This morning it's Europe again that's front and center. This time Portugal seems to be worsening by the minute and as a result it's credit spreads are blowing out and the Euro is getting more fists and elbows. Speaking of the Euro, it's now blown below the key 1.313 level I mentioned yesterday and […]
Dollar Rally Time
This morning it's Europe again that's front and center. This time Portugal seems to be worsening by the minute and as a result it's credit spreads are blowing out and the Euro is getting more fists and elbows. Speaking of the Euro, it's now blown below the key 1.313 level I mentioned yesterday and in […]
UPS Looking Buyworthy On Daily And Weekly Charts
UPS looks like it wants to break higher and by doing so leaving significant resistance benind it at the 70/71 level. Below I pasted a daily chart showing this pattern, but if you pull up a chart of UPS yourself, make it a weekly chart and look back three to four years, you'll see the […]
Research In Motion
RIMM is breaking higher and above its 200 day moving average on a solid 4% move so far today. I'd like to initiate a small starter position on a pullback
Bank OF America In Play
Note Bank of America selling off hard due to potential litigation as a result of improper home foreclosure proceedings.
Finacials Failed At Resistance Area’s
JPMorgan was just one of many financials last week that failed at resistance areas. If it can repair itself then equities could rally further
It’s Still A difficult Call Here . . .
It's still a difficult call here. Are the financials bottoming or just getting going to the downside. GS yesterday broke out to the upside, albeit modestly so. And BAC rallied off the day's lows to leave a bullish looking formation. However, one day does not a trend make..we need further confirmation.
Goldman Sachs Breaking Out
GS reported earnings this morning and now is in the early stages of breaking out of .significant resistance (see chart below, three higher lows now followed by a potential breakout). My thesis remains that if the Financials can hold a bid, it could keep the broader market rally alive. I am however very suspect of […]
US Airways On The Move
US Airways nice chart setup. The stock broke out of a long-term resistance area yesterday on good volume.
EUR/USD V SPX
The intraday correlation between the EUR/USD pair and the SPX remains to be uncanny. More often than not the EUR/USD leads the way in either direction, allowing me to take a clue and trade in the said direction.