Is Sohu.com (SOHU) About To Rally?
SOHU didn't really participate in the huge rally of BIDU and SINA last week. The question is will it catch up with its peers. It may be a little to early to tell, but looking at its chart I see a bull flag developing (read; higher prices).
Copper Looking For Further Upside
I just wanted to reiterate this: Copper is often being looked to as a leading indicator for global economic growth. Whether that's true this time around or not is fairly irrelevant for my note here. Looking at the chart below I note a downward-trending channel that Copper is now looking to break out of to […]
Best Buy Just Broke A Multi-Year Support Level
Why? Weak earnings and a downgrade to 'sell' from Citigroup. Price action? See the chart below and notice the break below multi-year support at $31 this week. How much lower can it go? I see $25 as a next target.
Russell 2000 And Small Caps Outperforming
See the chart below, the Russell has managed to rally 6.5% over the past 8 trading sessions, compared to aa 4.5% rally in the S&P 500 over the same time period.
Today’s pre-market video is uploaded. Watch it here:
http://steadytrader.wpengine.com/video-2/march/
Williams-Sonoma (WSM) Breaking Higher
After a big rally on the back of stellar earnings and outlook on March 15, WSM has been consolidating in what looks like a bull flag. Yesterday it broke out of the the bull flag, giving me reason to believe now might be a good opportunity to enter a long trade. I am considering this […]
Ford Has Staying Power above the 200 Day Moving Average
Last week I added some Ford to the porfolios and now that it has clearly held at the 200 day moving average (red line on chart below), let me disclose my profit targets: target 1: $15.20 target 2: zone between $15.75 and $16 target 3: $16.50
Morning Update, SPX, Metals & More
An early selloff led to a classic intraday double-bottom and ended up with a rally. On the S&P500 daily charts we now have the 50 dma and the critical $1300 right here and looking at the overnight futures (up 0.75% right now) we might open above those two key levels. Whether that ends up being a […]
Inverse Head And Shoulders Pattern In Gold?
Note the potential inverse head and shoulders pattern that setup in the GLD. If this plays out textbook, the final profit target would be near $53 and a stop-loss could be set near $135.
Copper Looking Frisky For Further Upside
Copper is often being looked to as a leading indicator for global economic growth. Whether that's true this time around or not is fairly irrelevant for my note here. Looking at the chart below I note a downward-trending channel that Copper is now looking to break out of to the upside. What else? Yesterday Copper […]