First Solar (FSLR) Is At An Important Price Level
FSLR most recently topped at $175 and then in the following 5 trading days lost roughly 14%. Now it sits just north of the crucial $150 level, which previously served as resistance and could now become support. I am watching this level carefully and should it hold will consider a long-side try. $175 by […]
S&P 500 1325 To 1330 Important
Should the SPX go higher than 1330 (horizontal yellow line on chart) I will shift the portfolios into more long-oriented exposure. In that case quite simply the bears will not have had any power left and it would be time for the eternal bulls to rally this market again. But we're not there yet.
Lululemon (LULU) Has Big Empty Space Below $65.50
I am watching LULU again today. It was one of the big leaders last year and since mid December has been consolidating in a bullish flag pattern. The obvious trade is to go long if LULU would go through $70 to the upside. Where I see warning signs however is if the pattern would […]
EEM At Critical Level. PLEASE READ
The Emerging Markets Index Fund ETF (EEM) is at an important juncture now, currently $45.50. As the chart below shows, EEM now sits at the lower end of an upward trending channel, which has held as support back in November and before that served as resistance. If you look closely you should see a […]
S&P 500 Futures Level At 1285 Is Key
1285 is a 50% retracement of Friday's sell off. Should that not serve as resistance I will then look at 1288.5ish , which is the 61.8% retracement. If either of those levels end up serving up good resistance it could send the futures down to the key 1260ish level.
INTEL (INTC) Showing Exhaustion Patern
INTC, after finding support just last week near $20.50 now looks to have found it's resistance match near $22. $22 served as resistance several times in 2010 and apparently again now. The past three days have put in weak performance with two dojis and then today's sell-off, all after almost hitting $22, i.e, […]
Important: Ford Is Trading At The Critical $17 Price Level
If you followed this blog in November/December you will remember my chatter about Ford stock. At the time Ford flirted breaking a key price level to the downside at $15.50. Of course looking back the stock ended up putting in a good support level right there and rallied higher. I got stopped out of […]
Transports Are Leading This Tape Lower
In my work I've found that more often than not the transportation stocks (I use the Nasdaq Transportation index, TRAN) have a leading function. Now this is nothing new as any Dow theorist would tell you, but let me show you a chart below of how the TRAN currently looks and what clues it […]
Semiconductors Rallying, Applied Materials Trade Profitable
Semiconductors have overcome some serious technical weakness and today are again smiling in green with the SMH up approx 1%, INTC +0.7%, and Applied Materials (AMAT) +1.9%. I took a long position in AMAT earlier this week as posted here on the blog on the day of. At the time it had displayed […]
Important S&P Levels
These are levels for the futures, but for S&P 500 cash just add 2 or so points. Nearest resistance: 1300 Support levels: 1290, 1278/80, Zone from 1268-1273, 1260, and strong support at 1220-1225