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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.

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 […]

Infosys Technologies (INFY) Failed At Major Technical Support

INFY dropped 13.42 on Friday after disappointing fourth quarter results and uninspiring forecast.   Two Charts to focus on: First the daily chart where we notice a 5 month long head & shoulders pattern that is just now starting play out asthe neckline got broken on Friday….at $65.  In a perfect world the ultimate profit […]

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