another leg lower looks to be in the cards. Watch the Free Video for the trade […]
Can Biotech Stocks Keep Rallying?
It has been a steep and relentless ascent for most parts of the US equity market since the January/February lows. Some market pundits are now calling for biotechnology stocks (IBB etf) to become the next market leader. While I don’t think biotech stocks have to fall apart here, they do look very stretched for the […]
McDonald’s Stock, Too Much Too Fast
Shares of McDonald’s while a great performer year-to-date has taken its most recent rally into too vertical an ascent to sustain at this rate. The company reports earnings on April 22nd and just about any reaction by the stock after earnings should set up a trade to the downside. Watch the Free Video for the […]
Energy Stocks, What Now?
On Tuesday April 12th oil rallied on the back of hopes of production freezes by oil producing nations. This also led to a rally in oil-related stocks, which broke past some important technical resistance. What does this mean and where to from here? Watch the Free Video for the trade setting up in oil and […]
Utility Stocks At Risk
Utility stocks are higher by about 13% for 2016 and the best performing sector. While ultimately this rally could continue later in 2016, for the time being the rate of change or slope of the line looks to be too steep and at the very least a pause is in order. Watch the Free Video […]