Dollar Looking Solid
after putting in higher low in the early part of June the dollar index rallied well above the 50 sma yesterday. A break out of this wedge here could lead us significantly higher.
Home Depot Long-side Setup
Fundamentally speaking I hear that Home Depot and Lowe’s stores are jam packed as folks are dong up their homes. It’s not clear what the reasons are for the sudden home improvement spurt. Is it a) people doing up their homes because they feel better about their financial future and hence a positive sign […]
Expedia (EXPE) Looking Solid
Expedia, Inc. (EXPE) came on my radar this morning as I detected a bullish flag formation that seems to want to break higher. I often keep an eye on this stock as historically it has traded well technically and showed decent respect to its 50 and 200 day moving averages. The firm owns expedia.com, hotels.com, […]
Coffee retailers like SBUX and GMCR looking weak
you know the chart of SBUX, but here's GMCR…looking weak. Coffee prices are on the rise, not helping those two retailers.
200 Day Moving Averages As Magnets
Materials (XLB), XLI, XLK, XLY SPY it's a reference level for now but let's not take those levels too seriously semiconductors as measured by the sox…near 200 dma XLV, XLP, XLU, XLE far away from 200 dma
Visa…
key resistance mark around $81 broke out of narrowing trading range last earnings announcement 5/5 paid 15c divident on may 18 as discussed previously here:
Visa Getting Its Grove On Today
We've discussed Visa at length over the past few months. Read HERE for example. After running up to a major resistance area at $81 the stock tumbled a quick 5% and found support at a rising 50 day moving average. Visa is now again running up to the $81 area. We are watching […]
Russell 2000 At Crossroads Still
This morning's up-gap open may be enough to rally stocks higher and in specific the SPX to a $1400 area. The Russell 2000 small cap index remains at a critial level: right at the 50 day moving average (yellow line) and at multiple support and resitance trend lines (red lines all over). What we […]
Wells Fargo (WFC) Recovering But No Cigar
As today's trading session slumps along I'm keeping a close eye on the financials on the back of the GS upgrade from JPMorgan. I stated our case for a potential bounce in financials the past two weeks HERE. As we've dabbled on the long side on WFC recently I wanted to point out the […]
Shanghai Index Losing Downside Strength
For the more technically oriented, here's a chart of the Shanghai Index displaying the ADX trending index. A low reading is indicative of a weakening trend. In the case of the Shanghai index, the downside trend in place since April looks to be weakening.