Goldman Sachs (GS) Close Below $151.50 Is Interesting
Yesterday's low in GS was at $151.50, where it bounced quite hard. Should we get a close below that level today I will consider a bucket 2 short side stab. In the chat-room this morning we are discussing this in great detail. http://steadytrader.wpengine.com/members-area/
American Express (AXP) Looking Good But Earnings Ahead
American Express (AXP) looks good here tecnhnically, respecting and above both the 50 day and 200 day moving averages. Resistance is just above at $47 and if cleared has room to next resistance at $49, and then much higher. The caveat is earnings coming out April 20 after the closing bell, so we in the […]
Today’s pre-market video has been uploaded. Watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Morning Look At the S&P 500 Technicals
Good Morning All! A real quick glance at the chart of the SPX technicals reveals a bullish close yesterday (long tail on the candlestick), as well as closing above the critical 1300 area. One more bullish day today would confirm a near-term bottom. On the other hand, one more weak day today could lead the […]
Where We Stand: A Look at S&P 500 Sectors and Industries
The S&P 500 is currently battling it out with the most immediate support ($1275 – 1300) and resistance ($1345) levels on the daily charts. While investor sentiment is skewed to the bull-side, among the more active types (hedgies and such) the view seems to be more two-sided. As such I thought it would […]
Are Pharmaceutical Stocks About To Rally Big?
check out the chart on DRG (AMEX Pharma Index) and note the big multiyear resistance area at $320. You can also pull up a chart on Pfizer (PFE) for example and note a similarly juicy long setup. In the daily newsletters I am discussing entry points and how to manage and trade around the position […]
Chesapeake Energy Following-Through To The Downside
CHK is following-through to the downside after falling out of a consolidation wedge last week Tuesday (April 12) (read herehttp://steadytrader.wpengine.com/chesapeake-energy-chk-failing-at-important-levels/). We discussed price targets in the morning newsletter today and are managing the position accordingly in the chat-room. Our first target price is $31.
today’s morning video is now uploaded and can be watched here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Early Monday Morning: Troubled Waters In Euro-Land
We awake this morning with the euro down 0.50 % vs the greenback and some 'interesting' news, In Finland the 'anti'euro' party won a crucial stake in the parliament, which could mean the Portugal bail-out plans by the euro union will stall. Moody's not to be out-done downgrades all Irish-Government garanteed banks to Baa1, […]
Is The S&P 500 Ready To Soon Make New Highs For 2011?
That's the question many investors are asking themselves as we sit somewhere between resistance ($1345) and support ($1300). Last Thursday's test of the $1300 area and subsequent bounce with follow-through on Friday may have been a the signal we needed to go long again – note the bullish candlestick on Thursday's trading session. In my […]