Watch The Dow Jones Transport Here
the Dow Transports ETF (IYT) has potential resistance at the $92.50 area, which is the 50 day moving average and a 50% retracement of the selloff this week.
glodman Sachs (GS) Could Have A Chart Breakout
Looking at the below chart of Goldman Sachs (GS): the chart looks constructive at first sight,but please note the significance of the $160 level. Should $160 and then especially $155 fail to hold as support, I will look at the short side. Until then however, note the blue zone on the chart, which is an unfilled […]
$1320 In The S&P 500 Could Serve As Resistance
$1320 in the S&P500 could serve as resistance. 1320 is half way (a 50% retracement) of the entire sell-off this week. Should this level not serve as resistance I would look at 1325 as next possible resistance. If neither hold assume new highs will be next.
Oil Could Run Much Higher Soon!
The first chart below is light sweet crude oil futures. Note two things: 1) Oil has broken out of a long consolidation pattern (light blue lines) and closed above it on a weekly chart. 2) Oil has now retraced 61.8% of the down move in 2008. All in all, that's bullish. The second chart is […]
Lululemon (LULU) Is Stretched But Could Go Higher
i'm looking at LULU here and am noting several technically nice developments. Note the sideways consolidation pattern, followed by a break higher, and now a retest of the breakout level. I am interested in the long side above $80 but would be very careful or switch short on a break below $73
I’m Watching The S&P Futures $1320 Level
$1320 served as resistance last Friday and today so far has been support. Should it continue to hold as support expect higher prices, should it fail we could see the correction from last week continue.
NVDA IS Retesting The Important $22 Area for The 3rd Time
the more a certain stock price level gets tested the weaker it's resistance/support becomes. In the case of NVDA the $22 area is now getting tested the the 3rd time in three days. Watch this stock for a potential failure of the $22 level and lower prices.
Salesforce.com (CRM) Is A Stock To Watch Here
the weekly chart below denotes a 'bullish' consolidation phase by way of a 'flag' pattern. the way these things work is that I buy them at a breakout out of the trading range on good volume. the much juicier trade however is if this bullish setup fails and prices break below the trading range. […]
Apple Watch (AAPL)£349 For Bullish Sign
Should AAPL be able to hold above $349 on a closing basis I would consider that a bullish sign for the whole market.