Mind The S&P Futures Gap From April 20th
On May 5th the top of the large 15 point up-gap from April 20th was tested but never attempted a fill. Last week Wednesday, Thursday and Friday the tape again felt heavier. We are thinking that should this April 20th gap again get tested it could then have a good chance of filling. If the […]
Starbucks Brewing Up A Nice Chart
Starbucks (SBUX) is brewing up a beauty of a pennant pattern. Bullish pennant pattern such as these break up and out of the pattern by definition. A breakout in either direction of the pennant however could lead to a fast and furious move.
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The Steady Trader Featured On Minyanville
Our cyclical vs. non-cyclical S&P 500 sectors article was featured on Minyanville last week. See here: http://www.minyanville.com/businessmarkets/articles/non-cyclical-sectors-cyclical-sectors-cyclical/5/12/2011/id/34493
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Non-Cyclical Sectors Outperforming Cyclical Sectors
On April 18 I wrote a piece entitled Where We Stand: A Look at S&P 500 Sectors and Industries which looked at the recent outperformance of more cyclically exposed sectors versus defensive sectors. What I had found was that defensive sectors like the utilities (XLU) and consumer stables (XLP) had decreasing correlation versus theS&P 500 (SPY) over the […]
A Graphical Reference Point For The Weak Financials
The financials as measured by the popular XLF etf has been a distinct underperformer relative to the broader market as well as the more defensive sectors over the past two months. Instead of delving into a flurry of reasons for this let me just point out a point of reference hat that we are looking […]
Intel (INTC) Up Six Days In A Row
Since it's earnings announcement on April 19 Intel is up 15%, and six days in a row in the gree. If it closes green today that would make it seven consecutive days of gains. Excessive? Probably, at lest in the short term, which is why I expect a pull-back to the $22 area early next […]
The Strategy For Trading Research In Motion (RIMM)
We have a position in Research in Motion(RIMM) again from the short side. This time with our high probability OTM short calls strategy. Please consider the trading plan if you want to learn this strategy: http://steadytrader.wpengine.com/trading-plan/
Interesting Longer-Term Research In Motion Chart
As a follow-up to my post on Research In Motion from earlier today (http://steadytrader.wpengine.com/update-on-research-in-motion-rimm/), here is a multiyear chart of RIMM. We are noting to subscribers the 2.5 year long trading channel and subsequent lower highs and lower lows. Should RIMM be determined to remain in this channel and test the lower end of the channel, […]