Apple’s Chart Shows Bullish Tone Heading Into iPhone Announcements
Since my last update on cult stock Apple Inc. (AAPL) on August 6th HERE, the stock has continued its push higher and found resistance in the $500 – $520 area that I laid out at the time. As the company is scheduled to announce two new iPhones tomorrow September 10th, I thought it would only […]
US Dollar Index Readying For Higher Levels Still
The reaction to last Friday’s better-than-expected June jobs report was decidedly positive for at least three assets reflecting growth; stocks, bond yields (and interest rates) and the dollar all jumped on the news. On the chart below I drew all three assets and the resulting picture speaks for itself. Stocks, bond yields and the US […]
Small Caps Via The Russell 2000 Leading The Rally
After breaking its November 2012 up-trend line on the weekly charts the S&P 500 remains in oversold bounce mode as it re-tests the underbelly of said uptrend. Until the S&P 500 breaks past the 1645 – 1650 area (which is only inches away), this index is thus not showing any leadership. If we look toward […]
Starbucks Trying To Re-test All-Time Highs
Coffee retailing giant Starbucks Corporation (SBUX) has traded in an almost freakishly orderly up-trend since the early 2009 lows in the broader market. In late 2011 and early 2012 the stock went vertical and traded above this longer-term trend, but eventually gave way to the laws of physics and corrected 30% in roughly 3 months, […]
Gold Readying A Bounce
With earnings season upon us and really kicking into high gear next week, I am keeping a close eye on gold for signs of possible risk aversion trades. As I discussed here (http://investorplace.com/2013/04/go-for-the-gold-but-do-it-quickly/) on April 2nd, the near-term inverse correlation between stocks and gold, upon a sell-off in stocks, is consistent. In other words, a […]
Market Outlook April 10
With just one day to go until earnings season starts to sneak into more active territory, sell-side shops decided to give it one more push and via a futures-led market tried to lure investors back into the market. While volume was clearly lacking, oversold sectors and groups bounced the most. Starting off with a glance […]
Dow Lower Three Consecutive Days. Open The Parachutes?
After four consecutive down days for the Dow Jones Transportation Index and three consecutive down days for the Dow Jones Industrial Average, are things about to fall off a cliff? While the bears continue to point to negative divergences across market internals (NYSE 52 week highs peaked in May) and momentum (oscillators are not confirming […]
KLA-Tencor Readying A Breakout
With last Friday’s strong close to the week (which did however come on notably weak volume), several groups of stocks are looking decidedly more bullish than bearish again for the near-term. The semiconductors as measured by the Semiconductors ETF (SMH) is one such group showing good strength. The group is higher by roughly 5.50% over […]
Apple: Positive Posture But Immediate-Term Overbought
On April 25th I opined here: http://investorplace.com/2013/04/apples-chart-still-has-no-pep-in-its-step/ that Apple Inc. (AAPL) remains trading in a rather lackluster fashion. I further stated that for me to get interested in the long-side of the stock again it would have to trade above its 50 day simple moving average, which at the time came in around the 430 […]
Market Outlook Tuesday April 9
Monday’s low volume bounce in the broader U.S. equity market doesn’t offer all that much to analyze in and of itself, yet bearish clues from across the pond are worth making note of. On both sides of the pond, to a good extent investors are now waiting for corporate earnings season for the first […]