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 […]
Capital One Readying A Breakout
Diversified bank Capital one Financial Corp (COF), unlike the broader market is trading in negative territory year to date. Two of its closer competitors however, Visa Inc (V), and Mastercard Inc (MA) are all posting solid gains for the year and recently staged additional near-term breakouts. While the under-performance of Capital one Financial Corp (COF) may […]
Watch The Utilities For When The Market Rally May End
The utility sector of the S&P 500 rose off the early 2009 lows much along with the rest of the market. Relatively speaking however the sector has underperformed and now is approaching a critical level just when the S&P 500 is within arm’s reach of its all-time highs set back in October 2007. The chart […]
AAPL Heading To $480
Apple Inc. (AAPL) continues to shape the tape somewhat each day and plenty of investors with a cost-basis above $650 abide by the hope and pray strategy for the stock to go higher. For a little more clarity using the more proven technique of technical analysis, let’s look at a few charts. When it comes […]
AES Corporation Looking Lower
Electricity generation company AES Corporation (AES) has been trading in a narrowing, albeit wide, trading range since 2009. The stock rose sharply off the 2009 lows and despite trading 8% below the August highs, remains up more than 120% since 2009. The stock has also been a relative outperformer versus its sector; the SPDR Utilities […]
Home Builder Stocks Continue To Struggle
Home builder stocks continue to struggle while adapting to this higher yield environment. For a little perspective I drew the below chart, where I plotted the SPDR Homebuilders ETF (XHB) versus the yield on 10 year US Treasury Notes. Since the home builders topped in May, the XHB is roughly nine percent lower and treasury […]
S&P 500 and Dow Industrials – Staying The Trend Until It Ends
With last Friday’s better than expected U.S. jobs report both U.S. and European headline stock indices broke key resistance areas. With the S&P 500 above 1600 and the Dow Jones Industrial Average near the 15,000 mark, what’s next for the broader tape? The 2013 rally has frustrated many a bear, yet from a trader’s point […]
Market Outlook Monday April 8
As Sam is taking a well-deserved vacation break, I have been asked to cover for him for the next two weeks. I am honored to be sitting in and looking forward to sharing my views with his readership, and of course encourage any questions/comments on the daily takes. The Arrival of April last week brought […]
Best Buy Still More Room Higher
The stock price of electronics retailing giant Best Buy Co., Inc (BBY) has seen its fair share of pain over the past three years. What in early 2010 was a stock trading well into the mid $40s wilted down to a shaky chart trading in the low teens by the end of last year. As […]
CIT Group Ready To Break Out Higher
Banking firm CIT Group Inc (CIT) much along with the broader banking sector has risen steadily off the November 2012 intermediate term lows. In late January the stock broke to the upside of a multi-year trend line, and has been shuffling sideways ever since. This is setting the stock up for further gains in the […]