Ralph Lauren – Key Near-Term Support
Apparel designer and distributor Ralph Lauren Corp (RL) has left a monster stock run higher behind on the chart off the 2009 broader market lows. The stock however reached a high in March 2012 and has thus not managed to make higher highs since, unlike the broader stock market of course. On the back of […]
Exxon Mobil Charts Into Thursday’s Earnings Report
Oil exploration and production giant Exxon Mobile Corp (XOM) is scheduled to report its latest earnings this Thursday. Given the stock has the largest weighting in the SPDR S&P 500 ETF SPY with 2.83% as of April 19th, it’s reaction post earnings will have the ability to move the broader tape, or depending on its […]
Market Outlook April 19
With yesterday’s battle many a perma bull was sitting at the edge of his/her seat through most of the session. Because the business of trading will lead to death by a thousand paper cuts unless one sees both sides at all times, let me point out both points of view for a moment. Staying with […]
Lousy Long-Side Risk/Reward With Ebay
eBaY Inc. (EBAY) after reporting earnings yesterday tumbled 5.50% on the day, thus confirming the April highs as an important medium term top. Both the longer and shorter term charts are now flagging warning signs, let us take a closer look. The stock’s all time high occurred in December 2004 at $59 and change. As […]
Market Outlook April 18
With Tuesday’s Cinderella bounce in stocks, by end of day Tuesday the bullish broker calls started warming up my phone again. Twitter (@steadytrader) however remained quiet,as the truer tape sensed more to come on the downside for stocks. Coming into yesterday, by the time I finished the morning sweat and flipped on all six of […]
Salesforce.com On Slippery Slope
Software firm Salesforce.com Inc (CRM) may ring a bell to many a trend follower. Back in 2009 and 2010 period the stock quickly became a trend followers’ favorite as it hardly could do anything wrong. Finally towards the end of 2010 the stock took its slope vertical with a large gap up, which proved to […]
Market Outlook April 17
As discussed yesterday morning here (http://investorplace.com/2013/04/daily-stock-market-news-carnage-in-gold-and-silver-could-be-a-leading-indicator/) Monday’s rapid sell-off stood a good chance of taking a breather on Tuesday to work off immediate-term oversold readings and wait for more corporate earnings to hit the tape. Just like stocks finished at their absolute lows on Monday, they closed Tuesday at their absolute highs of the day. […]
CME Group Dancing On Thin Support Zone
Since mid 2009 derivatives exchange CME Group Inc (CME) has traded in an orderly sideways fashion, where any rallies and sell-offs over time always reverted to a mean. This is in stark contrast to the stock’s wild times from 2004 to 2008, which saw a massive multi-year rally followed by a crash. So far in […]
Market Outlook April 16
Yesterday morning as I readied for the first big earnings week of Q1, stock futures and of course commodities were flashing red on my iPad. My first thought was that the one-two punch of last week’s premature bid of stocks into earnings season coupled with free-falling commodity prices should have been the tell going into […]
Owens Corning Short-Side Setup
Industrial firm Owens Corning Inc. (OC) staged an important technical breakout in early December that ultimately led to a 25% rally over the course of two months. Not so coincidentally the industrial sector of the S&P 500 also broke out of an important area around the same time in December, which is important for correlation […]